Western Digital Corp. (NASDAQ:WDC) EVP Michael Charles Ray sold 5,589 shares of the firm’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $63.11, for a total value of $352,721.79. Following the sale, the executive vice president now owns 46,994 shares in the company, valued at approximately $2,965,791.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Michael Charles Ray also recently made the following trade(s):

  • On Monday, November 14th, Michael Charles Ray sold 1,000 shares of Western Digital Corp. stock. The stock was sold at an average price of $60.00, for a total value of $60,000.00.
  • On Monday, October 3rd, Michael Charles Ray sold 6,183 shares of Western Digital Corp. stock. The stock was sold at an average price of $60.00, for a total value of $370,980.00.
  • On Tuesday, September 27th, Michael Charles Ray sold 2,719 shares of Western Digital Corp. stock. The stock was sold at an average price of $58.63, for a total value of $159,414.97.

Shares of Western Digital Corp. (NASDAQ:WDC) traded up 0.64% on Tuesday, hitting $62.67. 5,052,997 shares of the company were exchanged. The stock’s market capitalization is $17.89 billion. Western Digital Corp. has a 52-week low of $34.99 and a 52-week high of $64.73. The firm’s 50-day moving average is $57.36 and its 200-day moving average is $50.86.

Western Digital Corp. (NASDAQ:WDC) last released its quarterly earnings data on Wednesday, October 26th. The data storage provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.13. Western Digital Corp. had a negative net margin of 2.73% and a positive return on equity of 11.74%. The company earned $4.71 billion during the quarter, compared to analysts’ expectations of $4.51 billion. During the same quarter in the previous year, the company earned $1.56 earnings per share. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. Equities research analysts predict that Western Digital Corp. will post $6.62 earnings per share for the current year.

Insider Buying and Selling by Quarter for Western Digital Corp. (NASDAQ:WDC)

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, December 28th. This represents a $2.00 dividend on an annualized basis and a yield of 3.19%. Western Digital Corp.’s payout ratio is -162.60%.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WDC. LPL Financial LLC boosted its position in Western Digital Corp. by 55.9% in the first quarter. LPL Financial LLC now owns 50,065 shares of the data storage provider’s stock worth $2,209,000 after buying an additional 17,949 shares during the last quarter. Babson Capital Management LLC boosted its position in Western Digital Corp. by 157.7% in the first quarter. Babson Capital Management LLC now owns 29,903 shares of the data storage provider’s stock worth $1,413,000 after buying an additional 18,300 shares during the last quarter. Arizona State Retirement System boosted its position in Western Digital Corp. by 1.0% in the first quarter. Arizona State Retirement System now owns 88,300 shares of the data storage provider’s stock worth $4,171,000 after buying an additional 900 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in Western Digital Corp. by 282.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,984 shares of the data storage provider’s stock worth $660,000 after buying an additional 10,332 shares during the last quarter. Finally, First Republic Investment Management Inc. boosted its position in Western Digital Corp. by 144.6% in the first quarter. First Republic Investment Management Inc. now owns 53,548 shares of the data storage provider’s stock worth $2,530,000 after buying an additional 31,658 shares during the last quarter. 86.44% of the stock is owned by institutional investors.

Several research analysts have recently commented on WDC shares. BMO Capital Markets reiterated a “market perform” rating and issued a $50.00 price objective on shares of Western Digital Corp. in a report on Monday, August 1st. Argus reiterated a “buy” rating and issued a $60.00 price objective on shares of Western Digital Corp. in a report on Tuesday, August 2nd. Goldman Sachs Group Inc. downgraded Western Digital Corp. from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $47.00 to $38.00 in a report on Wednesday, August 3rd. Susquehanna reiterated a “positive” rating and issued a $80.00 price objective on shares of Western Digital Corp. in a report on Saturday, August 13th. Finally, Barclays PLC lifted their price objective on Western Digital Corp. from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Western Digital Corp. currently has a consensus rating of “Buy” and a consensus target price of $68.25.

About Western Digital Corp.

Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage solutions that enable consumers, businesses, governments and other organizations to create, manage, experience and preserve digital content. The Company’s product portfolio includes hard disk drives (HDDs), solid-state drives, direct attached storage solutions, personal cloud network attached storage solutions, and public and private cloud data center storage solutions.

5 Day Chart for NASDAQ:WDC

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