State Board of Administration of Florida Retirement System increased its holdings in Western Digital Corporation (NASDAQ:WDC) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 421,162 shares of the data storage provider’s stock after buying an additional 3,240 shares during the period. State Board of Administration of Florida Retirement System owned about 0.14% of Western Digital Corporation worth $36,388,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in Western Digital Corporation in the 2nd quarter valued at about $135,000. Huntington National Bank lifted its holdings in Western Digital Corporation by 7.7% in the 2nd quarter. Huntington National Bank now owns 1,965 shares of the data storage provider’s stock valued at $174,000 after purchasing an additional 141 shares in the last quarter. Sun Life Financial INC lifted its holdings in Western Digital Corporation by 16,215.4% in the 2nd quarter. Sun Life Financial INC now owns 2,121 shares of the data storage provider’s stock valued at $188,000 after purchasing an additional 2,108 shares in the last quarter. Grove Bank & Trust lifted its holdings in Western Digital Corporation by 33.3% in the 2nd quarter. Grove Bank & Trust now owns 2,199 shares of the data storage provider’s stock valued at $195,000 after purchasing an additional 549 shares in the last quarter. Finally, Seven Bridges Advisors LLC lifted its holdings in Western Digital Corporation by 71.0% in the 2nd quarter. Seven Bridges Advisors LLC now owns 2,243 shares of the data storage provider’s stock valued at $199,000 after purchasing an additional 931 shares in the last quarter. Institutional investors and hedge funds own 82.72% of the company’s stock.

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In related news, Director Kathleen A. Cote sold 2,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $90.63, for a total value of $181,260.00. Following the transaction, the director now owns 16,421 shares of the company’s stock, valued at $1,488,235.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark P. Long sold 1,446 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $87.63, for a total value of $126,712.98. Following the completion of the transaction, the insider now directly owns 86,939 shares in the company, valued at approximately $7,618,464.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,879 shares of company stock worth $3,976,090. Insiders own 0.31% of the company’s stock.

A number of research analysts have issued reports on WDC shares. UBS AG restated an “add” rating on shares of Western Digital Corporation in a report on Wednesday, September 20th. Vetr lowered shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $102.77 target price on the stock. in a report on Wednesday, July 12th. Stifel Nicolaus reiterated a “buy” rating and set a $120.00 price objective on shares of Western Digital Corporation in a report on Tuesday, July 11th. BTIG Research set a $120.00 price objective on shares of Western Digital Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Maxim Group reiterated a “buy” rating and set a $108.00 price objective on shares of Western Digital Corporation in a report on Friday, July 28th. Nine equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and three have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $113.95.

Shares of Western Digital Corporation (NASDAQ:WDC) traded down $1.59 on Friday, reaching $87.01. The company had a trading volume of 2,875,198 shares, compared to its average volume of 3,661,819. The company has a market capitalization of $25,683.44, a PE ratio of 8.74 and a beta of 1.17. Western Digital Corporation has a 52-week low of $54.26 and a 52-week high of $95.77. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.64 and a quick ratio of 2.13.

Western Digital Corporation (NASDAQ:WDC) last released its quarterly earnings results on Thursday, October 26th. The data storage provider reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.55. The firm had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Western Digital Corporation had a net margin of 7.38% and a return on equity of 26.48%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.18 earnings per share. sell-side analysts predict that Western Digital Corporation will post 11.93 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.00 annualized dividend and a dividend yield of 2.30%. Western Digital Corporation’s payout ratio is currently 41.75%.

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).

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

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