Family Manage LLC Takes $297,000 Position in Western Digital Corporation $WDC

Family Manage LLC purchased a new stake in Western Digital Corporation (NASDAQ:WDC) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,099 shares of the data storage provider’s stock, valued at approximately $297,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WDC. Rakuten Securities Inc. lifted its stake in shares of Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 407 shares during the last quarter. Avion Wealth boosted its holdings in shares of Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 113 shares during the period. Swiss RE Ltd. bought a new position in shares of Western Digital during the 4th quarter valued at approximately $32,000. Valley Wealth Managers Inc. bought a new position in shares of Western Digital during the 1st quarter valued at approximately $32,000. Finally, BOKF NA raised its holdings in Western Digital by 6,700.0% during the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider’s stock valued at $33,000 after buying an additional 268 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on WDC shares. Susquehanna raised their price target on Western Digital from $360.00 to $500.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Melius Research set a $1,050.00 price objective on shares of Western Digital and gave the company a “buy” rating in a research report on Monday, June 29th. Zacks Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Barclays raised their target price on shares of Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Finally, Robert W. Baird lifted their price target on shares of Western Digital from $310.00 to $450.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and a consensus target price of $520.32.

Insider Activity at Western Digital

In other news, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total transaction of $396,390.00. Following the transaction, the director directly owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cynthia L. Tregillis sold 432 shares of Western Digital stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the sale, the insider directly owned 116,643 shares of the company’s stock, valued at $63,640,420.80. This represents a 0.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 28,959 shares of company stock worth $12,631,666. Corporate insiders own 0.18% of the company’s stock.

Western Digital Stock Down 4.2%

Shares of Western Digital stock opened at $497.92 on Tuesday. The stock’s fifty day moving average is $565.69 and its two-hundred day moving average is $400.49. The company has a market capitalization of $171.62 billion, a PE ratio of 29.73 and a beta of 2.11. Western Digital Corporation has a 52 week low of $68.67 and a 52 week high of $799.87.

Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.33. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business’s revenue for the quarter was up 45.5% compared to the same quarter last year. During the same period last year, the company earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, research analysts anticipate that Western Digital Corporation will post 9.61 earnings per share for the current year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Friday, June 5th. This is a positive change from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio (DPR) is 3.58%.

About Western Digital

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.