US Bancorp DE Acquires 2,988 Shares of Western Digital Corporation $WDC

US Bancorp DE grew its holdings in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 4.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,177 shares of the data storage provider's stock after buying an additional 2,988 shares during the quarter. US Bancorp DE's holdings in Western Digital were worth $4,683,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WDC. Zions Bancorporation National Association UT purchased a new stake in shares of Western Digital in the first quarter valued at approximately $29,000. Allworth Financial LP boosted its holdings in shares of Western Digital by 34.1% in the first quarter. Allworth Financial LP now owns 955 shares of the data storage provider's stock valued at $38,000 after purchasing an additional 243 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in shares of Western Digital in the first quarter valued at approximately $40,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Western Digital by 242.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,208 shares of the data storage provider's stock valued at $49,000 after purchasing an additional 855 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in shares of Western Digital by 91.2% in the first quarter. Brooklyn Investment Group now owns 1,279 shares of the data storage provider's stock valued at $52,000 after purchasing an additional 610 shares during the period. Institutional investors own 92.51% of the company's stock.

Western Digital Stock Up 3.0%

Western Digital stock opened at $118.86 on Tuesday. The business has a fifty day moving average of $95.62 and a two-hundred day moving average of $67.80. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.47. The firm has a market cap of $40.75 billion, a P/E ratio of 23.08, a P/E/G ratio of 0.97 and a beta of 1.77. Western Digital Corporation has a twelve month low of $28.83 and a twelve month high of $137.40.

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

Western Digital Dividend Announcement

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

Insiders Place Their Bets

In other news, SVP Gene M. Zamiska sold 3,160 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $75.68, for a total transaction of $239,148.80. Following the transaction, the senior vice president directly owned 31,560 shares of the company's stock, valued at approximately $2,388,460.80. This represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Irving Tan sold 8,621 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $75.90, for a total value of $654,333.90. Following the transaction, the chief executive officer directly owned 594,836 shares in the company, valued at approximately $45,148,052.40. The trade was a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,730 shares of company stock valued at $3,921,594. Company insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WDC shares. Bank of America boosted their price target on Western Digital from $123.00 to $141.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. TD Cowen boosted their price target on Western Digital from $58.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Weiss Ratings reiterated a "hold (c)" rating on shares of Western Digital in a report on Wednesday, October 8th. Wells Fargo & Company boosted their price target on Western Digital from $95.00 to $150.00 and gave the company an "overweight" rating in a report on Monday. Finally, Susquehanna upped their target price on Western Digital from $40.00 to $62.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Seventeen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Western Digital presently has an average rating of "Moderate Buy" and a consensus price target of $98.84.

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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