BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 38.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 183,188 shares of the data storage provider’s stock after buying an additional 50,451 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Western Digital Corporation were worth $16,230,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Accredited Investors Inc. increased its position in shares of Western Digital Corporation by 0.4% in the second quarter. Accredited Investors Inc. now owns 2,713 shares of the data storage provider’s stock valued at $240,000 after buying an additional 11 shares in the last quarter. Wedbush Securities Inc. increased its position in shares of Western Digital Corporation by 7.6% in the second quarter. Wedbush Securities Inc. now owns 16,602 shares of the data storage provider’s stock valued at $1,471,000 after buying an additional 1,177 shares in the last quarter. Traynor Capital Management Inc. purchased a new position in shares of Western Digital Corporation during the second quarter valued at about $222,000. Rhumbline Advisers increased its position in shares of Western Digital Corporation by 5.7% in the second quarter. Rhumbline Advisers now owns 510,249 shares of the data storage provider’s stock valued at $45,208,000 after buying an additional 27,386 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Western Digital Corporation by 1.3% in the second quarter. Arizona State Retirement System now owns 72,213 shares of the data storage provider’s stock valued at $6,398,000 after buying an additional 900 shares in the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

Western Digital Corporation (NASDAQ WDC) opened at 82.83 on Tuesday. The firm has a market cap of $24.19 billion, a PE ratio of 61.81 and a beta of 1.22. The company’s 50-day moving average is $88.66 and its 200 day moving average is $84.50. Western Digital Corporation has a one year low of $43.60 and a one year high of $95.77.

Western Digital Corporation (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share (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 the consensus estimate of $4.82 billion. During the same quarter last year, the firm posted $0.79 EPS. Western Digital Corporation’s revenue was up 38.5% compared to the same quarter last year. Equities analysts anticipate that Western Digital Corporation will post $12.54 earnings per share 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 given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, September 28th. Western Digital Corporation’s payout ratio is currently 156.25%.

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Several equities analysts recently issued reports on the stock. BidaskClub downgraded shares of Western Digital Corporation from a “hold” rating to a “sell” rating in a report on Saturday. Stifel Nicolaus reissued a “buy” rating and set a $120.00 price target on shares of Western Digital Corporation in a report on Monday, August 7th. Zacks Investment Research raised shares of Western Digital Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. J P Morgan Chase & Co reissued an “overweight” rating on shares of Western Digital Corporation in a report on Tuesday, August 1st. Finally, BMO Capital Markets set a $120.00 target price on shares of Western Digital Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $104.93.

In related news, EVP Manish H. Bhatia sold 7,208 shares of Western Digital Corporation stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $84.99, for a total value of $612,607.92. Following the completion of the sale, the executive vice president now owns 66,922 shares of the company’s stock, valued at approximately $5,687,700.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Srinivasan Sivaram sold 16,049 shares of Western Digital Corporation stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $85.06, for a total transaction of $1,365,127.94. The disclosure for this sale can be found here. In the last three months, insiders sold 122,567 shares of company stock valued at $10,869,788. 0.46% of the stock is currently owned by 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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