Granite Investment Partners LLC bought a new stake in Western Digital Corporation (NASDAQ:WDC) during the second quarter, Holdings Channel reports. The fund bought 32,966 shares of the data storage provider’s stock, valued at approximately $2,921,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Iridian Asset Management LLC CT boosted its position in shares of Western Digital Corporation by 244.0% in the first quarter. Iridian Asset Management LLC CT now owns 5,541,511 shares of the data storage provider’s stock valued at $457,341,000 after buying an additional 3,930,465 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Western Digital Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 28,741,455 shares of the data storage provider’s stock valued at $2,372,032,000 after buying an additional 1,250,528 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Western Digital Corporation by 179.3% in the first quarter. Alliancebernstein L.P. now owns 1,619,954 shares of the data storage provider’s stock valued at $133,695,000 after buying an additional 1,040,028 shares during the last quarter. Villere ST Denis J & Co. LLC purchased a new position in shares of Western Digital Corporation during the first quarter valued at approximately $84,484,000. Finally, UBS Asset Management Americas Inc. boosted its position 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. Institutional investors own 82.39% of the company’s stock.

Shares of Western Digital Corporation (WDC) opened at 79.90 on Friday. The firm has a market cap of $23.33 billion, a P/E ratio of 59.63 and a beta of 1.22. The firm’s 50-day moving average is $88.96 and its 200-day moving average is $84.38. Western Digital Corporation has a 1-year low of $44.43 and a 1-year high of $95.77.

Western Digital Corporation (NASDAQ:WDC) last posted its quarterly earnings data 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. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 EPS. On average, analysts anticipate that Western Digital Corporation will post $12.58 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, September 28th. Western Digital Corporation’s payout ratio is 156.25%.

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Several analysts recently commented on WDC shares. Vetr upgraded shares of Western Digital Corporation from a “buy” rating to a “strong-buy” rating and set a $94.27 price target for the company in a report on Monday, April 17th. Zacks Investment Research upgraded shares of Western Digital Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Friday, April 21st. Royal Bank Of Canada raised their price target on shares of Western Digital Corporation from $33.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, May 11th. Benchmark Co. raised their price target on shares of Western Digital Corporation from $100.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, Maxim Group raised their price target on shares of Western Digital Corporation from $104.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. Western Digital Corporation presently has an average rating of “Buy” and an average target price of $104.93.

In other news, insider Mark P. Long sold 3,034 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $89.54, for a total transaction of $271,664.36. Following the sale, the insider now directly owns 71,342 shares of the company’s stock, valued at approximately $6,387,962.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mark P. Long sold 17,028 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $93.84, for a total value of $1,597,907.52. Following the sale, the chief financial officer now directly owns 53,551 shares in the company, valued at $5,025,225.84. The disclosure for this sale can be found here. Insiders have sold a total of 126,966 shares of company stock worth $11,263,675 in the last quarter. Company insiders own 0.46% of the company’s stock.

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).

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

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