Other hedge funds have also added to or reduced their stakes in the company. Hanlon Investment Management Inc. raised its position in Western Digital Corporation by 19.9% in the second quarter. Hanlon Investment Management Inc. now owns 97,893 shares of the data storage provider's stock valued at $4,626,000 after buying an additional 16,248 shares during the last quarter. Jennison Associates LLC raised its position in shares of West Corporation by 11.0% in the third quarter. NY acquired a new stake in shares of Western Digital Corporation during the third quarter valued at approximately $77,016,000. Finally, AGF Investments Inc. raised its position in Western Digital Corporation by 20.8% in the second quarter. Ameriprise Financial Inc. now owns 10,557,669 shares of the company's stock worth $147,604,000 after buying an additional 1,230,617 shares during the last quarter. The Company now has Insider ownership of 0.3 Percent and Institutional Ownership of 90.6 Percent.
Western Digital Corporation (NASDAQ:WDC) ended its day at $77.08 with the rising stream of -2.49% and its total traded volume was 4.49 million shares more than the average volume. The stock had a trading volume of 259,714 shares. The company's 50 day moving average is $73.89 and its 200-day moving average is $59.75. A President and COO at Western Digital Corporation (WDC) offloaded shares in a transaction closed on Monday February 06, 2017. The company addresses ever-changing market needs by providing a full portfolio of compelling, high-quality storage solutions with customer-focused innovation, high efficiency, flexibility and speed.
A number of analysts offered their Estimated Earnings analysis for Western Digital Corporation (NASDAQ:WDC) for the current quarter. The data storage provider reported $2.30 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $2.12 by $0.18. Western Digital Corporation had a negative net margin of 2.56% and a positive return on equity of 13.38%. The firm had revenue of $4.89 billion for the quarter, compared to analysts' expectations of $4.76 billion. One quarter earlier, revenue for the stock was at $4.71 billion, with earnings at $1.18/share. Last year, it had about $2.82 billion of revenue. Analyst's mean target price for WDC is $92.31 while analysts mean recommendation is 1.90.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 2nd. The high end of the earnings forecast is $0.32 per share and low end is $0.13 per share. This represents a $0.90 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Wednesday, March 29th.
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BMO Capital Markets reiterated an "outperform" rating on shares of Western Digital Corporation in a report on Wednesday. Finally, Deutsche Bank AG restated a "buy" rating and set a $68.00 price target on shares of Western Digital Corporation in a research report on Friday, October 21st. Zacks Investment Research upgraded shares of News Corporation from a "sell" rating to a "hold" rating in a report on Tuesday, January 10th. TheStreet upgraded Western Digital Corporation from a "c" rating to a "b-" rating in a report on Wednesday, January 25th.
West Corporation (NASDAQ:WSTC) has received an average rating of "Hold" from the eight research firms that are presently covering the stock. Also, the current price highlights a discount of 15.87 to analysts' high consensus price target. State of New Jersey Common Pension Fund D now owns 1,113,209 shares of the data storage provider's stock valued at $65,089,000 after buying an additional 910,000 shares in the last quarter. The company's Relative strength index is 61.27. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. A P/B ratio of less than 1.0 can indicate that a stock is undervalued, while a ratio of greater than 1.0 may indicate that a stock is overvalued.