BLB&B Advisors LLC Purchases 1,743 Shares of Western Digital Corp (NASDAQ:WDC)

BLB&B Advisors LLC boosted its position in Western Digital Corp (NASDAQ:WDC) by 4.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,121 shares of the data storage provider’s stock after purchasing an additional 1,743 shares during the period. BLB&B Advisors LLC’s holdings in Western Digital were worth $1,955,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in WDC. Louisiana State Employees Retirement System boosted its holdings in Western Digital by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the data storage provider’s stock valued at $740,000 after acquiring an additional 200 shares during the last quarter. BTIM Corp. increased its position in shares of Western Digital by 1.3% during the first quarter. BTIM Corp. now owns 17,855 shares of the data storage provider’s stock worth $858,000 after acquiring an additional 225 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Western Digital by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 13,079 shares of the data storage provider’s stock worth $484,000 after acquiring an additional 230 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Western Digital by 57.0% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 650 shares of the data storage provider’s stock valued at $31,000 after buying an additional 236 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC increased its holdings in Western Digital by 45.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 887 shares of the data storage provider’s stock valued at $43,000 after buying an additional 278 shares during the last quarter. 88.17% of the stock is owned by institutional investors.

Shares of NASDAQ:WDC opened at $54.06 on Friday. The firm has a market cap of $16.29 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 15.33 and a beta of 1.87. The company’s fifty day simple moving average is $52.79 and its 200 day simple moving average is $48.12. Western Digital Corp has a 12 month low of $33.83 and a 12 month high of $65.49. The company has a quick ratio of 1.36, a current ratio of 2.22 and a debt-to-equity ratio of 1.03.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.22. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.67 billion. Western Digital had a negative net margin of 4.55% and a positive return on equity of 10.73%. The business’s revenue for the quarter was down 29.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.61 EPS. Research analysts expect that Western Digital Corp will post 1.81 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Friday, October 4th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $2.00 annualized dividend and a dividend yield of 3.70%. Western Digital’s dividend payout ratio is currently 52.49%.

WDC has been the subject of several research analyst reports. Cleveland Research initiated coverage on Western Digital in a report on Friday, June 7th. They issued a “hold” rating for the company. Wells Fargo & Co upped their target price on Western Digital from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Cowen reaffirmed a “market perform” rating and set a $45.00 target price (up from $40.00) on shares of Western Digital in a report on Thursday, August 1st. Craig Hallum upped their target price on Western Digital from $54.00 to $64.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Finally, Citigroup reduced their price objective on Western Digital from $63.00 to $59.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $59.71.

Western Digital Profile

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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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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