Skandinaviska Enskilda Banken AB publ Buys 10,770 Shares of Western Digital Corporation $WDC

Skandinaviska Enskilda Banken AB publ grew its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 5.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 209,143 shares of the data storage provider’s stock after purchasing an additional 10,770 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Western Digital were worth $13,380,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Private Wealth Management Group LLC increased its stake in shares of Western Digital by 102.5% during the second quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock worth $26,000 after purchasing an additional 202 shares during the period. NewSquare Capital LLC grew its holdings in Western Digital by 86.9% in the 2nd quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider’s stock valued at $28,000 after buying an additional 205 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Western Digital during the 1st quarter worth $29,000. CNB Bank acquired a new stake in shares of Western Digital during the second quarter worth $37,000. Finally, Manchester Capital Management LLC boosted its position in shares of Western Digital by 47.2% in the second quarter. Manchester Capital Management LLC now owns 577 shares of the data storage provider’s stock valued at $37,000 after acquiring an additional 185 shares during the period. Institutional investors own 92.51% of the company’s stock.

Western Digital Stock Up 3.7%

NASDAQ WDC opened at $163.62 on Friday. The business has a fifty day moving average price of $136.77 and a two-hundred day moving average price of $93.08. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84. Western Digital Corporation has a fifty-two week low of $28.83 and a fifty-two week high of $178.45. The stock has a market capitalization of $55.94 billion, a PE ratio of 31.77, a PEG ratio of 1.14 and a beta of 1.81.

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 for the quarter. Equities analysts expect that Western Digital Corporation will post 4.89 earnings per share for the current fiscal year.

Western Digital Increases Dividend

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

Insider Activity at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $150.69, for a total transaction of $3,013,800.00. Following the sale, the chief executive officer directly owned 645,467 shares of the company’s stock, valued at approximately $97,265,422.23. The trade was a 3.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimberly Alexy sold 1,768 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $154.00, for a total transaction of $272,272.00. Following the transaction, the director owned 3,585 shares of the company’s stock, valued at approximately $552,090. This represents a 33.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 34,911 shares of company stock valued at $4,588,187. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. TD Cowen lifted their price objective on shares of Western Digital from $90.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Robert W. Baird set a $180.00 price target on shares of Western Digital in a research report on Friday, October 31st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $148.00 price target on shares of Western Digital in a research note on Friday, October 31st. Bank of America raised their price objective on Western Digital from $170.00 to $197.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Finally, Rosenblatt Securities upped their target price on Western Digital from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.16.

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.