Nomura Asset Management Co. Ltd. increased its stake in Western Digital Corporation (NASDAQ:WDC) by 6.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,852 shares of the data storage provider’s stock after purchasing an additional 2,809 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Western Digital were worth $3,789,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Swiss National Bank grew its holdings in Western Digital by 2.1% during the 3rd quarter. Swiss National Bank now owns 1,073,763 shares of the data storage provider’s stock worth $92,773,000 after acquiring an additional 21,900 shares during the period. Buckingham Capital Management Inc. acquired a new stake in Western Digital during the 2nd quarter worth $1,754,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Western Digital by 18.3% during the 2nd 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 acquiring an additional 10,428 shares during the period. Capital Analysts LLC acquired a new stake in Western Digital during the 2nd quarter worth $2,777,000. Finally, Calamos Advisors LLC grew its holdings in Western Digital by 2.7% during the 2nd quarter. Calamos Advisors LLC now owns 45,377 shares of the data storage provider’s stock worth $4,020,000 after acquiring an additional 1,201 shares during the period. Hedge funds and other institutional investors own 83.99% of the company’s stock.

Shares of Western Digital Corporation (NASDAQ:WDC) opened at $81.47 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.13 and a current ratio of 2.64. Western Digital Corporation has a 52-week low of $65.08 and a 52-week high of $95.77. The company has a market cap of $23,174.88, a PE ratio of 7.87 and a beta of 1.10.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, October 26th. The data storage provider reported $3.56 EPS for the quarter, topping the consensus estimate of $3.01 by $0.55. Western Digital had a net margin of 7.38% and a return on equity of 26.48%. The firm had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the previous year, the firm posted $1.18 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. sell-side analysts anticipate that Western Digital Corporation will post 12.01 earnings per share for the current fiscal year.

Western Digital announced that its Board of Directors has approved a stock repurchase program on Thursday, November 9th that allows the company to buyback $2.10 billion in outstanding shares. This buyback authorization allows the data storage provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.00 annualized dividend and a yield of 2.45%. Western Digital’s dividend payout ratio (DPR) is presently 41.75%.

In other Western Digital news, Director Matthew E. Massengill sold 2,677 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $86.53, for a total transaction of $231,640.81. Following the sale, the director now directly owns 17,759 shares of the company’s stock, valued at approximately $1,536,686.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Henry T. Denero sold 4,097 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $85.97, for a total transaction of $352,219.09. Following the sale, the director now directly owns 10,834 shares in the company, valued at $931,398.98. The disclosure for this sale can be found here. Insiders have sold a total of 25,488 shares of company stock worth $2,242,856 over the last three months. Insiders own 0.31% of the company’s stock.

A number of research firms have commented on WDC. Jefferies Group reaffirmed a “hold” rating and set a $90.00 target price on shares of Western Digital in a report on Friday, August 18th. BidaskClub lowered shares of Western Digital from a “hold” rating to a “sell” rating in a report on Thursday. Citigroup set a $110.00 target price on shares of Western Digital and gave the stock a “buy” rating in a report on Monday, August 21st. Robert W. Baird lowered shares of Western Digital from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $120.00 to $93.00 in a report on Monday, October 2nd. Finally, Barclays reaffirmed a “buy” rating and set a $131.00 target price on shares of Western Digital in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $114.50.

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About Western Digital

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 (NASDAQ:WDC)

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