Cornerstone Investment Partners LLC decreased its position in shares of Western Digital Corp. (NASDAQ:WDC) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,009,972 shares of the data storage provider’s stock after selling 6,717 shares during the period. Western Digital Corp. accounts for about 2.6% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 22nd largest position. Cornerstone Investment Partners LLC owned about 0.36% of Western Digital Corp. worth $59,053,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. American International Group Inc. boosted its position in shares of Western Digital Corp. by 8,124.5% in the second quarter. American International Group Inc. now owns 9,620,001 shares of the data storage provider’s stock worth $454,641,000 after buying an additional 9,503,034 shares during the period. Vanguard Group Inc. boosted its position in shares of Western Digital Corp. by 24.7% in the second quarter. Vanguard Group Inc. now owns 24,858,936 shares of the data storage provider’s stock worth $1,174,834,000 after buying an additional 4,925,997 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Western Digital Corp. by 103.1% in the second quarter. Neuberger Berman Group LLC now owns 3,393,531 shares of the data storage provider’s stock worth $160,379,000 after buying an additional 1,722,928 shares during the period. DNB Asset Management AS boosted its position in shares of Western Digital Corp. by 168.9% in the second quarter. DNB Asset Management AS now owns 2,357,775 shares of the data storage provider’s stock worth $111,428,000 after buying an additional 1,480,995 shares during the period. Finally, Appaloosa LP acquired a new position in shares of Western Digital Corp. during the second quarter worth $68,527,000. Institutional investors own 86.44% of the company’s stock.

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

Shares of Western Digital Corp. (NASDAQ:WDC) traded up 1.69% during mid-day trading on Monday, hitting $62.63. 3,130,259 shares of the stock were exchanged. The firm’s market cap is $17.88 billion. Western Digital Corp. has a 1-year low of $34.99 and a 1-year high of $64.73. The company’s 50-day moving average is $57.25 and its 200-day moving average is $50.49.

Western Digital Corp. (NASDAQ:WDC) last released its quarterly earnings data on Wednesday, October 26th. The data storage provider reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.13. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.51 billion. Western Digital Corp. had a negative net margin of 2.73% and a positive return on equity of 11.74%. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.56 EPS. Equities research analysts anticipate that Western Digital Corp. will post $6.62 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $2.00 annualized dividend and a dividend yield of 3.25%. Western Digital Corp.’s dividend payout ratio (DPR) is -162.60%.

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A number of brokerages have recently weighed in on WDC. Vetr raised shares of Western Digital Corp. from a “buy” rating to a “strong-buy” rating and set a $73.29 price objective for the company in a research note on Tuesday, November 22nd. Susquehanna reaffirmed a “positive” rating and issued a $88.00 target price (up from $80.00) on shares of Western Digital Corp. in a research note on Thursday, October 27th. Brean Capital set a $97.00 target price on shares of Western Digital Corp. and gave the stock a “buy” rating in a research note on Thursday, October 27th. Benchmark Co. set a $85.00 target price on shares of Western Digital Corp. and gave the stock a “buy” rating in a research note on Thursday, October 27th. Finally, Royal Bank Of Canada lifted their target price on shares of Western Digital Corp. from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Western Digital Corp. has a consensus rating of “Buy” and a consensus price target of $68.03.

In other news, EVP Michael Charles Ray sold 2,719 shares of the stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $58.63, for a total transaction of $159,414.97. Following the transaction, the executive vice president now owns 51,843 shares in the company, valued at approximately $3,039,555.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael D. Cordano sold 7,185 shares of the stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $54.50, for a total transaction of $391,582.50. Following the transaction, the insider now owns 82,988 shares in the company, valued at approximately $4,522,846. The disclosure for this sale can be found here. 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

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