National Pension Service Boosts Position in Western Digital Corporation (NASDAQ:WDC)

National Pension Service raised its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 23.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 284,475 shares of the data storage provider’s stock after buying an additional 53,304 shares during the period. National Pension Service owned approximately 0.10% of Western Digital Corporation worth $26,072,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in WDC. Creative Planning increased its position in shares of Western Digital Corporation by 9.0% in the first quarter. Creative Planning now owns 36,476 shares of the data storage provider’s stock valued at $3,010,000 after buying an additional 3,017 shares in the last quarter. Cornerstone Investment Partners LLC increased its position in shares of Western Digital Corporation by 6.7% in the first quarter. Cornerstone Investment Partners LLC now owns 1,064,167 shares of the data storage provider’s stock valued at $87,826,000 after buying an additional 66,885 shares in the last quarter. Manning & Napier Advisors LLC increased its position in shares of Western Digital Corporation by 3.8% in the first quarter. Manning & Napier Advisors LLC now owns 11,050 shares of the data storage provider’s stock valued at $911,000 after buying an additional 408 shares in the last quarter. CENTRAL TRUST Co increased its position in Western Digital Corporation by 1,399.1% in the first quarter. CENTRAL TRUST Co now owns 3,463 shares of the data storage provider’s stock valued at $285,000 after buying an additional 3,232 shares during the period. Finally, Chevy Chase Trust Holdings Inc. increased its position in Western Digital Corporation by 2.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 353,459 shares of the data storage provider’s stock valued at $29,170,000 after buying an additional 9,569 shares during the period. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Corporation (NASDAQ:WDC) traded down 0.20% during mid-day trading on Friday, hitting $94.82. 2,183,634 shares of the stock were exchanged. The company has a 50-day moving average price of $90.39 and a 200-day moving average price of $82.86. Western Digital Corporation has a one year low of $43.09 and a one year high of $95.77. The company’s market cap is $27.62 billion.

Western Digital Corporation (NASDAQ:WDC) last released its earnings results on Thursday, April 27th. The data storage provider reported $2.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.85 by $0.22. Western Digital Corporation had a negative net margin of 1.32% and a positive return on equity of 16.01%. The business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same period last year, the company earned $1.21 earnings per share. The company’s quarterly revenue was up 64.7% on a year-over-year basis. Analysts forecast that Western Digital Corporation will post $9.04 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a $0.50 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $2.00 annualized dividend and a dividend yield of 2.11%. Western Digital Corporation’s dividend payout ratio is presently -202.02%.

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A number of brokerages recently commented on WDC. Cowen and Company increased their price target on shares of Western Digital Corporation from $90.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Vetr downgraded shares of Western Digital Corporation from a “buy” rating to a “hold” rating and set a $82.28 price target for the company. in a report on Tuesday, March 28th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $140.00 price target on shares of Western Digital Corporation in a report on Wednesday, May 17th. Jefferies Group LLC reissued a “hold” rating and issued a $90.00 price objective on shares of Western Digital Corporation in a research report on Wednesday, June 28th. Finally, Bank of America Corporation raised shares of Western Digital Corporation from a “neutral” rating to a “buy” rating in a research report on Friday, April 28th. Seven analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $102.16.

In related news, insider Mark P. Long sold 11,631 shares of Western Digital Corporation stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $88.49, for a total value of $1,029,227.19. Following the completion of the sale, the insider now owns 79,939 shares in the company, valued at $7,073,802.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark P. Long sold 57,846 shares of Western Digital Corporation stock in a transaction on Monday, May 1st. The stock was sold at an average price of $87.02, for a total transaction of $5,033,758.92. Following the completion of the sale, the insider now owns 114,522 shares of the company’s stock, valued at approximately $9,965,704.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 227,305 shares of company stock worth $20,209,585. 0.46% of the stock is currently owned by corporate insiders.

Western Digital Corporation Company Profile

Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).

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

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