65,000 Shares in Western Digital Co. (NASDAQ:WDC) Purchased by Maytus Capital Management LLC

Maytus Capital Management LLC purchased a new stake in shares of Western Digital Co. (NASDAQ:WDC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 65,000 shares of the data storage provider's stock, valued at approximately $3,876,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Western Digital by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 42,459,767 shares of the data storage provider's stock valued at $2,531,876,000 after purchasing an additional 1,439,149 shares during the period. Geode Capital Management LLC raised its holdings in Western Digital by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 8,745,264 shares of the data storage provider's stock worth $520,450,000 after purchasing an additional 823,656 shares during the last quarter. Norges Bank bought a new stake in Western Digital in the fourth quarter valued at approximately $352,572,000. Northern Trust Corp boosted its holdings in shares of Western Digital by 16.4% in the fourth quarter. Northern Trust Corp now owns 3,397,671 shares of the data storage provider's stock valued at $202,603,000 after buying an additional 478,269 shares during the period. Finally, Parnassus Investments LLC boosted its position in Western Digital by 24.5% during the 4th quarter. Parnassus Investments LLC now owns 2,980,047 shares of the data storage provider's stock worth $177,700,000 after acquiring an additional 586,924 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company's stock.

Western Digital Price Performance

NASDAQ WDC opened at $46.57 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. Western Digital Co. has a 1 year low of $28.83 and a 1 year high of $81.55. The stock's 50-day moving average price is $40.17 and its two-hundred day moving average price is $56.03. The company has a market cap of $16.25 billion, a PE ratio of 11.09 and a beta of 1.42.

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

Western Digital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.86%. Western Digital's payout ratio is presently 7.58%.

Insider Activity

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the transaction, the senior vice president now owns 43,776 shares of the company's stock, valued at $1,810,575.36. The trade was a 3.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WDC. Robert W. Baird decreased their price target on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating on the stock in a research note on Thursday, January 30th. StockNews.com began coverage on shares of Western Digital in a research note on Friday, May 2nd. They issued a "hold" rating on the stock. Wedbush reiterated an "outperform" rating and issued a $60.00 target price on shares of Western Digital in a report on Thursday, May 1st. The Goldman Sachs Group increased their price target on Western Digital from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, Barclays set a $50.00 price target on shares of Western Digital and gave the stock an "overweight" rating in a report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $64.15.

Western Digital 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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