Zions Bancorporation National Association UT Has $1.05 Million Holdings in Western Digital Corporation $WDC

Zions Bancorporation National Association UT grew its position in Western Digital Corporation (NASDAQ:WDC) by 2,162.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 16,472 shares of the data storage provider’s stock after acquiring an additional 15,744 shares during the period. Zions Bancorporation National Association UT’s holdings in Western Digital were worth $1,054,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CVA Family Office LLC boosted its stake in shares of Western Digital by 23.7% during the second quarter. CVA Family Office LLC now owns 904 shares of the data storage provider’s stock valued at $58,000 after purchasing an additional 173 shares in the last quarter. Forum Financial Management LP raised its holdings in Western Digital by 3.4% in the 2nd quarter. Forum Financial Management LP now owns 5,895 shares of the data storage provider’s stock valued at $377,000 after buying an additional 193 shares during the last quarter. UMB Bank n.a. boosted its position in Western Digital by 6.2% during the 2nd quarter. UMB Bank n.a. now owns 3,465 shares of the data storage provider’s stock worth $222,000 after buying an additional 202 shares during the period. Private Wealth Management Group LLC boosted its position in Western Digital by 102.5% during the 2nd quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock worth $26,000 after buying an additional 202 shares during the period. Finally, NewSquare Capital LLC grew its holdings in Western Digital by 86.9% during the 2nd quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 205 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Insiders Place Their Bets

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $150.69, for a total transaction of $3,013,800.00. Following the transaction, the chief executive officer directly owned 645,467 shares in the company, valued at approximately $97,265,422.23. This represents a 3.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cynthia L. Tregillis sold 14,067 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the sale, the insider directly owned 135,351 shares of the company’s stock, valued at approximately $10,121,547.78. This trade represents a 9.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 65,783 shares of company stock valued at $6,639,843 in the last ninety days. 0.18% of the stock is owned by corporate insiders.

Western Digital Stock Performance

Shares of WDC opened at $162.96 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $55.72 billion, a P/E ratio of 31.64, a price-to-earnings-growth ratio of 1.14 and a beta of 1.81. The firm’s fifty day simple moving average is $118.10 and its two-hundred day simple moving average is $81.43. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $167.50.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Monday, April 7th. The data storage provider reported $1.78 earnings per share for the quarter. The firm had revenue of $4.10 billion during the quarter. Western Digital had a return on equity of 24.93% and a net margin of 14.13%. As a group, analysts predict that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a $0.125 dividend. The ex-dividend date is Thursday, December 4th. This is an increase from Western Digital’s previous quarterly dividend of $0.10. This represents a $0.50 dividend on an annualized basis and a yield of 0.3%. Western Digital’s dividend payout ratio is presently 7.28%.

Analysts Set New Price Targets

Several research firms have recently issued reports on WDC. Sanford C. Bernstein raised shares of Western Digital to a “hold” rating in a research note on Tuesday, September 16th. Rosenblatt Securities increased their price objective on Western Digital from $125.00 to $165.00 and gave the company a “buy” rating in a report on Friday, October 31st. Susquehanna reaffirmed a “neutral” rating and set a $135.00 target price on shares of Western Digital in a research report on Thursday. UBS Group upped their price target on Western Digital from $135.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Finally, Citigroup increased their price target on Western Digital from $135.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.47.

Western Digital Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.