Candriam Luxembourg S.C.A. boosted its position in shares of Western Digital Corp (NASDAQ:WDC) by 184.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 103,994 shares of the data storage provider’s stock after acquiring an additional 67,478 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Western Digital were worth $3,844,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its position in shares of Western Digital by 6,696.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,203,643 shares of the data storage provider’s stock worth $222,000 after buying an additional 8,082,941 shares during the last quarter. American International Group Inc. lifted its position in shares of Western Digital by 1,949.8% during the 4th quarter. American International Group Inc. now owns 7,444,864 shares of the data storage provider’s stock worth $275,237,000 after buying an additional 7,081,673 shares during the last quarter. BlackRock Inc. lifted its position in shares of Western Digital by 22.3% during the 3rd quarter. BlackRock Inc. now owns 25,731,691 shares of the data storage provider’s stock worth $1,506,333,000 after buying an additional 4,690,847 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Western Digital by 3,492.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,858,781 shares of the data storage provider’s stock worth $225,893,000 after buying an additional 3,751,373 shares during the last quarter. Finally, Capital International Investors purchased a new stake in shares of Western Digital during the 3rd quarter worth approximately $140,496,000. Institutional investors own 84.47% of the company’s stock.
WDC stock opened at $48.39 on Friday. Western Digital Corp has a 12 month low of $33.83 and a 12 month high of $99.32. The firm has a market capitalization of $15.06 billion, a P/E ratio of 3.58, a price-to-earnings-growth ratio of 0.58 and a beta of 1.49. The company has a quick ratio of 1.45, a current ratio of 2.24 and a debt-to-equity ratio of 0.95.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 4.13%. Western Digital’s dividend payout ratio is currently 14.80%.
Several brokerages have recently weighed in on WDC. Zacks Investment Research downgraded shares of Western Digital from a “hold” rating to a “sell” rating in a research report on Saturday, January 26th. Royal Bank of Canada boosted their price objective on shares of Western Digital to $46.00 and gave the stock a “sector perform” rating in a research report on Friday, January 25th. Cowen restated a “market perform” rating and set a $50.00 price objective (down previously from $60.00) on shares of Western Digital in a research report on Thursday, December 6th. ValuEngine upgraded shares of Western Digital from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Finally, Benchmark restated a “hold” rating on shares of Western Digital in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $67.79.
In other Western Digital news, insider Mark P. Long sold 17,623 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $50.00, for a total value of $881,150.00. Following the transaction, the insider now directly owns 158,744 shares of the company’s stock, valued at approximately $7,937,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.36% of the company’s stock.
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About Western Digital
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.
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