Vanguard Personalized Indexing Management LLC Raises Stake in Western Digital Corporation $WDC

Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 96.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 53,570 shares of the data storage provider's stock after purchasing an additional 26,234 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Western Digital were worth $3,428,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. UMB Bank n.a. grew its position in Western Digital by 6.2% during the 2nd quarter. UMB Bank n.a. now owns 3,465 shares of the data storage provider's stock worth $222,000 after purchasing an additional 202 shares during the last quarter. Allworth Financial LP grew its position in Western Digital by 34.1% during the 1st quarter. Allworth Financial LP now owns 955 shares of the data storage provider's stock worth $38,000 after purchasing an additional 243 shares during the last quarter. Truvestments Capital LLC grew its position in Western Digital by 11.7% during the 1st quarter. Truvestments Capital LLC now owns 2,483 shares of the data storage provider's stock worth $100,000 after purchasing an additional 261 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in Western Digital by 4.5% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,080 shares of the data storage provider's stock worth $246,000 after purchasing an additional 263 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Western Digital by 0.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,395 shares of the data storage provider's stock worth $1,835,000 after acquiring an additional 264 shares during the period. 92.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on WDC. Weiss Ratings restated a "hold (c)" rating on shares of Western Digital in a research note on Wednesday, October 8th. Wedbush raised their target price on shares of Western Digital from $78.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Zacks Research cut shares of Western Digital from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. Benchmark raised their target price on shares of Western Digital from $85.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Finally, Barclays raised their target price on shares of Western Digital from $80.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Seventeen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $98.84.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 3,160 shares of Western Digital 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 approximately $2,388,460.80. The trade was a 9.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vidyadhara K. Gubbi sold 11,343 shares of Western Digital stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $90.29, for a total transaction of $1,024,159.47. Following the sale, the insider owned 151,596 shares of the company's stock, valued at approximately $13,687,602.84. This trade represents a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,730 shares of company stock worth $3,921,594. 0.18% of the stock is currently owned by insiders.

Western Digital Stock Performance

Shares of WDC opened at $113.13 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The stock has a market cap of $38.78 billion, a P/E ratio of 21.97, a PEG ratio of 1.00 and a beta of 1.77. The company has a 50-day moving average of $96.36 and a two-hundred day moving average of $68.12. Western Digital Corporation has a 12-month low of $28.83 and a 12-month high of $137.40.

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

Western Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. Western Digital's payout ratio is presently 7.77%.

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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