Nomura Asset Management Co. Ltd. Increases Position in Western Digital Corp (WDC)

Nomura Asset Management Co. Ltd. increased its position in Western Digital Corp (NASDAQ:WDC) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,432 shares of the data storage provider’s stock after purchasing an additional 2,518 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Western Digital were worth $1,902,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in Western Digital by 22.3% in the third quarter. BlackRock Inc. now owns 25,731,691 shares of the data storage provider’s stock worth $1,506,333,000 after purchasing an additional 4,690,847 shares during the period. Clearbridge Investments LLC grew its position in shares of Western Digital by 13.2% during the 3rd quarter. Clearbridge Investments LLC now owns 8,932,221 shares of the data storage provider’s stock worth $522,892,000 after buying an additional 1,041,135 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Western Digital by 6,696.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,203,643 shares of the data storage provider’s stock worth $222,000 after buying an additional 8,082,941 shares during the period. Bank of New York Mellon Corp grew its position in shares of Western Digital by 44.1% during the 4th quarter. Bank of New York Mellon Corp now owns 4,324,733 shares of the data storage provider’s stock worth $159,885,000 after buying an additional 1,324,555 shares during the period. Finally, Neuberger Berman Group LLC grew its position in shares of Western Digital by 12.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,075,231 shares of the data storage provider’s stock worth $238,564,000 after buying an additional 442,323 shares during the period. Hedge funds and other institutional investors own 84.54% of the company’s stock.

In other news, insider Mark P. Long sold 17,623 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $50.00, for a total transaction of $881,150.00. Following the sale, the insider now owns 158,744 shares in the company, valued at approximately $7,937,200. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.36% of the company’s stock.

WDC has been the subject of several analyst reports. Cowen restated a “market perform” rating and set a $44.00 target price (up from $38.00) on shares of Western Digital in a research report on Friday, January 25th. Morgan Stanley decreased their target price on Western Digital from $53.00 to $50.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 19th. Wells Fargo & Co restated a “buy” rating and set a $65.00 target price (down from $75.00) on shares of Western Digital in a research report on Wednesday, January 16th. BidaskClub lowered Western Digital from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 8th. Finally, Evercore ISI lowered Western Digital from an “in-line” rating to an “underperform” rating and set a $30.00 target price for the company. in a research report on Monday, January 14th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $67.79.

NASDAQ WDC opened at $47.58 on Friday. The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of 3.52, a PEG ratio of 0.55 and a beta of 1.49. The company has a current ratio of 2.24, a quick ratio of 1.45 and a debt-to-equity ratio of 0.95. Western Digital Corp has a 52 week low of $33.83 and a 52 week high of $106.96.

Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, January 24th. The data storage provider reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.18. The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Western Digital had a return on equity of 28.88% and a net margin of 4.34%. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.95 EPS. As a group, equities analysts expect that Western Digital Corp will post 4.7 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Thursday, March 28th. Western Digital’s dividend payout ratio is currently 14.80%.

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Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.

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

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