Western Digital Corporation $WDC Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC decreased its position in shares of Western Digital Corporation (NASDAQ:WDC) by 9.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,923 shares of the data storage provider’s stock after selling 4,192 shares during the period. Yousif Capital Management LLC’s holdings in Western Digital were worth $4,913,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WDC. Grove Bank & Trust acquired a new stake in shares of Western Digital during the third quarter valued at about $30,000. Private Wealth Management Group LLC boosted its holdings in Western Digital by 102.5% in the second quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock valued at $26,000 after purchasing an additional 202 shares during the last quarter. Rakuten Securities Inc. grew its stake in Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 407 shares in the last quarter. NewSquare Capital LLC grew its stake in Western Digital by 86.9% during the 2nd quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 205 shares in the last quarter. Finally, CNB Bank purchased a new stake in Western Digital during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Citigroup increased their target price on Western Digital from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. UBS Group increased their target price on Western Digital from $135.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. JPMorgan Chase & Co. boosted their price target on Western Digital from $94.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Bank of America increased their target price on shares of Western Digital from $170.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $148.00 price target on shares of Western Digital in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.65.

Insiders Place Their Bets

In other news, insider Cynthia L. Tregillis sold 2,801 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $160.57, for a total transaction of $449,756.57. Following the sale, the insider owned 144,596 shares in the company, valued at approximately $23,217,779.72. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roxanne Oulman sold 1,800 shares of Western Digital stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $154.42, for a total value of $277,956.00. Following the completion of the transaction, the director directly owned 3,863 shares of the company’s stock, valued at $596,524.46. This represents a 31.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,369 shares of company stock worth $4,013,785 in the last three months. Company insiders own 0.18% of the company’s stock.

Western Digital Price Performance

Shares of WDC stock opened at $179.74 on Thursday. The stock’s fifty day simple moving average is $156.12 and its 200 day simple moving average is $108.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.21 and a quick ratio of 0.94. Western Digital Corporation has a one year low of $28.83 and a one year high of $188.77. The firm has a market cap of $61.45 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 1.10 and a beta of 1.82.

Western Digital (NASDAQ:WDC) last announced its earnings results on Monday, April 7th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter. The business had revenue of $4.10 billion during the quarter. Western Digital had a net margin of 21.37% and a return on equity of 30.89%. On average, analysts expect that Western Digital Corporation will post 4.89 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were 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 was Thursday, December 4th. This represents a $0.50 dividend on an annualized basis and a yield of 0.3%. Western Digital’s dividend payout ratio is currently 7.28%.

Western Digital Profile

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.