Cypress Capital Group lessened its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,347 shares of the data storage provider’s stock after selling 584 shares during the quarter. Cypress Capital Group’s holdings in Western Digital Corporation were worth $1,537,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Capital World Investors acquired a new stake in shares of Western Digital Corporation in the 2nd quarter worth about $1,019,202,000. Vanguard Group Inc. raised its holdings in shares of Western Digital Corporation by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 28,741,455 shares of the data storage provider’s stock worth $2,372,032,000 after acquiring an additional 1,250,528 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Western Digital Corporation by 140.4% in the 2nd quarter. Janus Henderson Group PLC now owns 1,994,833 shares of the data storage provider’s stock worth $176,746,000 after acquiring an additional 1,164,954 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Western Digital Corporation by 24,087.4% in the 2nd quarter. Schroder Investment Management Group now owns 902,431 shares of the data storage provider’s stock worth $82,709,000 after acquiring an additional 898,700 shares during the last quarter. Finally, Discovery Capital Management LLC CT raised its holdings in shares of Western Digital Corporation by 98.9% in the 2nd quarter. Discovery Capital Management LLC CT now owns 1,576,089 shares of the data storage provider’s stock worth $139,641,000 after acquiring an additional 783,589 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

WDC has been the topic of a number of analyst reports. Vetr lowered shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $96.66 target price on the stock. in a report on Tuesday, June 13th. Aegis initiated coverage on shares of Western Digital Corporation in a report on Tuesday, June 13th. They issued a “buy” rating and a $130.00 target price on the stock. Guggenheim restated a “buy” rating and issued a $125.00 target price on shares of Western Digital Corporation in a report on Wednesday, June 14th. Evercore ISI initiated coverage on shares of Western Digital Corporation in a report on Friday, June 16th. They issued an “outperform” rating and a $130.00 target price on the stock. Finally, Maxim Group restated a “buy” rating and issued a $108.00 target price on shares of Western Digital Corporation in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $111.31.

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In other Western Digital Corporation news, CFO Mark P. Long sold 1,517 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $80.97, for a total transaction of $122,831.49. Following the completion of the transaction, the chief financial officer now owns 88,207 shares in the company, valued at $7,142,120.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark P. Long sold 28,585 shares of the stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $94.24, for a total transaction of $2,693,850.40. Following the transaction, the insider now owns 53,551 shares of the company’s stock, valued at approximately $5,046,646.24. The disclosure for this sale can be found here. Insiders have sold 128,246 shares of company stock valued at $11,323,928 in the last quarter. 0.31% of the stock is owned by company insiders.

Western Digital Corporation (NASDAQ WDC) traded up 0.24% during mid-day trading on Wednesday, hitting $86.22. 1,253,031 shares of the stock were exchanged. The stock has a market capitalization of $25.45 billion, a PE ratio of 64.34 and a beta of 1.24. The company has a 50-day moving average of $87.29 and a 200-day moving average of $87.41. Western Digital Corporation has a 52 week low of $52.10 and a 52 week high of $95.77.

Western Digital Corporation (NASDAQ:WDC) last released its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.51 by $0.42. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the business earned $0.79 earnings per share. Western Digital Corporation’s quarterly revenue was up 38.5% compared to the same quarter last year. On average, equities analysts predict that Western Digital Corporation will post $12.38 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 annualized dividend and a yield of 2.33%. Western Digital Corporation’s dividend payout ratio (DPR) is currently 156.25%.

Western Digital Corporation 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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