Palo Capital Inc. decreased its position in Western Digital Corporation (NASDAQ:WDC) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 15,630 shares of the data storage provider’s stock after selling 62 shares during the period. Palo Capital Inc.’s holdings in Western Digital Corporation were worth $1,385,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. American Beacon Advisors Inc. purchased a new stake in shares of Western Digital Corporation during the first quarter valued at about $111,000. Acrospire Investment Management LLC purchased a new stake in shares of Western Digital Corporation during the first quarter valued at about $112,000. Reilly Financial Advisors LLC increased its stake in shares of Western Digital Corporation by 49.8% in the first quarter. Reilly Financial Advisors LLC now owns 1,383 shares of the data storage provider’s stock valued at $114,000 after buying an additional 460 shares during the period. Harbour Capital Advisors LLC purchased a new stake in shares of Western Digital Corporation during the first quarter valued at about $117,000. Finally, SRS Capital Advisors Inc. increased its stake in shares of Western Digital Corporation by 26.7% in the first quarter. SRS Capital Advisors Inc. now owns 1,453 shares of the data storage provider’s stock valued at $119,000 after buying an additional 306 shares during the period. Institutional investors own 82.29% of the company’s stock.

Western Digital Corporation (NASDAQ:WDC) traded up 0.14% on Monday, reaching $94.57. 2,475,424 shares of the company traded hands. Western Digital Corporation has a one year low of $43.09 and a one year high of $95.51. The company’s market capitalization is $27.54 billion. The stock’s 50 day moving average price is $89.47 and its 200 day moving average price is $80.58.

Western Digital Corporation (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 27th. The data storage provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.22. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.57 billion. Western Digital Corporation had a negative net margin of 1.32% and a positive return on equity of 16.01%. Western Digital Corporation’s revenue was up 64.7% compared to the same quarter last year. During the same period last year, the business earned $1.21 EPS. On average, equities research analysts predict that Western Digital Corporation will post $9.02 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.12%. Western Digital Corporation’s dividend payout ratio is currently -202.02%.

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Several equities research analysts recently issued reports on WDC shares. Mizuho reiterated a “buy” rating and issued a $92.00 target price on shares of Western Digital Corporation in a research note on Wednesday, April 12th. Stifel Nicolaus reiterated a “buy” rating and issued a $105.00 target price on shares of Western Digital Corporation in a research note on Tuesday, April 18th. Zacks Investment Research upgraded shares of Western Digital Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Friday, April 21st. Vetr downgraded shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $94.27 target price for the company. in a research note on Monday, April 24th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $104.00 target price on shares of Western Digital Corporation in a research note on Thursday, April 27th. Seven analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $102.16.

In other Western Digital Corporation news, insider Mark P. Long sold 11,631 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $88.49, for a total transaction of $1,029,227.19. Following the completion of the sale, the insider now directly owns 79,939 shares in the company, valued at approximately $7,073,802.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark P. Long sold 57,846 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $87.02, for a total transaction of $5,033,758.92. Following the sale, the insider now owns 114,522 shares of the company’s stock, valued at $9,965,704.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 176,738 shares of company stock valued at $15,447,296. 0.46% of the stock is owned by company insiders.

About Western Digital Corporation

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).

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

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