Livforsakringsbolaget Skandia Omsesidigt cut its position in Western Digital Corporation (NASDAQ:WDC) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,360 shares of the data storage provider’s stock after selling 4,900 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Western Digital were worth $5,119,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in Western Digital during the 2nd quarter worth approximately $135,000. Sun Life Financial INC lifted its position in Western Digital by 16,215.4% during the 2nd quarter. Sun Life Financial INC now owns 2,121 shares of the data storage provider’s stock worth $188,000 after acquiring an additional 2,108 shares during the period. Adviser Investments LLC acquired a new stake in Western Digital during the 3rd quarter worth approximately $204,000. Rational Advisors LLC acquired a new stake in Western Digital during the 3rd quarter worth approximately $207,000. Finally, Cetera Advisor Networks LLC acquired a new stake in Western Digital during the 3rd quarter worth approximately $211,000. 83.86% of the stock is owned by hedge funds and other institutional investors.

Western Digital Corporation (WDC) opened at $85.16 on Thursday. Western Digital Corporation has a one year low of $71.10 and a one year high of $95.77. The firm has a market capitalization of $24,810.58, a P/E ratio of 17.78, a P/E/G ratio of 0.27 and a beta of 1.12. The company has a quick ratio of 2.13, a current ratio of 2.64 and a debt-to-equity ratio of 1.07.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, October 26th. The data storage provider reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.01 by $0.55. Western Digital had a return on equity of 26.48% and a net margin of 7.38%. The firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period last year, the business posted $1.18 EPS. Western Digital’s quarterly revenue was up 9.9% on a year-over-year basis. equities analysts predict that Western Digital Corporation will post 12.21 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.35%. The ex-dividend date was Thursday, December 28th. Western Digital’s payout ratio is currently 41.75%.

Western Digital declared that its board has authorized a stock repurchase program on Thursday, November 9th that authorizes the company to buyback $2.10 billion in shares. This buyback authorization authorizes the data storage provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

A number of analysts have weighed in on WDC shares. UBS Group reaffirmed an “add” rating on shares of Western Digital in a research report on Wednesday, September 20th. Vetr cut Western Digital from a “strong-buy” rating to a “buy” rating and set a $93.86 price objective for the company. in a research report on Tuesday, October 10th. Mizuho reaffirmed a “buy” rating and set a $105.00 price objective on shares of Western Digital in a research report on Sunday, October 8th. Benchmark reissued a “buy” rating and issued a $135.00 price target on shares of Western Digital in a report on Monday, September 25th. Finally, Barclays reissued a “buy” rating and issued a $131.00 price target on shares of Western Digital in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-three have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $112.10.

In other Western Digital news, CFO Mark P. Long sold 4,467 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $88.13, for a total transaction of $393,676.71. Following the completion of the transaction, the chief financial officer now owns 88,384 shares of the company’s stock, valued at $7,789,281.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael D. Cordano sold 1,397 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $88.13, for a total value of $123,117.61. Following the transaction, the insider now directly owns 70,556 shares of the company’s stock, valued at approximately $6,218,100.28. The disclosure for this sale can be found here. Insiders sold a total of 16,039 shares of company stock valued at $1,400,999 over the last ninety days. 0.31% of the stock is currently owned by company insiders.

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

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