Nisa Investment Advisors LLC Sells 10,936 Shares of Western Digital Corp (WDC)

Nisa Investment Advisors LLC cut its position in Western Digital Corp (NASDAQ:WDC) by 7.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,244 shares of the data storage provider’s stock after selling 10,936 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Western Digital were worth $6,404,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alpha Omega Wealth Management LLC boosted its stake in Western Digital by 4,440.0% in the 4th quarter. Alpha Omega Wealth Management LLC now owns 681 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 666 shares during the period. Ropes Wealth Advisors LLC raised its holdings in Western Digital by 706.0% in the 4th quarter. Ropes Wealth Advisors LLC now owns 806 shares of the data storage provider’s stock valued at $30,000 after acquiring an additional 706 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Western Digital by 57.0% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 650 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 236 shares in the last quarter. Semmax Financial Advisors Inc. acquired a new position in Western Digital in the 4th quarter valued at $38,000. Finally, Avestar Capital LLC raised its holdings in Western Digital by 13.9% in the 4th quarter. Avestar Capital LLC now owns 1,993 shares of the data storage provider’s stock valued at $48,000 after acquiring an additional 243 shares in the last quarter. Institutional investors and hedge funds own 85.40% of the company’s stock.

In other Western Digital news, insider Mark P. Long sold 17,623 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $50.00, for a total value of $881,150.00. Following the sale, the insider now owns 158,744 shares in the company, valued at approximately $7,937,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.36% of the company’s stock.

Several equities analysts have weighed in on WDC shares. Zacks Investment Research raised Western Digital from a “strong sell” rating to a “hold” rating in a report on Monday, December 31st. Evercore ISI cut Western Digital from an “in-line” rating to an “underperform” rating and set a $30.00 price objective for the company. in a report on Monday, January 14th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $65.00 price objective (down from $75.00) on shares of Western Digital in a report on Wednesday, January 16th. Royal Bank of Canada dropped their price objective on Western Digital to $40.00 and set a “sector perform” rating for the company in a report on Friday, January 18th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Western Digital in a report on Friday, January 25th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $64.79.

Western Digital stock opened at $55.39 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. Western Digital Corp has a 52 week low of $33.83 and a 52 week high of $91.55. The firm has a market cap of $16.11 billion, a PE ratio of 4.10, a price-to-earnings-growth ratio of 0.59 and a beta of 1.48.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, January 24th. The data storage provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.18. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm earned $3.95 EPS. As a group, research analysts forecast that Western Digital Corp will post 4.64 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 3.61%. Western Digital’s dividend payout ratio is currently 14.80%.

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Western Digital Profile

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

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