New Mexico Educational Retirement Board reduced its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 7.2% during the second quarter, Holdings Channel reports. The firm owned 27,114 shares of the data storage provider’s stock after selling 2,100 shares during the period. New Mexico Educational Retirement Board’s holdings in Western Digital Corporation were worth $2,308,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Highbridge Capital Management LLC boosted its position in Western Digital Corporation by 230.3% in the fourth quarter. Highbridge Capital Management LLC now owns 4,561 shares of the data storage provider’s stock valued at $310,000 after buying an additional 8,061 shares during the last quarter. CENTRAL TRUST Co boosted its position in Western Digital Corporation by 1,399.1% in the first quarter. CENTRAL TRUST Co now owns 3,463 shares of the data storage provider’s stock valued at $285,000 after buying an additional 3,232 shares during the last quarter. Manning & Napier Advisors LLC boosted its position in Western Digital Corporation by 3.8% in the first quarter. Manning & Napier Advisors LLC now owns 11,050 shares of the data storage provider’s stock valued at $911,000 after buying an additional 408 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in Western Digital Corporation by 5.9% in the first quarter. Gulf International Bank UK Ltd now owns 90,141 shares of the data storage provider’s stock valued at $7,439,000 after buying an additional 5,000 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. boosted its position in Western Digital Corporation by 3.0% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 4,546 shares of the data storage provider’s stock valued at $375,000 after buying an additional 132 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Shares of Western Digital Corporation (WDC) opened at 79.19 on Friday. Western Digital Corporation has a 1-year low of $43.60 and a 1-year high of $95.77. The company has a 50 day moving average price of $89.25 and a 200 day moving average price of $84.32. The stock has a market cap of $23.12 billion, a P/E ratio of 59.10 and a beta of 1.22.

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 for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the firm posted $0.79 earnings per share. The company’s revenue was up 38.5% on a year-over-year basis. On average, equities analysts anticipate that Western Digital Corporation will post $12.56 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, September 28th. Western Digital Corporation’s dividend payout ratio is presently 156.25%.

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Several research firms recently commented on WDC. Cowen and Company boosted their target price on Western Digital Corporation from $90.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Susquehanna Bancshares Inc restated a “positive” rating and set a $140.00 target price on shares of Western Digital Corporation in a research report on Wednesday, May 17th. Jefferies Group LLC restated a “hold” rating and set a $90.00 target price on shares of Western Digital Corporation in a research report on Wednesday, June 28th. Bank of America Corporation upgraded Western Digital Corporation from a “neutral” rating to a “buy” rating in a research report on Friday, April 28th. Finally, Vetr upgraded Western Digital Corporation from a “buy” rating to a “strong-buy” rating and set a $101.80 target price for the company in a research report on Monday, June 12th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $104.93.

In related news, EVP Srinivasan Sivaram sold 16,049 shares of Western Digital Corporation stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Charles Ray sold 524 shares of Western Digital Corporation stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $92.30, for a total transaction of $48,365.20. The disclosure for this sale can be found here. Insiders have sold 126,966 shares of company stock valued at $11,263,675 in the last ninety days. 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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