IMS Capital Management decreased its position in Western Digital Corporation (NASDAQ:WDC) by 51.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,088 shares of the data storage provider’s stock after selling 7,383 shares during the period. IMS Capital Management’s holdings in Western Digital Corporation were worth $628,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WDC. Candriam Luxembourg S.C.A. raised its position in shares of Western Digital Corporation by 38.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 19,549 shares of the data storage provider’s stock worth $1,613,000 after buying an additional 5,398 shares in the last quarter. James Investment Research Inc. raised its position in shares of Western Digital Corporation by 29.5% in the first quarter. James Investment Research Inc. now owns 15,053 shares of the data storage provider’s stock worth $1,243,000 after buying an additional 3,433 shares in the last quarter. Diversified Trust Co raised its position in shares of Western Digital Corporation by 167.8% in the first quarter. Diversified Trust Co now owns 39,285 shares of the data storage provider’s stock worth $3,242,000 after buying an additional 24,615 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Western Digital Corporation by 2.9% in the first quarter. Retirement Systems of Alabama now owns 139,248 shares of the data storage provider’s stock worth $11,492,000 after buying an additional 3,942 shares in the last quarter. Finally, Hermes Investment Management Ltd. raised its position in shares of Western Digital Corporation by 3.8% in the first quarter. Hermes Investment Management Ltd. now owns 556,860 shares of the data storage provider’s stock worth $45,958,000 after buying an additional 20,325 shares in the last quarter. 81.91% of the stock is owned by institutional investors.

Shares of Western Digital Corporation (WDC) opened at 83.82 on Wednesday. The company’s 50 day moving average price is $88.40 and its 200-day moving average price is $84.53. The firm has a market capitalization of $24.48 billion, a PE ratio of 62.55 and a beta of 1.22. Western Digital Corporation has a 52 week low of $43.60 and a 52 week high of $95.77.

Western Digital Corporation (NASDAQ:WDC) last announced its earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.51 by $0.42. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates 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 company earned $0.79 EPS. On average, equities research analysts expect that Western Digital Corporation will post $12.54 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.39%. Western Digital Corporation’s payout ratio is currently 156.25%.

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A number of brokerages have recently commented on WDC. Cowen and Company increased their price objective on Western Digital Corporation from $90.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, April 28th. BidaskClub lowered Western Digital Corporation from a “hold” rating to a “sell” rating in a report on Saturday. Susquehanna Bancshares Inc reissued a “positive” rating and set a $140.00 price objective on shares of Western Digital Corporation in a report on Wednesday, May 17th. Jefferies Group LLC reissued a “hold” rating and set a $90.00 price objective on shares of Western Digital Corporation in a report on Wednesday, June 28th. Finally, Bank of America Corporation raised Western Digital Corporation from a “neutral” rating to a “buy” rating in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $104.93.

In other news, insider Michael D. Cordano sold 11,322 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $85.00, for a total value of $962,370.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jacqueline Demaria sold 14,358 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $84.53, for a total value of $1,213,681.74. Following the completion of the sale, the executive vice president now owns 75,772 shares of the company’s stock, valued at $6,405,007.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,567 shares of company stock valued at $10,869,788. Company insiders own 0.46% of the company’s stock.

Western Digital Corporation Company 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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