DekaBank Deutsche Girozentrale Increases Position in Western Digital Corporation $WDC

Key Points

• DekaBank Deutsche Girozentrale increased its stake in Western Digital Corporation by 2.3%, now owning 240,010 shares valued at approximately $15.23 million.
• Insider sales were reported, with two executives selling a combined total of 17,227 shares, indicating a decrease in their positions by approximately 9% each.
• Equities analysts have recently upgraded their price targets on Western Digital, with Wells Fargo raising it from $95 to $150 and Mizuho from $120 to $160, reflecting positive sentiment about the company's future.

DekaBank Deutsche Girozentrale increased its stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,010 shares of the data storage provider's stock after buying an additional 5,405 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.07% of Western Digital worth $15,234,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WDC. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Western Digital by 52.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,838 shares of the data storage provider's stock valued at $1,166,000 after buying an additional 9,974 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Western Digital by 4.6% during the first quarter. Janney Montgomery Scott LLC now owns 35,648 shares of the data storage provider's stock valued at $1,441,000 after buying an additional 1,553 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of Western Digital by 34.8% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,046 shares of the data storage provider's stock valued at $406,000 after buying an additional 2,591 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in Western Digital by 5.1% in the first quarter. Asset Management One Co. Ltd. now owns 144,307 shares of the data storage provider's stock valued at $5,834,000 after purchasing an additional 6,947 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC boosted its holdings in Western Digital by 0.6% in the first quarter. Chevy Chase Trust Holdings LLC now owns 182,417 shares of the data storage provider's stock valued at $7,375,000 after purchasing an additional 1,006 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Western Digital

In related news, 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 completion of the transaction, the senior vice president owned 31,560 shares in the company, valued at $2,388,460.80. This represents a 9.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cynthia L. Tregillis sold 14,067 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the transaction, the insider owned 135,351 shares of the company's stock, valued at approximately $10,121,547.78. This trade represents a 9.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,730 shares of company stock worth $3,921,594 in the last quarter. Company insiders own 0.18% of the company's stock.

Western Digital Trading Up 4.4%

WDC stock opened at $125.72 on Friday. The company's 50-day simple moving average is $103.07 and its 200-day simple moving average is $72.08. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.47. Western Digital Corporation has a 52-week low of $28.83 and a 52-week high of $137.40. The firm has a market cap of $43.10 billion, a P/E ratio of 24.41, a PEG ratio of 0.98 and a beta of 1.77.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its earnings results on Monday, April 7th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. The business had revenue of $4.10 billion for the quarter. As a group, equities analysts forecast that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price target on shares of Western Digital from $95.00 to $150.00 and gave the company an "overweight" rating in a report on Monday, October 13th. Sanford C. Bernstein raised shares of Western Digital to a "hold" rating in a report on Tuesday, September 16th. Mizuho upped their price target on shares of Western Digital from $120.00 to $160.00 and gave the company an "outperform" rating in a report on Friday, October 17th. Morgan Stanley upped their price target on shares of Western Digital from $92.00 to $99.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Finally, Bank of America upped their price target on shares of Western Digital from $141.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Western Digital currently has an average rating of "Moderate Buy" and an average price target of $109.84.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.