25,324 Shares in Western Digital Co. (NASDAQ:WDC) Bought by Collar Capital Management LLC

Collar Capital Management LLC bought a new position in shares of Western Digital Co. (NASDAQ:WDC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,324 shares of the data storage provider's stock, valued at approximately $1,510,000.

Several other large investors also recently bought and sold shares of WDC. Versant Capital Management Inc increased its position in Western Digital by 278.9% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock worth $25,000 after purchasing an additional 304 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Western Digital in the 4th quarter worth approximately $29,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Western Digital during the 4th quarter worth $30,000. OFI Invest Asset Management purchased a new position in Western Digital during the fourth quarter worth about $36,000. Finally, S.A. Mason LLC purchased a new stake in Western Digital in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 92.51% of the company's stock.

Analysts Set New Price Targets

WDC has been the subject of a number of recent analyst reports. Susquehanna lowered their target price on shares of Western Digital from $72.00 to $40.00 and set a "neutral" rating for the company in a report on Friday, April 11th. The Goldman Sachs Group increased their target price on Western Digital from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. StockNews.com began coverage on Western Digital in a report on Friday, May 2nd. They issued a "hold" rating on the stock. Rosenblatt Securities decreased their target price on Western Digital from $76.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Finally, TD Cowen reduced their target price on shares of Western Digital from $80.00 to $58.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $64.15.

Insider Activity

In other news, SVP Gene M. Zamiska sold 1,659 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $41.36, for a total transaction of $68,616.24. Following the sale, the senior vice president now owns 43,776 shares in the company, valued at $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company's stock.

Western Digital Stock Down 1.6 %

Shares of Western Digital stock opened at $44.29 on Wednesday. The stock has a market capitalization of $15.41 billion, a price-to-earnings ratio of 10.55 and a beta of 1.42. Western Digital Co. has a twelve month low of $28.83 and a twelve month high of $81.55. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. The business's 50 day simple moving average is $40.28 and its 200-day simple moving average is $56.74.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The data storage provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.06 by $0.30. The business had revenue of ($1,465.00) million during the quarter, compared to analyst estimates of $2.70 billion. Western Digital had a net margin of 9.95% and a return on equity of 15.68%. The company's quarterly revenue was down 33.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Equities research analysts forecast that Western Digital Co. will post 4.89 earnings per share for the current year.

Western Digital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Wednesday, June 4th. Western Digital's dividend payout ratio is currently 7.58%.

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.

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