MML Investors Services LLC raised its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 29.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,990 shares of the data storage provider’s stock after acquiring an additional 7,268 shares during the quarter. MML Investors Services LLC’s holdings in Western Digital Corporation were worth $2,834,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Accredited Investors Inc. grew its stake 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. Honkamp Krueger Financial Services Inc. grew its stake in shares of Western Digital Corporation by 0.5% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 4,571 shares of the data storage provider’s stock valued at $405,000 after buying an additional 25 shares in the last quarter. Barry Investment Advisors LLC grew its stake in shares of Western Digital Corporation by 0.4% in the second quarter. Barry Investment Advisors LLC now owns 6,331 shares of the data storage provider’s stock valued at $561,000 after buying an additional 26 shares in the last quarter. Cleararc Capital Inc. grew its stake in shares of Western Digital Corporation by 1.3% in the first quarter. Cleararc Capital Inc. now owns 7,045 shares of the data storage provider’s stock valued at $581,000 after buying an additional 92 shares in the last quarter. Finally, Stoneridge Investment Partners LLC grew its stake in shares of Western Digital Corporation by 0.3% in the second quarter. Stoneridge Investment Partners LLC now owns 31,161 shares of the data storage provider’s stock valued at $2,761,000 after buying an additional 106 shares in the last quarter. 82.42% of the stock is owned by institutional investors.

Western Digital Corporation (NASDAQ WDC) traded up 0.57% during mid-day trading on Friday, hitting $85.98. The stock had a trading volume of 515,220 shares. Western Digital Corporation has a 52 week low of $52.10 and a 52 week high of $95.77. The company’s 50 day moving average price is $86.12 and its 200 day moving average price is $86.39. The firm has a market cap of $25.35 billion, a PE ratio of 64.16 and a beta of 1.21.

Western Digital Corporation (NASDAQ:WDC) last announced its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.51 by $0.42. The company 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%. Western Digital Corporation’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period last year, the firm posted $0.79 EPS. Analysts anticipate that Western Digital Corporation will post $12.50 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.32%. Western Digital Corporation’s dividend payout ratio is 156.25%.

In related news, CFO Mark P. Long sold 17,028 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $93.84, for a total transaction of $1,597,907.52. Following the transaction, the chief financial officer now directly owns 53,551 shares in the company, valued at approximately $5,025,225.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark P. Long sold 28,585 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $94.24, for a total value of $2,693,850.40. Following the transaction, the insider now owns 53,551 shares in the company, valued at $5,046,646.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,295 shares of company stock worth $12,689,056. 0.46% of the stock is currently owned by insiders.

Several equities analysts recently weighed in on the stock. Maxim Group reissued a “buy” rating and issued a $108.00 target price on shares of Western Digital Corporation in a research note on Wednesday, June 21st. UBS AG reissued a “neutral” rating and issued a $92.00 target price (up from $90.00) on shares of Western Digital Corporation in a research note on Wednesday, June 28th. Cowen and Company reissued an “outperform” rating and issued a $117.00 target price on shares of Western Digital Corporation in a research note on Thursday. Guggenheim reissued a “buy” rating and issued a $125.00 target price on shares of Western Digital Corporation in a research note on Wednesday, June 14th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Western Digital Corporation in a research report on Monday, June 12th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $111.34.

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Western Digital Corporation 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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