195,864 Shares in Western Digital Corporation $WDC Purchased by Ieq Capital LLC

Ieq Capital LLC acquired a new position in shares of Western Digital Corporation (NASDAQ:WDC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 195,864 shares of the data storage provider’s stock, valued at approximately $125,102,000. Western Digital accounts for approximately 0.6% of Ieq Capital LLC’s portfolio, making the stock its 23rd biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of WDC. Rakuten Securities Inc. lifted its position in shares of Western Digital by 4,070.0% in the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 407 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Western Digital during the second quarter valued at approximately $28,000. Dunhill Financial LLC purchased a new position in Western Digital during the second quarter valued at approximately $29,000. Valley Wealth Managers Inc. acquired a new position in Western Digital in the 1st quarter valued at approximately $32,000. Finally, Gables Capital Management Inc. acquired a new position in Western Digital in the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Stock Down 2.0%

Shares of WDC stock opened at $459.44 on Friday. Western Digital Corporation has a 12 month low of $74.57 and a 12 month high of $799.87. The business’s 50 day moving average is $552.24 and its two-hundred day moving average is $433.31. The company has a market cap of $158.36 billion, a PE ratio of 18.98 and a beta of 2.14.

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

Western Digital Announces Dividend

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 is Tuesday, September 8th. Western Digital’s dividend payout ratio (DPR) is 2.48%.

Analysts Set New Price Targets

WDC has been the subject of a number of research analyst reports. Bank of America increased their target price on shares of Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Cantor Fitzgerald upped their price target on shares of Western Digital from $660.00 to $900.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. JPMorgan Chase & Co. increased their price objective on Western Digital from $530.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Robert W. Baird set a $630.00 price objective on Western Digital in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded Western Digital from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $534.56.

Insider Activity

In other news, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of Western Digital stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $556.24, for a total value of $1,376,694.00. Following the completion of the transaction, the insider owned 85,154 shares in the company, valued at $47,366,060.96. The trade was a 2.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,679 shares of company stock worth $11,451,605 in the last 90 days. Insiders own 0.18% of the company’s stock.

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.