California Public Employees Retirement System boosted its holdings in Western Digital Corp (NASDAQ:WDC) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 684,148 shares of the data storage provider’s stock after acquiring an additional 25,827 shares during the quarter. California Public Employees Retirement System’s holdings in Western Digital were worth $54,410,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in WDC. Cookson Peirce & Co. Inc. boosted its holdings in shares of Western Digital by 0.6% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 3,600 shares of the data storage provider’s stock worth $319,000 after purchasing an additional 20 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Western Digital by 17.6% in the 3rd quarter. Bessemer Group Inc. now owns 4,386 shares of the data storage provider’s stock worth $379,000 after purchasing an additional 655 shares in the last quarter. Profit Investment Management LLC boosted its holdings in shares of Western Digital by 17.4% in the 3rd quarter. Profit Investment Management LLC now owns 4,417 shares of the data storage provider’s stock worth $382,000 after purchasing an additional 656 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Western Digital by 2.1% in the 3rd quarter. Amalgamated Bank now owns 33,781 shares of the data storage provider’s stock worth $2,919,000 after purchasing an additional 689 shares in the last quarter. Finally, Spectrum Management Group Inc. boosted its holdings in shares of Western Digital by 3.1% in the 3rd quarter. Spectrum Management Group Inc. now owns 22,702 shares of the data storage provider’s stock worth $1,961,000 after purchasing an additional 690 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

In other Western Digital news, EVP Michael Charles Ray sold 4,387 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $84.20, for a total transaction of $369,385.40. Following the completion of the transaction, the executive vice president now owns 43,323 shares of the company’s stock, valued at approximately $3,647,796.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen D. Milligan sold 90,755 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $88.12, for a total value of $7,997,330.60. The disclosure for this sale can be found here. Insiders have sold a total of 152,529 shares of company stock valued at $13,285,093 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

WDC has been the subject of a number of research reports. BidaskClub upgraded Western Digital from a “hold” rating to a “buy” rating in a report on Tuesday, October 17th. Vetr cut Western Digital from a “strong-buy” rating to a “buy” rating and set a $98.49 price objective for the company. in a report on Monday, October 23rd. Zacks Investment Research upgraded Western Digital from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. KeyCorp reiterated a “hold” rating on shares of Western Digital in a report on Friday, October 27th. Finally, Citigroup upped their price objective on Western Digital from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Thirteen analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. Western Digital presently has an average rating of “Buy” and an average target price of $111.78.

Western Digital Corp (NASDAQ WDC) opened at $82.97 on Wednesday. The company has a market capitalization of $24,690.00, a P/E ratio of 68.57, a price-to-earnings-growth ratio of 0.34 and a beta of 1.13. The company has a current ratio of 2.55, a quick ratio of 2.03 and a debt-to-equity ratio of 1.04. Western Digital Corp has a 52-week low of $71.38 and a 52-week high of $95.77.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, January 25th. The data storage provider reported $3.95 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.44. The business had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.31 billion. Western Digital had a return on equity of 30.78% and a net margin of 1.93%. Western Digital’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.30 EPS. equities research analysts forecast that Western Digital Corp will post 12.62 earnings per share for the current fiscal year.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, March 29th. Western Digital’s payout ratio is 165.29%.

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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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