ClariVest Asset Management LLC cut its position in shares of Western Digital Corporation (NASDAQ:WDC) by 60.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,547 shares of the data storage provider’s stock after selling 6,891 shares during the period. ClariVest Asset Management LLC’s holdings in Western Digital Corporation were worth $403,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in shares of Western Digital Corporation by 1.0% in the first quarter. Arizona State Retirement System now owns 71,313 shares of the data storage provider’s stock valued at $5,885,000 after buying an additional 700 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Western Digital Corporation by 16.9% in the first quarter. Hillsdale Investment Management Inc. now owns 5,610 shares of the data storage provider’s stock valued at $463,000 after buying an additional 810 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Western Digital Corporation during the first quarter valued at $704,000. Korea Investment CORP boosted its stake in shares of Western Digital Corporation by 14.7% in the second quarter. Korea Investment CORP now owns 595,049 shares of the data storage provider’s stock valued at $52,721,000 after buying an additional 76,459 shares in the last quarter. Finally, Exane Derivatives boosted its stake in shares of Western Digital Corporation by 7,574.0% in the first quarter. Exane Derivatives now owns 35,761 shares of the data storage provider’s stock valued at $2,951,000 after buying an additional 35,295 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

Western Digital Corporation (WDC) opened at 83.20 on Monday. Western Digital Corporation has a 12-month low of $45.25 and a 12-month high of $95.77. The firm has a 50-day moving average price of $87.67 and a 200-day moving average price of $84.55. The company has a market cap of $24.29 billion, a P/E ratio of 62.09 and a beta of 1.22.

Western Digital Corporation (NASDAQ:WDC) last issued its earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.51 by $0.42. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the business earned $0.79 EPS. The business’s revenue for the quarter was up 38.5% compared to the same quarter last year. On average, equities research analysts forecast that Western Digital Corporation will post $12.54 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, September 28th. Western Digital Corporation’s dividend payout ratio is 156.25%.

WARNING: “ClariVest Asset Management LLC Cuts Position in Western Digital Corporation (WDC)” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/08/21/clarivest-asset-management-llc-cuts-position-in-western-digital-corporation-wdc.html.

Several equities research analysts have recently weighed in on WDC shares. Royal Bank Of Canada upped their price target on Western Digital Corporation from $33.00 to $39.00 and gave the company an “outperform” rating in a research report on Thursday, May 11th. Benchmark Co. upped their price target on Western Digital Corporation from $100.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Maxim Group upped their price target on Western Digital Corporation from $104.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Citigroup Inc. upped their price target on Western Digital Corporation from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Finally, Bank of America Corporation upgraded Western Digital Corporation from a “neutral” rating to a “buy” rating in a research report on Friday, April 28th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Western Digital Corporation presently has a consensus rating of “Buy” and a consensus price target of $104.66.

In other Western Digital Corporation news, EVP Michael Charles Ray sold 524 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $92.30, for a total value of $48,365.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark P. Long sold 1,517 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $80.97, for a total value of $122,831.49. Following the completion of the sale, the chief financial officer now owns 88,207 shares of the company’s stock, valued at $7,142,120.79. The disclosure for this sale can be found here. Insiders sold a total of 123,644 shares of company stock valued at $10,946,300 over the last quarter. Company 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).

Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Corporation (NASDAQ:WDC).

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

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