Nomura Asset Management Co. Ltd. grew its position in shares of Western Digital Corp (NASDAQ:WDC) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,092 shares of the data storage provider’s stock after purchasing an additional 2,240 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Western Digital were worth $3,666,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in WDC. Iridian Asset Management LLC CT boosted its holdings in Western Digital by 1.2% during the 4th quarter. Iridian Asset Management LLC CT now owns 5,989,267 shares of the data storage provider’s stock valued at $476,326,000 after acquiring an additional 68,610 shares during the period. Geode Capital Management LLC boosted its holdings in Western Digital by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 3,919,230 shares of the data storage provider’s stock valued at $311,171,000 after acquiring an additional 171,959 shares during the period. Lyrical Asset Management LP boosted its holdings in Western Digital by 3.2% during the 4th quarter. Lyrical Asset Management LP now owns 3,307,454 shares of the data storage provider’s stock valued at $263,042,000 after acquiring an additional 103,165 shares during the period. Bank of New York Mellon Corp boosted its holdings in Western Digital by 22.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,281,695 shares of the data storage provider’s stock valued at $283,538,000 after acquiring an additional 598,563 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Western Digital by 2.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,086,925 shares of the data storage provider’s stock valued at $266,720,000 after acquiring an additional 83,030 shares during the period. Hedge funds and other institutional investors own 84.97% of the company’s stock.
In related news, insider Michael D. Cordano sold 1,401 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $85.00, for a total transaction of $119,085.00. Following the completion of the transaction, the insider now owns 70,560 shares of the company’s stock, valued at approximately $5,997,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael Charles Ray sold 35,009 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $86.73, for a total value of $3,036,330.57. Following the transaction, the executive vice president now directly owns 70,164 shares of the company’s stock, valued at approximately $6,085,323.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 261,105 shares of company stock valued at $23,899,380. 0.31% of the stock is owned by corporate insiders.
Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, January 25th. The data storage provider reported $3.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.51 by $0.44. Western Digital had a return on equity of 30.78% and a net margin of 1.93%. The company had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter last year, the company earned $2.30 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. equities analysts forecast that Western Digital Corp will post 12.66 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, March 29th. Western Digital’s dividend payout ratio (DPR) is presently 30.67%.
WDC has been the subject of several analyst reports. Craig Hallum increased their target price on Western Digital from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, March 5th. Cowen set a $117.00 target price on Western Digital and gave the company an “outperform” rating in a report on Tuesday, January 23rd. Citigroup restated a “buy” rating and set a $115.00 target price on shares of Western Digital in a report on Wednesday, December 13th. BidaskClub upgraded Western Digital from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. Finally, Summit Redstone upgraded Western Digital from a “hold” rating to a “buy” rating in a report on Wednesday, December 13th. Twelve equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $111.62.
Western Digital 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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