Ossiam Invests $179,000 in Western Digital Corp (NASDAQ:WDC)

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Ossiam bought a new position in shares of Western Digital Corp (NASDAQ:WDC) during the second quarter, HoldingsChannel reports. The institutional investor bought 3,755 shares of the data storage provider’s stock, valued at approximately $179,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cibc World Markets Corp lifted its position in shares of Western Digital by 20.9% during the second quarter. Cibc World Markets Corp now owns 85,218 shares of the data storage provider’s stock worth $4,052,000 after purchasing an additional 14,718 shares in the last quarter. Meadow Creek Investment Management LLC lifted its position in shares of Western Digital by 35.7% during the second quarter. Meadow Creek Investment Management LLC now owns 21,392 shares of the data storage provider’s stock worth $1,017,000 after purchasing an additional 5,628 shares in the last quarter. Glen Harbor Capital Management LLC lifted its position in shares of Western Digital by 35.7% during the second quarter. Glen Harbor Capital Management LLC now owns 25,976 shares of the data storage provider’s stock worth $1,235,000 after purchasing an additional 6,834 shares in the last quarter. Tyers Asset Management LLC lifted its position in shares of Western Digital by 35.7% during the second quarter. Tyers Asset Management LLC now owns 12,224 shares of the data storage provider’s stock worth $581,000 after purchasing an additional 3,216 shares in the last quarter. Finally, Elkfork Partners LLC lifted its position in shares of Western Digital by 35.7% during the second quarter. Elkfork Partners LLC now owns 16,808 shares of the data storage provider’s stock worth $799,000 after purchasing an additional 4,422 shares in the last quarter. 86.66% of the stock is currently owned by institutional investors and hedge funds.

WDC stock traded up $0.43 during midday trading on Friday, hitting $65.13. 126,429 shares of the company traded hands, compared to its average volume of 3,662,988. Western Digital Corp has a twelve month low of $33.83 and a twelve month high of $65.16. The company has a quick ratio of 1.36, a current ratio of 2.22 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $18.43 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 17.17 and a beta of 1.85. The business has a 50 day simple moving average of $56.37 and a 200-day simple moving average of $49.50.

Western Digital (NASDAQ:WDC) last issued its earnings results on Wednesday, July 31st. The data storage provider reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.22. The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Western Digital had a positive return on equity of 10.73% and a negative net margin of 4.55%. Western Digital’s quarterly revenue was down 29.0% compared to the same quarter last year. During the same period last year, the business earned $3.61 earnings per share. Equities research analysts forecast that Western Digital Corp will post 1.81 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Friday, October 4th will be given a $0.50 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $2.00 annualized dividend and a yield of 3.07%. Western Digital’s dividend payout ratio (DPR) is currently 52.49%.

WDC has been the topic of several recent analyst reports. Deutsche Bank upped their price target on shares of Western Digital from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. BidaskClub upgraded shares of Western Digital from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Craig Hallum boosted their target price on shares of Western Digital from $64.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, September 6th. KeyCorp reiterated a “hold” rating on shares of Western Digital in a research note on Tuesday. Finally, Goldman Sachs Group set a $54.00 target price on shares of Western Digital and gave the company a “hold” rating in a research note on Sunday, July 21st. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $61.83.

In other news, EVP Michael Charles Ray sold 87,053 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $59.96, for a total value of $5,219,697.88. Following the completion of the sale, the executive vice president now directly owns 112,480 shares in the company, valued at $6,744,300.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lori S. Sundberg sold 3,442 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $56.82, for a total value of $195,574.44. Following the completion of the sale, the executive vice president now owns 29,312 shares of the company’s stock, valued at $1,665,507.84. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.

About Western Digital

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.

See Also: Earnings Per Share

Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Corp (NASDAQ:WDC).

Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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