Kennedy Capital Management Inc. decreased its stake in Western Digital Corporation (NASDAQ:WDC) by 4.2% during the first quarter, Holdings Channel reports. The firm owned 86,371 shares of the data storage provider’s stock after selling 3,747 shares during the period. Kennedy Capital Management Inc.’s holdings in Western Digital Corporation were worth $7,128,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Acrospire Investment Management LLC acquired a new stake in Western Digital Corporation during the first quarter valued at $112,000. Reilly Financial Advisors LLC raised its stake in Western Digital Corporation by 49.8% in the first quarter. Reilly Financial Advisors LLC now owns 1,383 shares of the data storage provider’s stock valued at $114,000 after buying an additional 460 shares during the period. SRS Capital Advisors Inc. raised its stake in Western Digital Corporation by 26.7% in the first quarter. SRS Capital Advisors Inc. now owns 1,453 shares of the data storage provider’s stock valued at $119,000 after buying an additional 306 shares during the period. Nikko Asset Management Americas Inc. acquired a new stake in Western Digital Corporation during the first quarter valued at $124,000. Finally, Ruggie Capital Group acquired a new stake in Western Digital Corporation during the first quarter valued at $127,000. Hedge funds and other institutional investors own 83.10% of the company’s stock.

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

Shares of Western Digital Corporation (NASDAQ:WDC) opened at 93.34 on Monday. The stock’s market cap is $27.18 billion. The firm has a 50-day moving average of $88.90 and a 200-day moving average of $79.46. Western Digital Corporation has a 52-week low of $41.64 and a 52-week high of $95.00. Western Digital Corporation also was the recipient of some unusual options trading activity on Friday. Investors acquired 25,040 call options on the company. This is an increase of approximately 232% compared to the typical daily volume of 7,540 call options.

Western Digital Corporation (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 27th. The data storage provider reported $2.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.85 by $0.22. Western Digital Corporation had a negative net margin of 1.32% and a positive return on equity of 16.01%. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The business’s revenue was up 64.7% on a year-over-year basis. On average, equities analysts expect that Western Digital Corporation will post $8.91 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, June 28th. Western Digital Corporation’s payout ratio is currently -202.02%.

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Several equities research analysts recently weighed in on the stock. Vetr upgraded shares of Western Digital Corporation from a “buy” rating to a “strong-buy” rating and set a $100.46 price objective on the stock in a research note on Monday, June 19th. Stifel Nicolaus restated a “buy” rating and issued a $120.00 target price on shares of Western Digital Corporation in a research report on Wednesday, June 21st. Mizuho restated a “buy” rating and issued a $105.00 target price on shares of Western Digital Corporation in a research report on Wednesday, June 21st. Guggenheim restated a “buy” rating and issued a $125.00 target price on shares of Western Digital Corporation in a research report on Wednesday, June 14th. Finally, Maxim Group restated a “buy” rating and issued a $108.00 target price on shares of Western Digital Corporation in a research report on Wednesday, June 21st. Six research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $99.37.

In other news, insider Michael D. Cordano sold 27,137 shares of the business’s stock in a transaction on Monday, April 10th. The shares were sold at an average price of $85.07, for a total value of $2,308,544.59. Following the sale, the insider now owns 62,878 shares of the company’s stock, valued at $5,349,031.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Mark P. Long sold 57,846 shares of the business’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $87.02, for a total transaction of $5,033,758.92. Following the completion of the sale, the insider now directly owns 114,522 shares in the company, valued at approximately $9,965,704.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 187,826 shares of company stock worth $16,390,713. 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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