Lumina Fund Management LLC reduced its stake in Western Digital Corporation (NASDAQ:WDC) by 20.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the data storage provider’s stock after selling 2,500 shares during the period. Lumina Fund Management LLC’s holdings in Western Digital Corporation were worth $886,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Western Digital Corporation by 4.2% in the second quarter. Vanguard Group Inc. now owns 29,942,849 shares of the data storage provider’s stock valued at $2,652,936,000 after acquiring an additional 1,201,394 shares in the last quarter. Iridian Asset Management LLC CT raised its stake in shares of Western Digital Corporation by 1.8% in the second quarter. Iridian Asset Management LLC CT now owns 5,641,706 shares of the data storage provider’s stock valued at $499,855,000 after acquiring an additional 100,195 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Western Digital Corporation by 10.0% in the second quarter. Ameriprise Financial Inc. now owns 4,443,866 shares of the data storage provider’s stock valued at $393,778,000 after acquiring an additional 405,293 shares in the last quarter. Northern Trust Corp raised its stake in shares of Western Digital Corporation by 0.5% in the second quarter. Northern Trust Corp now owns 3,191,625 shares of the data storage provider’s stock valued at $282,778,000 after acquiring an additional 16,436 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Western Digital Corporation by 9.6% in the first quarter. Geode Capital Management LLC now owns 3,031,364 shares of the data storage provider’s stock valued at $249,848,000 after acquiring an additional 264,706 shares in the last quarter. Institutional investors and hedge funds own 82.42% of the company’s stock.

In related news, insider Michael D. Cordano sold 9,404 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $88.71, for a total value of $834,228.84. Following the completion of the sale, the insider now owns 75,385 shares in the company, valued at approximately $6,687,403.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark P. Long sold 1,517 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $80.97, for a total transaction of $122,831.49. Following the completion of the sale, the chief financial officer now owns 88,207 shares of the company’s stock, valued at approximately $7,142,120.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,295 shares of company stock valued at $12,689,056. Company insiders own 0.46% of the company’s stock.

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WDC has been the topic of several analyst reports. Vetr cut Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $95.94 price objective on the stock. in a research note on Tuesday, August 22nd. Maxim Group reiterated a “buy” rating and issued a $108.00 price objective on shares of Western Digital Corporation in a research note on Wednesday, August 30th. ValuEngine cut Western Digital Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Royal Bank Of Canada reiterated a “buy” rating on shares of Western Digital Corporation in a research note on Monday, June 12th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $117.00 price objective on shares of Western Digital Corporation in a research note on Thursday. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Western Digital Corporation presently has an average rating of “Buy” and an average price target of $111.34.

Shares of Western Digital Corporation (NASDAQ WDC) traded up 1.16% on Friday, hitting $86.48. The company had a trading volume of 3,152,283 shares. Western Digital Corporation has a 12 month low of $52.10 and a 12 month high of $95.77. The company has a 50-day moving average of $86.12 and a 200 day moving average of $86.39. The stock has a market cap of $25.50 billion, a PE ratio of 64.54 and a beta of 1.21.

Western Digital Corporation (NASDAQ:WDC) last released its earnings results on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the business earned $0.79 earnings per share. The business’s quarterly revenue was up 38.5% on a year-over-year basis. Analysts anticipate that Western Digital Corporation will post $12.50 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, September 28th. Western Digital Corporation’s dividend payout ratio is presently 156.25%.

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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