Harwood Advisory Group LLC lifted its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 41.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,843 shares of the data storage provider’s stock after purchasing an additional 3,171 shares during the period. Harwood Advisory Group LLC’s holdings in Western Digital Corporation were worth $937,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WDC. Capital World Investors purchased a new position in shares of Western Digital Corporation during the 2nd quarter worth approximately $1,019,202,000. Vanguard Group Inc. grew its stake in Western Digital Corporation by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 29,942,849 shares of the data storage provider’s stock worth $2,652,936,000 after acquiring an additional 1,201,394 shares during the period. Janus Henderson Group PLC grew its stake in Western Digital Corporation by 140.4% in the 2nd quarter. Janus Henderson Group PLC now owns 1,994,833 shares of the data storage provider’s stock worth $176,746,000 after acquiring an additional 1,164,954 shares during the period. Schroder Investment Management Group grew its stake in Western Digital Corporation by 24,087.4% in the 2nd quarter. Schroder Investment Management Group now owns 902,431 shares of the data storage provider’s stock worth $82,709,000 after acquiring an additional 898,700 shares during the period. Finally, Discovery Capital Management LLC CT grew its stake in Western Digital Corporation by 98.9% in the 2nd quarter. Discovery Capital Management LLC CT now owns 1,576,089 shares of the data storage provider’s stock worth $139,641,000 after acquiring an additional 783,589 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Several research firms have commented on WDC. Vetr cut shares of Western Digital Corporation from a “buy” rating to a “hold” rating and set a $95.09 target price for the company. in a research note on Tuesday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $90.00 target price on shares of Western Digital Corporation in a research note on Friday, August 18th. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of Western Digital Corporation in a research note on Tuesday, August 1st. Wells Fargo & Company began coverage on shares of Western Digital Corporation in a research note on Tuesday, November 14th. They issued an “outperform” rating and a $115.00 target price for the company. Finally, BidaskClub cut shares of Western Digital Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Nine investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and three have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $114.50.

In related news, Director Kathleen A. Cote sold 2,000 shares of Western Digital Corporation stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $90.63, for a total transaction of $181,260.00. Following the transaction, the director now owns 16,421 shares in the company, valued at approximately $1,488,235.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael D. Cordano sold 1,397 shares of Western Digital Corporation stock in a transaction on Monday, November 13th. The shares were sold at an average price of $88.13, for a total transaction of $123,117.61. Following the transaction, the insider now owns 70,556 shares in the company, valued at approximately $6,218,100.28. The disclosure for this sale can be found here. Insiders have sold a total of 25,488 shares of company stock worth $2,242,856 in the last 90 days. Company insiders own 0.31% of the company’s stock.

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Western Digital Corporation (NASDAQ WDC) opened at $92.91 on Friday. The firm has a market cap of $27,481.53, a price-to-earnings ratio of 9.33 and a beta of 1.17. Western Digital Corporation has a 1-year low of $60.30 and a 1-year high of $95.77. The company has a quick ratio of 2.13, a current ratio of 2.64 and a debt-to-equity ratio of 1.07.

Western Digital Corporation (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, October 26th. The data storage provider reported $3.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.01 by $0.55. The company had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.13 billion. Western Digital Corporation had a net margin of 7.38% and a return on equity of 26.48%. Western Digital Corporation’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business earned $1.18 EPS. equities research analysts expect that Western Digital Corporation will post 12.01 earnings per share for the current year.

Western Digital Corporation declared that its Board of Directors has approved a share repurchase program on Thursday, November 9th that permits the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization permits the data storage provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, December 28th. This represents a $2.00 annualized dividend and a dividend yield of 2.15%. Western Digital Corporation’s payout ratio is 41.75%.

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).

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

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