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

Yousif Capital Management LLC trimmed its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,115 shares of the data storage provider’s stock after selling 1,340 shares during the period. Yousif Capital Management LLC’s holdings in Western Digital were worth $2,887,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new position in Western Digital during the first quarter worth about $29,000. Allworth Financial LP grew its holdings in Western Digital by 34.1% during the first quarter. Allworth Financial LP now owns 955 shares of the data storage provider’s stock worth $38,000 after acquiring an additional 243 shares during the period. MorganRosel Wealth Management LLC acquired a new position in Western Digital during the first quarter worth about $40,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Western Digital by 242.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,208 shares of the data storage provider’s stock worth $49,000 after acquiring an additional 855 shares during the period. Finally, Brooklyn Investment Group grew its holdings in Western Digital by 91.2% during the first quarter. Brooklyn Investment Group now owns 1,279 shares of the data storage provider’s stock worth $52,000 after acquiring an additional 610 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 353 shares of Western Digital stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $80.90, for a total transaction of $28,557.70. Following the completion of the sale, the senior vice president directly owned 27,425 shares in the company, valued at $2,218,682.50. The trade was a 1.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Irving Tan sold 8,621 shares of Western Digital stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $75.90, for a total value of $654,333.90. Following the sale, the chief executive officer owned 594,836 shares of the company’s stock, valued at approximately $45,148,052.40. This represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,730 shares of company stock valued at $3,921,594 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

Western Digital Trading Up 4.5%

Shares of NASDAQ WDC opened at $125.92 on Friday. Western Digital Corporation has a one year low of $28.83 and a one year high of $137.40. The firm has a market capitalization of $43.17 billion, a PE ratio of 24.45, a PEG ratio of 1.01 and a beta of 1.77. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $98.32 and a two-hundred day moving average price of $69.07.

Western Digital (NASDAQ:WDC) last announced its quarterly 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 return on equity of 24.93% and a net margin of 14.13%. As a group, analysts predict that Western Digital Corporation will post 4.89 earnings per share for the current fiscal year.

Western Digital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Thursday, September 4th. Western Digital’s payout ratio is currently 7.77%.

Wall Street Analysts Forecast Growth

WDC has been the subject of several research reports. Morgan Stanley raised their price objective on Western Digital from $92.00 to $99.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Wedbush increased their price target on Western Digital from $90.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday. The Goldman Sachs Group increased their price target on Western Digital from $78.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Sanford C. Bernstein upgraded Western Digital to a “hold” rating in a research report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.65.

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.