Amalgamated Bank lifted its stake in Western Digital Corporation (NASDAQ:WDC) by 66.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,092 shares of the data storage provider’s stock after buying an additional 13,218 shares during the period. Amalgamated Bank’s holdings in Western Digital Corporation were worth $2,932,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings 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 worth $5,885,000 after buying an additional 700 shares during the period. Hillsdale Investment Management Inc. increased its holdings 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 worth $463,000 after buying an additional 810 shares during the period. Korea Investment CORP increased its holdings 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 worth $52,721,000 after buying an additional 76,459 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Western Digital Corporation by 18.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 67,329 shares of the data storage provider’s stock worth $5,965,000 after buying an additional 10,428 shares during the period. Finally, L & S Advisors Inc increased its holdings in shares of Western Digital Corporation by 0.6% in the first quarter. L & S Advisors Inc now owns 114,928 shares of the data storage provider’s stock worth $9,485,000 after buying an additional 648 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Shares of Western Digital Corporation (NASDAQ WDC) traded up 3.18% during midday trading on Friday, reaching $88.52. 6,021,180 shares of the company’s stock were exchanged. The firm has a market cap of $25.85 billion, a PE ratio of 66.06 and a beta of 1.21. Western Digital Corporation has a one year low of $52.10 and a one year high of $95.77. The stock’s 50-day moving average is $85.86 and its 200 day moving average is $86.09.

Western Digital Corporation (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.51 by $0.42. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The business’s quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter last year, the company posted $0.79 earnings per share. Analysts anticipate that Western Digital Corporation will post $12.50 EPS for the current year.

The business 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 $0.50 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.26%. Western Digital Corporation’s dividend payout ratio is currently 156.25%.

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Several research analysts have recently commented on the company. Summit Redstone reiterated a “buy” rating on shares of Western Digital Corporation in a report on Saturday, July 22nd. Loop Capital assumed coverage on Western Digital Corporation in a report on Monday, July 24th. They issued a “buy” rating and a $140.00 price objective on the stock. BTIG Research reiterated a “buy” rating and issued a $120.00 price objective on shares of Western Digital Corporation in a report on Friday, July 14th. Mizuho reiterated a “buy” rating and issued a $105.00 price objective on shares of Western Digital Corporation in a report on Monday, July 17th. Finally, Vetr downgraded Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $102.77 price objective on the stock. in a report on Wednesday, July 12th. Eight research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $111.34.

In other Western Digital Corporation news, insider Mark P. Long sold 1,446 shares of the firm’s 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 owns 86,939 shares of the company’s stock, valued at $7,618,464.57. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Srinivasan Sivaram sold 16,049 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $85.06, for a total transaction of $1,365,127.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,891 shares of company stock valued at $11,854,827. Corporate 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).

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

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