Performance Wealth Partners LLC Buys Shares of 20,000 Western Digital Corporation $WDC

Performance Wealth Partners LLC purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 20,000 shares of the data storage provider’s stock, valued at approximately $71,000.

Other large investors have also recently made changes to their positions in the company. Rakuten Securities Inc. lifted its position in Western Digital by 4,070.0% during the second 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 period. Valley Wealth Managers Inc. bought a new stake in Western Digital in the 1st quarter worth approximately $32,000. Swiss RE Ltd. bought a new stake in Western Digital in the 4th quarter worth approximately $32,000. BOKF NA raised its stake 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 last quarter. Finally, JPL Wealth Management LLC purchased a new stake in Western Digital during the 3rd quarter valued at $33,000. 92.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WDC has been the topic of several research analyst reports. Weiss Ratings cut Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. UBS Group reduced their price objective on Western Digital from $560.00 to $525.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Barclays increased their target price on Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Bank of America raised their target price on Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, Citigroup cut their price target on Western Digital from $800.00 to $740.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $534.56.

Western Digital Stock Performance

NASDAQ WDC opened at $536.01 on Tuesday. The company has a market capitalization of $184.75 billion, a PE ratio of 22.14 and a beta of 2.14. The business’s fifty day moving average is $556.51 and its 200 day moving average is $428.76. Western Digital Corporation has a fifty-two week low of $73.14 and a fifty-two week high of $799.87.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.25. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the business posted $1.66 earnings per share. The business’s quarterly revenue was up 43.8% on a year-over-year basis. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. On average, sell-side analysts forecast that Western Digital Corporation will post 19.65 EPS for the current year.

Western Digital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, September 8th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Western Digital’s dividend payout ratio is currently 2.48%.

Insider Activity

In other Western Digital news, Director Bruce E. Kiddoo sold 750 shares of the company’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 value of $396,390.00. Following the completion of the transaction, the director directly owned 3,903 shares in the company, valued at $2,062,813.56. This represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the completion of the sale, the chief executive officer directly owned 575,966 shares of the company’s stock, valued at approximately $256,287,591.02. This trade represents a 3.36% decrease in their ownership of the stock. 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. Insiders have sold a total of 25,093 shares of company stock worth $11,650,737 in the last quarter. 0.18% of the stock is currently owned by insiders.

More Western Digital News

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

• Positive Sentiment: Improving fundamentals supported the move higher. Expanding margins and a forecast-beating outlook gave Western Digital-specific support beyond the broader storage-sector rally. The company recently exceeded quarterly EPS and revenue estimates, while revenue grew sharply year over year. Western Digital Stock Jumps Over 6% as Memory Rally Accelerates
• Positive Sentiment: Analyst earnings estimates are being revised upward. Recent estimate revisions suggest expectations for Western Digital’s earnings are improving, potentially supporting additional near-term share-price momentum. Can Western Digital Run Higher on Rising Earnings Estimates?
• Positive Sentiment: AI-related storage demand and pricing tailwinds remain key catalysts. Western Digital is entering fiscal 2027 with expectations for strong end-market demand, better pricing, cloud growth tied to artificial intelligence, and a recovery in its hard-disk-drive business. Can Strong End Markets and Pricing Tailwinds Keep WDC’s Momentum Alive?
• Positive Sentiment: A broad memory-sector rally lifted sentiment. Elon Musk’s comments about a potential memory bottleneck, along with strong long-term expectations for peer SanDisk, helped boost storage and memory stocks, including WDC. Political developments cited by market coverage also contributed to the positive tone. SanDisk Rallies, Western Digital Rises, and Micron Gains as Elon Musk Flags a Memory Bottleneck
• Neutral Sentiment: Amazon discounted a WD-branded 5TB My Passport portable hard drive. The promotion may support consumer visibility but is unlikely to materially affect Western Digital’s investment outlook. Amazon Clears Out WD 5TB My Passport Portable External Hard Drive
• Negative Sentiment: Wall Street Zen lowered its rating on Western Digital, providing a counterpoint to the more optimistic earnings and industry-demand signals. Western Digital Stock Rating Lowered by Wall Street Zen

Western Digital 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.