The Western Digital Corp (WDC) Position Reduced by Altfest L J & Co. Inc.

The Western Digital Corp (WDC) Position Reduced by Altfest L J & Co. Inc.

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 position in 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 valued at $109,471,000 after buying an additional 1,599,591 shares in 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.

Altfest L J & Co. Inc. cut its position in Western Digital Corp (NASDAQ:WDC) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,556 shares of the data storage provider’s stock after selling 40 shares during the period. Altfest L J & Co. Inc.’s holdings in Western Digital Corp were worth $459,000 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 one year low of $41.64 and a one year high of $92.50. The company’s market cap is $26.65 billion. The company has a 50 day moving average price of $87.84 and a 200 day moving average price of $76.95.

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

Western Digital Corp (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 27th. The data storage provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.22. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.57 billion. Western Digital Corp had a positive return on equity of 13.38% and a negative net margin of 2.56%. The company’s quarterly revenue was up 64.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.21 earnings per share. Equities research analysts expect that Western Digital Corp will post $8.89 earnings per share for the current year. Several brokerages have recently issued reports on WDC. Jefferies Group LLC reiterated a “hold” rating and issued a $90.00 price objective on shares of Western Digital Corp in a research note on Friday. Longbow Research reiterated a “buy” rating and issued a $120.00 price objective on shares of Western Digital Corp in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating on shares of Western Digital Corp in a research note on Sunday, May 28th. Vetr upgraded Western Digital Corp from a “buy” rating to a “strong-buy” rating and set a $100.10 price objective for the company in a research note on Monday, May 29th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Western Digital Corp in a research note on Wednesday, May 24th. 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 news, insider Michael D. Cordano sold 27,137 shares of the business’s stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $85.07, for a total value of $2,308,544.59. Following the transaction, the insider now directly owns 62,878 shares of the company’s stock, valued at approximately $5,349,031.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark P. Long sold 57,846 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $87.02, for a total value of $5,033,758.92. Following the completion of the transaction, the insider now directly owns 114,522 shares in the company, valued at $9,965,704.44. The disclosure for this sale can be found here. Insiders have sold 175,980 shares of company stock worth $15,379,978 over the last ninety days. Company insiders own 0.46% of the company’s stock. 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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