Nomura Asset Management Co. Ltd. Has $6.11 Million Stake in Western Digital Co. (NASDAQ:WDC)

Nomura Asset Management Co. Ltd. increased its stake in shares of Western Digital Co. (NASDAQ:WDC) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,479 shares of the data storage provider’s stock after buying an additional 1,069 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Western Digital were worth $6,111,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in WDC. Norges Bank acquired a new stake in shares of Western Digital during the 4th quarter worth approximately $352,572,000. AMF Tjanstepension AB bought a new position in shares of Western Digital in the fourth quarter worth about $94,181,000. Vanguard Group Inc. boosted its stake in shares of Western Digital by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 42,459,767 shares of the data storage provider’s stock valued at $2,531,876,000 after purchasing an additional 1,439,149 shares in the last quarter. Sachem Head Capital Management LP grew its holdings in shares of Western Digital by 75.2% during the 3rd quarter. Sachem Head Capital Management LP now owns 2,030,000 shares of the data storage provider’s stock valued at $138,629,000 after purchasing an additional 871,500 shares during the last quarter. Finally, Holocene Advisors LP increased its position in Western Digital by 25.7% during the 3rd quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock worth $218,034,000 after purchasing an additional 651,847 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the sale, the senior vice president now owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Western Digital Trading Down 0.5 %

NASDAQ WDC opened at $40.43 on Tuesday. The stock has a market capitalization of $14.06 billion, a P/E ratio of 9.63 and a beta of 1.42. The business has a 50 day simple moving average of $55.20 and a 200 day simple moving average of $62.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. Western Digital Co. has a one year low of $39.10 and a one year high of $81.55.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Research analysts expect that Western Digital Co. will post 4.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WDC. Rosenblatt Securities decreased their target price on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Robert W. Baird reduced their price objective on Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley dropped their target price on Western Digital from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Susquehanna reduced their price target on Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Finally, UBS Group dropped their price objective on shares of Western Digital from $74.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.21.

Western Digital Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.