Western Digital (NASDAQ:WDC) Director Roxanne Oulman Sells 1,800 Shares

Western Digital Corporation (NASDAQ:WDC) Director Roxanne Oulman sold 1,800 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $154.42, for a total transaction of $277,956.00. Following the sale, the director directly owned 3,863 shares in the company, valued at approximately $596,524.46. The trade was a 31.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Western Digital Trading Up 1.5%

WDC traded up $2.33 on Wednesday, hitting $157.74. The company had a trading volume of 4,847,408 shares, compared to its average volume of 8,402,505. The company has a market cap of $53.93 billion, a PE ratio of 30.63, a PEG ratio of 1.14 and a beta of 1.81. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $133.45 and its 200 day simple moving average is $91.04. Western Digital Corporation has a 12-month low of $28.83 and a 12-month high of $178.45.

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

Western Digital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a dividend of $0.125 per share. This is a boost from Western Digital’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.50 annualized dividend and a yield of 0.3%. Western Digital’s payout ratio is 7.28%.

Analysts Set New Price Targets

A number of brokerages have commented on WDC. The Goldman Sachs Group reiterated a “neutral” rating and issued a $148.00 target price on shares of Western Digital in a report on Friday, October 31st. Susquehanna reiterated a “neutral” rating and set a $135.00 price objective on shares of Western Digital in a research note on Thursday, November 6th. Cantor Fitzgerald increased their target price on shares of Western Digital from $160.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. TD Cowen lifted their price target on shares of Western Digital from $90.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Robert W. Baird set a $180.00 price objective on Western Digital in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $162.16.

Institutional Investors Weigh In On Western Digital

A number of large investors have recently bought and sold shares of the company. WCM Investment Management LLC purchased a new position in shares of Western Digital during the third quarter worth $791,317,000. Norges Bank acquired a new stake in Western Digital during the 2nd quarter worth about $220,680,000. Fred Alger Management LLC grew its position in Western Digital by 4,923.9% during the 3rd quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock worth $409,049,000 after purchasing an additional 3,339,225 shares during the period. Soroban Capital Partners LP lifted its holdings in shares of Western Digital by 1,926.3% in the 2nd quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock valued at $195,882,000 after buying an additional 2,910,062 shares during the period. Finally, Alyeska Investment Group L.P. boosted its stake in shares of Western Digital by 130.0% in the first quarter. Alyeska Investment Group L.P. now owns 5,029,359 shares of the data storage provider’s stock worth $203,337,000 after buying an additional 2,842,822 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Company 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.