Riverhead Capital Management LLC increased its position in shares of Western Digital Corporation (NASDAQ:WDC) by 11.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,961 shares of the data storage provider’s stock after purchasing an additional 2,734 shares during the period. Riverhead Capital Management LLC’s holdings in Western Digital Corporation were worth $2,389,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in shares of Western Digital Corporation by 1.0% during the 1st quarter. Arizona State Retirement System now owns 71,313 shares of the data storage provider’s stock worth $5,885,000 after purchasing an additional 700 shares during the period. Hillsdale Investment Management Inc. boosted its stake in shares of Western Digital Corporation by 16.9% during the 1st quarter. Hillsdale Investment Management Inc. now owns 5,610 shares of the data storage provider’s stock worth $463,000 after purchasing an additional 810 shares during the period. Korea Investment CORP boosted its stake in shares of Western Digital Corporation by 14.7% during the 2nd quarter. Korea Investment CORP now owns 595,049 shares of the data storage provider’s stock worth $52,721,000 after purchasing an additional 76,459 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Western Digital Corporation by 18.3% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 67,329 shares of the data storage provider’s stock worth $5,965,000 after purchasing an additional 10,428 shares during the period. Finally, L & S Advisors Inc boosted its stake in shares of Western Digital Corporation by 0.6% during the 1st quarter. L & S Advisors Inc now owns 114,928 shares of the data storage provider’s stock worth $9,485,000 after purchasing an additional 648 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

In other Western Digital Corporation news, insider Mark P. Long sold 28,585 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $94.24, for a total transaction of $2,693,850.40. Following the sale, the insider now owns 53,551 shares of the company’s stock, valued at $5,046,646.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark P. Long sold 19,777 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $84.50, for a total transaction of $1,671,156.50. Following the sale, the insider now directly owns 90,683 shares in the company, valued at approximately $7,662,713.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,891 shares of company stock worth $11,854,827. 0.46% of the stock is owned by corporate insiders.

WDC has been the subject of a number of recent analyst reports. Vetr cut shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $95.94 price target for the company. in a research note on Tuesday, August 22nd. Maxim Group reaffirmed a “buy” rating and set a $108.00 price target on shares of Western Digital Corporation in a research note on Wednesday, August 30th. ValuEngine cut shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Western Digital Corporation in a research note on Monday, June 12th. Finally, BidaskClub raised shares of Western Digital Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Eight research 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’s stock. The company presently has an average rating of “Buy” and a consensus target price of $111.34.

Western Digital Corporation (WDC) opened at 85.74 on Thursday. Western Digital Corporation has a 52 week low of $51.79 and a 52 week high of $95.77. The firm’s 50-day moving average is $86.39 and its 200-day moving average is $86.00. The firm has a market cap of $25.04 billion, a price-to-earnings ratio of 63.99 and a beta of 1.21.

Western Digital Corporation (NASDAQ:WDC) last released its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.42. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter last year, the company earned $0.79 earnings per share. The firm’s revenue for the quarter was up 38.5% on a year-over-year basis. On average, equities analysts anticipate that Western Digital Corporation will post $12.54 earnings per share for the current year.

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

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Western Digital Corporation 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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