Cynthia Tregillis Sells 808 Shares of Western Digital (NASDAQ:WDC) Stock

Western Digital Corporation (NASDAQ:WDC) insider Cynthia Tregillis sold 808 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total transaction of $427,941.04. Following the sale, the insider directly owned 114,539 shares in the company, valued at $60,663,290.57. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Western Digital Stock Performance

NASDAQ:WDC opened at $462.04 on Thursday. The stock’s 50-day simple moving average is $565.89 and its 200 day simple moving average is $404.28. The company has a market cap of $159.26 billion, a P/E ratio of 27.58 and a beta of 2.11. Western Digital Corporation has a 52-week low of $69.30 and a 52-week high of $799.87.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business’s quarterly revenue was up 45.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 earnings per share. As a group, equities analysts predict that Western Digital Corporation will post 9.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WDC. The Goldman Sachs Group reissued a “neutral” rating and issued a $400.00 target price on shares of Western Digital in a research note on Friday, May 1st. Evercore reissued an “outperform” rating and issued a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Rosenblatt Securities boosted their price objective on shares of Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Melius Research set a $1,050.00 target price on shares of Western Digital and gave the company a “buy” rating in a report on Monday, June 29th. Finally, Susquehanna raised their target price on shares of Western Digital from $360.00 to $500.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and an average target price of $520.32.

Hedge Funds Weigh In On Western Digital

Several institutional investors and hedge funds have recently modified their holdings of WDC. Rakuten Securities Inc. boosted its holdings in shares of Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after buying an additional 407 shares during the period. Avion Wealth lifted its position in Western Digital by 163.8% during the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 113 shares during the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of Western Digital in the first quarter valued at approximately $32,000. Swiss RE Ltd. bought a new position in shares of Western Digital during the fourth quarter worth approximately $32,000. Finally, BOKF NA lifted 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 worth $33,000 after purchasing an additional 268 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital News Summary

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: Strong demand for high-capacity hard drives from cloud providers and data centers, driven by rapidly increasing AI-generated data, is supporting Western Digital’s growth outlook. Tighter global supply could also improve pricing and margins. Why Is Western Digital Stock Surging on Wednesday?
• Positive Sentiment: Seagate’s strong results provided a read-through for Western Digital, reinforcing expectations that demand for enterprise storage remains healthy. Analysts, including Wedbush and Citigroup, have also maintained bullish views and elevated price targets. Seagate, SK Hynix, Ford, Vertiv, and More Stocks That Explain Today’s Market
• Neutral Sentiment: Wall Street expects earnings growth in Western Digital’s next report. Investors will focus on whether AI-related storage demand, supply tightness and pricing power can support results and forward guidance after the stock’s sharp rally. Western Digital Reports Next Week
• Neutral Sentiment: Western Digital previously exceeded quarterly estimates, reporting $2.72 in earnings per share versus a $2.39 consensus and revenue of $3.34 billion, up 45.5% year over year. That performance raises expectations for the upcoming report.
• Negative Sentiment: The broader AI memory trade has suffered a severe sell-off, with investors reducing exposure to high-growth chip and storage names. Western Digital has retreated substantially from its June high, increasing concerns that its valuation may have outpaced near-term fundamentals. The Memory Crash Has 4 Big Stocks Down 30% or More
• Negative Sentiment: Advances in Chinese AI technology and a strong listing by China’s ChangXin Memory Technologies are fueling concerns about future competition and whether current supply constraints will persist. Stocks Extend Slide Amid China’s AI Challenge
• Negative Sentiment: Insider Cynthia Tregillis sold 808 shares for approximately $428,000 under a pre-arranged Rule 10b5-1 plan. The sale reduced her position by only 0.7% and is therefore a limited bearish signal.

Western Digital Company Profile

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.