Teachers Retirement System of The State of Kentucky grew its holdings in Western Digital Corporation (NASDAQ:WDC) by 33.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 393,045 shares of the data storage provider’s stock after buying an additional 98,021 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.13% of Western Digital Corporation worth $34,823,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in WDC. UBS Asset Management Americas Inc. raised its holdings in shares of Western Digital Corporation by 52.2% in the first quarter. UBS Asset Management Americas Inc. now owns 2,393,005 shares of the data storage provider’s stock valued at $197,495,000 after buying an additional 821,155 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Western Digital Corporation by 3.9% in the first quarter. Mutual of America Capital Management LLC now owns 43,982 shares of the data storage provider’s stock valued at $3,630,000 after buying an additional 1,669 shares during the last quarter. Pitcairn Co. raised its holdings in shares of Western Digital Corporation by 138.5% in the first quarter. Pitcairn Co. now owns 9,575 shares of the data storage provider’s stock valued at $790,000 after buying an additional 5,560 shares during the last quarter. Sprott Inc. raised its holdings in shares of Western Digital Corporation by 1.4% in the first quarter. Sprott Inc. now owns 108,500 shares of the data storage provider’s stock valued at $8,955,000 after buying an additional 1,500 shares during the last quarter. Finally, Norinchukin Bank The raised its holdings in shares of Western Digital Corporation by 8.1% in the first quarter. Norinchukin Bank The now owns 18,718 shares of the data storage provider’s stock valued at $1,545,000 after buying an additional 1,400 shares during the last quarter. 82.42% of the stock is owned by institutional investors and hedge funds.

Shares of Western Digital Corporation (NASDAQ WDC) traded up 1.16% during mid-day trading on Friday, reaching $86.48. 3,152,283 shares of the company traded hands. Western Digital Corporation has a 52-week low of $52.10 and a 52-week high of $95.77. The stock has a market capitalization of $25.50 billion, a PE ratio of 64.54 and a beta of 1.21. The stock’s 50 day moving average is $86.12 and its 200 day moving average is $86.39.

Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, topping 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 company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the business earned $0.79 EPS. The business’s quarterly revenue was up 38.5% on a year-over-year basis. On average, analysts anticipate that Western Digital Corporation will post $12.50 earnings per share for the current year.

The company 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 $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 annualized dividend and a dividend yield of 2.31%. Western Digital Corporation’s dividend payout ratio is presently 156.25%.

Several research analysts recently issued reports on WDC shares. Cowen and Company reissued an “outperform” rating and set a $117.00 price target on shares of Western Digital Corporation in a report on Thursday. UBS AG reissued an “add” rating on shares of Western Digital Corporation in a report on Wednesday. Vetr cut shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $100.00 price target for the company. in a report on Tuesday, September 19th. Longbow Research reissued a “buy” rating and set a $120.00 price target on shares of Western Digital Corporation in a report on Thursday, September 14th. Finally, Summit Redstone reissued a “hold” rating on shares of Western Digital Corporation in a report on Wednesday, September 13th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given 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.

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In related news, insider Mark P. Long sold 1,446 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $87.63, for a total value of $126,712.98. Following the completion of the transaction, the insider now directly owns 86,939 shares of the company’s stock, valued at $7,618,464.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael D. Cordano sold 4,954 shares of the firm’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $94.98, for a total transaction of $470,530.92. Following the completion of the transaction, the chief operating officer now directly owns 66,092 shares of the company’s stock, valued at $6,277,418.16. The disclosure for this sale can be found here. Insiders sold 144,295 shares of company stock valued at $12,689,056 over the last three months. 0.46% of the stock is owned by company 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).

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

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