Today: Western Digital Corp. (WDC) Short Interest Update

Today: Western Digital Corp. (WDC) Short Interest Update

Western Digital Corp. (NASDAQ:WDC) was the recipient of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 11,266,499 shares, a decline of 34.0% from the October 31st total of 17,083,185 shares. Based on an average trading volume of 4,252,060 shares, the short-interest ratio is presently 2.6 days. Approximately 4.1% of the shares of the company are sold short.

A number of research analysts have recently issued reports on WDC shares. Vetr upgraded shares of Western Digital Corp. from a “buy” rating to a “strong-buy” rating and set a $73.29 price target on the stock in a research note on Tuesday, November 22nd. Susquehanna reiterated a “positive” rating and set a $88.00 price target (up from $80.00) on shares of Western Digital Corp. in a research note on Thursday, October 27th. Brean Capital set a $97.00 price target on shares of Western Digital Corp. and gave the stock a “buy” rating in a research note on Thursday, October 27th. Benchmark Co. set a $85.00 price target on shares of Western Digital Corp. and gave the stock a “buy” rating in a research note on Thursday, October 27th. Finally, Royal Bank Of Canada boosted their price target on shares of Western Digital Corp. from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, October 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Western Digital Corp. presently has a consensus rating of “Buy” and an average target price of $68.03.

Shares of Western Digital Corp. (NASDAQ:WDC) opened at 61.59 on Monday. Western Digital Corp. has a 12 month low of $34.99 and a 12 month high of $64.73. The company’s market capitalization is $17.58 billion. The company has a 50-day moving average of $57.25 and a 200 day moving average of $50.49.

Western Digital Corp. (NASDAQ:WDC) last issued its earnings results on Wednesday, October 26th. The data storage provider reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.13. Western Digital Corp. had a negative net margin of 2.73% and a positive return on equity of 11.74%. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter in the previous year, the company earned $1.56 EPS. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. Analysts forecast that Western Digital Corp. will post $6.62 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, December 28th. This represents a $2.00 annualized dividend and a dividend yield of 3.25%. Western Digital Corp.’s dividend payout ratio is presently -162.60%.

In other Western Digital Corp. news, insider Michael D. Cordano sold 7,185 shares of Western Digital Corp. stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $54.50, for a total value of $391,582.50. Following the transaction, the insider now directly owns 82,988 shares in the company, valued at $4,522,846. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Matthew E. Massengill sold 2,187 shares of Western Digital Corp. stock in a transaction on Monday, November 7th. The shares were sold at an average price of $57.31, for a total transaction of $125,336.97. Following the completion of the transaction, the director now owns 15,579 shares in the company, valued at $892,832.49. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of WDC. American International Group Inc. increased its stake in shares of Western Digital Corp. by 8,124.5% in the second quarter. American International Group Inc. now owns 9,620,001 shares of the data storage provider’s stock valued at $454,641,000 after buying an additional 9,503,034 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Western Digital Corp. by 24.7% in the second quarter. Vanguard Group Inc. now owns 24,858,936 shares of the data storage provider’s stock valued at $1,174,834,000 after buying an additional 4,925,997 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of Western Digital Corp. by 103.1% in the second quarter. Neuberger Berman Group LLC now owns 3,393,531 shares of the data storage provider’s stock valued at $160,379,000 after buying an additional 1,722,928 shares in the last quarter. DNB Asset Management AS increased its stake in shares of Western Digital Corp. by 168.9% in the second quarter. DNB Asset Management AS now owns 2,357,775 shares of the data storage provider’s stock valued at $111,428,000 after buying an additional 1,480,995 shares in the last quarter. Finally, Appaloosa LP purchased a new stake in shares of Western Digital Corp. during the second quarter valued at approximately $68,527,000. Institutional investors own 87.20% of the company’s stock.

About Western Digital Corp.

Related posts

Leave a Comment