Callan Family Office LLC Makes New $919,000 Investment in Western Digital Corporation $WDC

Key Points

• Callan Family Office LLC has invested approximately $919,000 in Western Digital Corporation by purchasing 14,354 shares of the company's stock during the 2nd quarter.
• Western Digital recently reported a quarterly earnings per share (EPS) of $1.78 and revenue of $4.10 billion, with analysts predicting an EPS of 4.89 for the current year.
• The company has declared a quarterly dividend of $0.10 per share, representing an annualized yield of 0.3% and a payout ratio of 7.77%.

Callan Family Office LLC purchased a new position in Western Digital Corporation (NASDAQ:WDC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 14,354 shares of the data storage provider's stock, valued at approximately $919,000.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Western Digital by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 42,938,495 shares of the data storage provider's stock worth $1,736,003,000 after purchasing an additional 478,728 shares in the last quarter. Alyeska Investment Group L.P. lifted its stake in Western Digital by 130.0% in the 1st quarter. Alyeska Investment Group L.P. now owns 5,029,359 shares of the data storage provider's stock worth $203,337,000 after purchasing an additional 2,842,822 shares in the last quarter. Northern Trust Corp lifted its stake in Western Digital by 1.5% in the 1st quarter. Northern Trust Corp now owns 3,449,811 shares of the data storage provider's stock worth $139,476,000 after purchasing an additional 52,140 shares in the last quarter. Deutsche Bank AG lifted its stake in Western Digital by 107.1% in the 1st quarter. Deutsche Bank AG now owns 3,369,331 shares of the data storage provider's stock worth $136,222,000 after purchasing an additional 1,742,481 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Western Digital by 8.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,933,278 shares of the data storage provider's stock worth $118,574,000 after purchasing an additional 216,387 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company's stock.

Western Digital Stock Performance

Shares of NASDAQ:WDC opened at $115.42 on Monday. The company has a market capitalization of $39.57 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 0.97 and a beta of 1.77. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $137.40. The firm's 50-day moving average is $94.78 and its 200 day moving average is $67.26. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Monday, April 7th. The data storage provider reported $1.78 EPS for the quarter. The company had revenue of $4.10 billion for the quarter. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. Research analysts predict that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, September 4th. Western Digital's dividend payout ratio is presently 7.77%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WDC. Citigroup boosted their target price on shares of Western Digital from $88.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Weiss Ratings restated a "hold (c)" rating on shares of Western Digital in a report on Wednesday, October 8th. Barclays boosted their target price on shares of Western Digital from $80.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. UBS Group boosted their target price on shares of Western Digital from $45.00 to $75.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, The Goldman Sachs Group boosted their target price on shares of Western Digital from $78.00 to $130.00 and gave the stock a "neutral" rating in a report on Wednesday, October 8th. Seventeen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.63.

Insider Activity

In related news, insider Cynthia L. Tregillis sold 14,067 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the transaction, the insider directly owned 135,351 shares in the company, valued at approximately $10,121,547.78. This represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Gene M. Zamiska sold 3,160 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $75.68, for a total transaction of $239,148.80. Following the transaction, the senior vice president owned 31,560 shares in the company, valued at $2,388,460.80. The trade was a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,730 shares of company stock valued at $3,921,594. 0.18% of the stock is currently owned by company insiders.

About Western Digital

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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