TIAA CREF Investment Management LLC boosted its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,565,700 shares of the data storage provider’s stock after acquiring an additional 58,314 shares during the period. TIAA CREF Investment Management LLC owned about 0.54% of Western Digital Corporation worth $138,721,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in Western Digital Corporation by 4.5% during the first quarter. Vanguard Group Inc. now owns 28,741,455 shares of the data storage provider’s stock worth $2,372,032,000 after acquiring an additional 1,250,528 shares during the last quarter. Iridian Asset Management LLC CT raised its position in Western Digital Corporation by 1.8% during the second quarter. Iridian Asset Management LLC CT now owns 5,641,706 shares of the data storage provider’s stock worth $499,855,000 after acquiring an additional 100,195 shares during the last quarter. Ameriprise Financial Inc. raised its position in Western Digital Corporation by 10.4% during the first quarter. Ameriprise Financial Inc. now owns 4,038,573 shares of the data storage provider’s stock worth $333,102,000 after acquiring an additional 380,404 shares during the last quarter. Geode Capital Management LLC raised its position in Western Digital Corporation by 9.6% during the first quarter. Geode Capital Management LLC now owns 3,031,364 shares of the data storage provider’s stock worth $249,848,000 after acquiring an additional 264,706 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Western Digital Corporation by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,978,975 shares of the data storage provider’s stock worth $245,876,000 after acquiring an additional 7,910 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Western Digital Corporation (NASDAQ WDC) traded up 0.27% during mid-day trading on Thursday, hitting $85.97. 360,857 shares of the company were exchanged. Western Digital Corporation has a 12-month low of $51.79 and a 12-month high of $95.77. The stock’s 50 day moving average is $86.39 and its 200-day moving average is $86.00. The company has a market cap of $25.10 billion, a price-to-earnings ratio of 64.16 and a beta of 1.21.

Western Digital Corporation (NASDAQ:WDC) last released its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.51 by $0.42. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the business posted $0.79 earnings per share. The firm’s revenue for the quarter was up 38.5% compared to the same quarter last year. Equities research analysts predict that Western Digital Corporation will post $12.50 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $0.50 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.33%. Western Digital Corporation’s dividend payout ratio is 156.25%.

In related news, insider Mark P. Long sold 1,446 shares of Western Digital Corporation stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $87.63, for a total value of $126,712.98. Following the completion of the sale, the insider now directly owns 86,939 shares in the company, valued at $7,618,464.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Srinivasan Sivaram sold 16,049 shares of Western Digital Corporation stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $85.06, for a total value of $1,365,127.94. The disclosure for this sale can be found here. Insiders sold 134,891 shares of company stock valued at $11,854,827 over the last ninety days. 0.46% of the stock is currently owned by company insiders.

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A number of equities analysts have recently weighed in on the stock. Summit Redstone reissued a “hold” rating on shares of Western Digital Corporation in a research report on Wednesday. Royal Bank Of Canada reissued a “buy” rating and issued a $115.00 price objective on shares of Western Digital Corporation in a research report on Tuesday. Vetr raised shares of Western Digital Corporation from a “buy” rating to a “strong-buy” rating and set a $100.00 price objective for the company in a research report on Tuesday. Benchmark Co. reissued a “buy” rating and issued a $135.00 price objective on shares of Western Digital Corporation in a research report on Thursday, September 7th. Finally, Mizuho reissued a “buy” rating and issued a $105.00 price objective on shares of Western Digital Corporation in a research report on Tuesday, September 5th. Eight analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $111.34.

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).

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

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