Callan Family Office LLC Makes New $919,000 Investment in Western Digital Corporation $WDC

Callan Family Office LLC bought a new position in Western Digital Corporation (NASDAQ:WDC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,354 shares of the data storage provider’s stock, valued at approximately $919,000.

A number of other hedge funds have also added to or reduced their stakes in WDC. Farther Finance Advisors LLC boosted its stake in shares of Western Digital by 18.4% during the first quarter. Farther Finance Advisors LLC now owns 3,918 shares of the data storage provider’s stock valued at $160,000 after purchasing an additional 609 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Western Digital by 13.0% during the first quarter. Fifth Third Bancorp now owns 14,998 shares of the data storage provider’s stock valued at $606,000 after purchasing an additional 1,729 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Western Digital by 52.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,838 shares of the data storage provider’s stock valued at $1,166,000 after purchasing an additional 9,974 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Western Digital by 8.1% during the first quarter. Sound Income Strategies LLC now owns 82,027 shares of the data storage provider’s stock valued at $3,316,000 after purchasing an additional 6,153 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Western Digital by 34.6% during the first quarter. Exchange Traded Concepts LLC now owns 4,564 shares of the data storage provider’s stock valued at $185,000 after purchasing an additional 1,173 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WDC shares. Wells Fargo & Company increased their price objective on shares of Western Digital from $80.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Morgan Stanley increased their price objective on shares of Western Digital from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Susquehanna increased their price objective on shares of Western Digital from $40.00 to $62.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Sanford C. Bernstein upgraded shares of Western Digital to a “hold” rating in a research note on Tuesday, September 16th. Finally, Barclays increased their price objective on shares of Western Digital from $80.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Seventeen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Western Digital currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.63.

Insider Activity at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 14,067 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $74.78, for a total value of $1,051,930.26. Following the completion of the transaction, the insider 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Irving Tan sold 8,621 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $75.90, for a total transaction of $654,333.90. Following the completion of the transaction, the chief executive officer directly owned 594,836 shares of the company’s stock, valued at approximately $45,148,052.40. This represents a 1.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 49,730 shares of company stock worth $3,921,594. Corporate insiders own 0.18% of the company’s stock.

Western Digital Trading Down 3.6%

NASDAQ:WDC opened at $115.42 on Monday. Western Digital Corporation has a 52 week low of $28.83 and a 52 week high of $137.40. The firm has a 50 day moving average of $94.78 and a 200 day moving average of $67.26. 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 stock has a market capitalization of $39.57 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 0.97 and a beta of 1.77.

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

Western Digital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. Western Digital’s dividend payout ratio (DPR) is currently 7.77%.

About Western Digital

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.