Parametric Portfolio Associates LLC Has $47.11 Million Stock Holdings in Western Digital Corp (NASDAQ:WDC)

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Parametric Portfolio Associates LLC trimmed its position in Western Digital Corp (NASDAQ:WDC) by 11.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 990,807 shares of the data storage provider’s stock after selling 126,003 shares during the quarter. Parametric Portfolio Associates LLC owned 0.34% of Western Digital worth $47,113,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WDC. Arthur M. Cohen & Associates LLC grew its holdings in shares of Western Digital by 2.6% during the 2nd quarter. Arthur M. Cohen & Associates LLC now owns 7,950 shares of the data storage provider’s stock worth $378,000 after purchasing an additional 200 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Western Digital by 6.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,237 shares of the data storage provider’s stock worth $154,000 after purchasing an additional 210 shares in the last quarter. YorkBridge Wealth Partners LLC grew its holdings in shares of Western Digital by 45.6% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 887 shares of the data storage provider’s stock worth $43,000 after purchasing an additional 278 shares in the last quarter. Sumitomo Life Insurance Co. grew its holdings in shares of Western Digital by 2.3% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 13,075 shares of the data storage provider’s stock worth $622,000 after purchasing an additional 295 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Western Digital by 66.1% during the 1st quarter. Global Retirement Partners LLC now owns 746 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 297 shares in the last quarter. 86.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of WDC stock traded down $0.10 on Friday, hitting $64.60. 2,367,381 shares of the company’s stock were exchanged, compared to its average volume of 3,728,327. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.22 and a quick ratio of 1.36. Western Digital Corp has a 12 month low of $33.83 and a 12 month high of $65.31. The stock has a market cap of $19.15 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 17.84 and a beta of 1.85. The company has a 50 day moving average of $56.52 and a 200 day moving average of $49.58.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.22. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.67 billion. Western Digital had a positive return on equity of 10.73% and a negative net margin of 4.55%. Western Digital’s revenue for the quarter was down 29.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.61 EPS. Sell-side analysts predict that Western Digital Corp will post 1.81 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Friday, October 4th will be given a $0.50 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $2.00 annualized dividend and a yield of 3.10%. Western Digital’s dividend payout ratio is presently 52.49%.

Several analysts have recently issued reports on the company. UBS Group set a $63.00 target price on Western Digital and gave the stock a “hold” rating in a report on Tuesday, September 10th. Goldman Sachs Group set a $54.00 target price on Western Digital and gave the stock a “hold” rating in a report on Sunday, July 21st. Deutsche Bank increased their target price on Western Digital from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. KeyCorp reissued a “hold” rating on shares of Western Digital in a report on Tuesday, September 10th. Finally, Longbow Research increased their target price on Western Digital from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $61.83.

In other Western Digital news, EVP Michael Charles Ray sold 87,053 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $59.96, for a total value of $5,219,697.88. Following the completion of the transaction, the executive vice president now directly owns 112,480 shares in the company, valued at $6,744,300.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lori S. Sundberg sold 3,442 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $56.82, for a total value of $195,574.44. Following the completion of the transaction, the executive vice president now owns 29,312 shares of the company’s stock, valued at $1,665,507.84. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.

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

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