Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Western Digital Corp (NASDAQ:WDC) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,130 shares of the data storage provider’s stock after purchasing an additional 3,910 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Western Digital were worth $1,705,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in WDC. BlackRock Inc. grew its holdings in shares of Western Digital by 22.3% during the 3rd quarter. BlackRock Inc. now owns 25,731,691 shares of the data storage provider’s stock worth $1,506,333,000 after acquiring an additional 4,690,847 shares during the period. Clearbridge Investments LLC grew its holdings 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 acquiring an additional 1,041,135 shares during the period. Oregon Public Employees Retirement Fund grew its holdings 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 acquiring an additional 8,082,941 shares during the period. Neuberger Berman Group LLC grew its holdings 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 acquiring an additional 442,323 shares during the period. Finally, Lyrical Asset Management LP grew its holdings in shares of Western Digital by 7.6% during the 3rd quarter. Lyrical Asset Management LP now owns 3,974,958 shares of the data storage provider’s stock worth $232,694,000 after acquiring an additional 280,704 shares during the period. Institutional investors own 84.18% of the company’s stock.
NASDAQ:WDC opened at $47.19 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.24 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $14.09 billion, a PE ratio of 3.49, a P/E/G ratio of 0.54 and a beta of 1.43. Western Digital Corp has a one year low of $33.83 and a one year high of $106.96.
Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, January 24th. The data storage provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.27 by $0.18. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.26 billion. Western Digital had a return on equity of 28.88% and a net margin of 4.34%. Western Digital’s revenue was down 20.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.95 EPS. Sell-side analysts expect that Western Digital Corp will post 4.7 EPS for the current fiscal 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 $0.50 dividend. The ex-dividend date is Thursday, March 28th. This represents a $2.00 annualized dividend and a dividend yield of 4.24%. Western Digital’s dividend payout ratio (DPR) is 14.80%.
WDC has been the topic of a number of analyst reports. Craig Hallum cut Western Digital from a “buy” rating to a “hold” rating and dropped their price target for the stock from $115.00 to $59.00 in a research report on Friday, October 26th. Benchmark reissued a “hold” rating on shares of Western Digital in a research report on Friday, October 26th. Loop Capital dropped their price target on Western Digital to $80.00 and set an “average” rating on the stock in a research report on Friday, October 26th. BMO Capital Markets reissued a “hold” rating and issued a $60.00 price target on shares of Western Digital in a research report on Thursday, October 25th. Finally, JPMorgan Chase & Co. cut Western Digital from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $117.00 to $62.00 in a research report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $68.22.
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About Western Digital
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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