Herndon Capital Management LLC reduced its position in Western Digital Corp. (NASDAQ:WDC) by 36.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,388,760 shares of the data storage provider’s stock after selling 782,022 shares during the period. Western Digital Corp. makes up about 2.5% of Herndon Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Herndon Capital Management LLC owned 0.53% of Western Digital Corp. worth $65,629,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. raised its position in shares of Western Digital Corp. by 84.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,180 shares of the data storage provider’s stock worth $103,000 after buying an additional 1,000 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of Western Digital Corp. by 5.1% in the second quarter. Checchi Capital Advisers LLC now owns 2,197 shares of the data storage provider’s stock worth $104,000 after buying an additional 107 shares in the last quarter. Cornerstone Advisors Inc. raised its position in shares of Western Digital Corp. by 5.7% in the second quarter. Cornerstone Advisors Inc. now owns 2,245 shares of the data storage provider’s stock worth $106,000 after buying an additional 121 shares in the last quarter. Americafirst Capital Management LLC bought a new position in shares of Western Digital Corp. during the second quarter worth $108,000. Finally, Sumitomo Life Insurance Co. bought a new position in shares of Western Digital Corp. during the second quarter worth $116,000. Institutional investors and hedge funds own 86.80% of the company’s stock.

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

Western Digital Corp. (NASDAQ:WDC) traded up 1.52% during midday trading on Tuesday, reaching $53.99. 3,110,278 shares of the company were exchanged. Western Digital Corp. has a 52-week low of $34.99 and a 52-week high of $80.00. The company has a 50 day moving average of $54.34 and a 200-day moving average of $47.54. The company has a market capitalization of $15.35 billion, a price-to-earnings ratio of 53.99 and a beta of 1.27.

Western Digital Corp. (NASDAQ:WDC) last announced its earnings results on Thursday, July 28th. The data storage provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.71 by $0.08. The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.44 billion. Western Digital Corp. had a return on equity of 12.42% and a net margin of 1.98%. The company’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $1.51 EPS. On average, equities research analysts anticipate that Western Digital Corp. will post $4.60 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Friday, September 30th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $2.00 annualized dividend and a dividend yield of 3.70%. Western Digital Corp.’s payout ratio is currently 158.73%.

WDC has been the topic of a number of recent research reports. Longbow Research raised shares of Western Digital Corp. from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Tuesday, September 13th. Susquehanna reaffirmed a “buy” rating and set a $80.00 price target on shares of Western Digital Corp. in a research note on Friday, October 7th. Vetr downgraded shares of Western Digital Corp. from a “strong-buy” rating to a “buy” rating and set a $51.50 price target on the stock. in a research note on Monday, August 29th. Mizuho decreased their price target on shares of Western Digital Corp. from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, August 25th. Finally, Maxim Group upped their price target on shares of Western Digital Corp. from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, October 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. Western Digital Corp. currently has a consensus rating of “Buy” and a consensus price target of $64.89.

In other Western Digital Corp. news, EVP Michael Charles Ray sold 2,719 shares of Western Digital Corp. stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $58.63, for a total transaction of $159,414.97. Following the sale, the executive vice president now directly owns 51,843 shares in the company, valued at approximately $3,039,555.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael D. Cordano sold 7,185 shares of Western Digital Corp. stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $54.50, for a total value of $391,582.50. Following the sale, the insider now owns 82,988 shares in the company, valued at $4,522,846. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Western Digital Corp. Company Profile

Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage solutions that enable consumers, businesses, governments and other organizations to create, manage, experience and preserve digital content. The Company’s product portfolio includes hard disk drives (HDDs), solid-state drives, direct attached storage solutions, personal cloud network attached storage solutions, and public and private cloud data center storage solutions.

5 Day Chart for NASDAQ:WDC

Receive News & Stock Ratings for Western Digital Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital Corp. and related stocks with our FREE daily email newsletter.