The Western Digital Corp (WDC) Position Raised by Elkfork Partners LLC

The Western Digital Corp (WDC) Position Raised by Elkfork Partners LLC

Several other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Western Digital Corp during the fourth quarter worth about $168,304,000. Iridian Asset Management LLC CT increased its stake in shares of Western Digital Corp by 13,964.1% in the fourth quarter. Iridian Asset Management LLC CT now owns 1,611,046 shares of the data storage provider’s stock worth $109,471,000 after buying an additional 1,599,591 shares during the last quarter. Viking Global Investors LP purchased a new position in Western Digital Corp during the fourth quarter valued at $95,471,000. Los Angeles Capital Management & Equity Research Inc. increased its position in Western Digital Corp by 926.9% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,185,315 shares of the data storage provider’s stock valued at $69,305,000 after buying an additional 1,069,889 shares in the last quarter. Finally, State Street Corp increased its position in Western Digital Corp by 7.2% in the fourth quarter. State Street Corp now owns 14,860,382 shares of the data storage provider’s stock valued at $1,011,249,000 after buying an additional 994,472 shares in the last quarter. 88.22% of the stock is owned by institutional investors and hedge funds.

Elkfork Partners LLC increased its position in Western Digital Corp (NASDAQ:WDC) by 40.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,322 shares of the data storage provider’s stock after buying an additional 13,552 shares during the period. Elkfork Partners LLC’s holdings in Western Digital Corp were worth $3,906,000 as of its most recent filing with the SEC.

Shares of Western Digital Corp (NASDAQ WDC) opened at 91.52 on Monday. Western Digital Corp has a 52 week low of $41.64 and a 52 week high of $92.50. The firm’s market capitalization is $26.65 billion. The firm’s 50-day moving average price is $87.84 and its 200 day moving average price is $76.95.

Western Digital Corp (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 27th. The data storage provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.22. Western Digital Corp had a positive return on equity of 13.38% and a negative net margin of 2.56%. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The business’s quarterly revenue was up 64.7% compared to the same quarter last year. On average, analysts anticipate that Western Digital Corp will post $8.89 EPS for the current year. The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.19%. Western Digital Corp’s payout ratio is presently -133.33%.

Western Digital Corp (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 27th. The data storage provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.22. Western Digital Corp had a positive return on equity of 13.38% and a negative net margin of 2.56%. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The business’s quarterly revenue was up 64.7% compared to the same quarter last year. On average, analysts anticipate that Western Digital Corp will post $8.89 EPS for the current year. Several brokerages have recently issued reports on WDC. Royal Bank of Canada reiterated an “outperform” rating and issued a $96.00 price objective on shares of Western Digital Corp in a research note on Monday, April 17th. Mizuho reiterated a “buy” rating on shares of Western Digital Corp in a research note on Friday, May 19th. Citigroup Inc reiterated a “buy” rating and issued a $100.00 price objective on shares of Western Digital Corp in a research note on Monday, March 6th. Deutsche Bank AG restated a “buy” rating and set a $105.00 target price (up previously from $88.00) on shares of Western Digital Corp in a research note on Saturday, April 29th. Finally, Vetr cut Western Digital Corp from a “hold” rating to a “sell” rating and set a $80.38 target price for the company. in a research note on Tuesday, April 4th. Six equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $96.05.

In other Western Digital Corp news, EVP Manish H. Bhatia sold 7,208 shares of Western Digital Corp stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $84.99, for a total transaction of $612,607.92. Following the sale, the executive vice president now directly owns 66,922 shares of the company’s stock, valued at $5,687,700.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael D. Cordano sold 27,137 shares of Western Digital Corp stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $85.07, for a total value of $2,308,544.59. Following the sale, the insider now directly owns 62,878 shares in the company, valued at $5,349,031.46. The disclosure for this sale can be found here. Insiders sold 175,980 shares of company stock worth $15,379,978 over the last quarter. 0.46% of the stock is currently owned by corporate insiders. Western Digital Corp Company Profile

Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:WDC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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