12,300 Shares in Western Digital Corporation $WDC Bought by Resolute Advisors LLC

Resolute Advisors LLC purchased a new position in Western Digital Corporation (NASDAQ:WDC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,300 shares of the data storage provider’s stock, valued at approximately $7,856,000. Western Digital accounts for approximately 1.9% of Resolute Advisors LLC’s investment portfolio, making the stock its 9th biggest position.

A number of other institutional investors have also added to or reduced their stakes in WDC. Norges Bank acquired a new stake in Western Digital in the fourth quarter valued at approximately $788,729,000. Northern Trust Corp raised its position in shares of Western Digital by 11.2% during the third quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock worth $456,884,000 after purchasing an additional 384,103 shares during the period. Soroban Capital Partners LP raised its position in shares of Western Digital by 1,926.3% during the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after purchasing an additional 2,910,062 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Western Digital by 70.4% in the 4th quarter. AQR Capital Management LLC now owns 2,972,703 shares of the data storage provider’s stock worth $512,107,000 after purchasing an additional 1,228,661 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Western Digital by 6.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,809,409 shares of the data storage provider’s stock valued at $483,977,000 after purchasing an additional 159,167 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WDC has been the subject of a number of recent research reports. Melius Research set a $1,050.00 price target on shares of Western Digital and gave the company a “buy” rating in a research note on Monday, June 29th. Summit Insights lowered shares of Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 6th. Barclays lifted their price objective on shares of Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Fox Advisors downgraded shares of Western Digital from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Finally, Citigroup lowered their target price on shares of Western Digital from $800.00 to $740.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $534.56.

Western Digital Trading Down 0.0%

Shares of NASDAQ:WDC opened at $450.44 on Wednesday. The stock’s fifty day simple moving average is $516.94 and its two-hundred day simple moving average is $443.28. Western Digital Corporation has a 1-year low of $77.90 and a 1-year high of $799.87. The stock has a market cap of $155.26 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.91 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last posted its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.25. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.70 billion. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The business’s revenue was up 43.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 EPS. 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 earnings per share for the current fiscal year.

Western Digital Announces Dividend

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

Insider Activity

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total value of $8,899,400.00. Following the completion of the sale, the chief executive officer owned 575,966 shares in the company, valued at approximately $256,287,591.02. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 1,007 shares of Western Digital stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $478.36, for a total transaction of $481,708.52. Following the transaction, the insider directly owned 112,155 shares in the company, valued at approximately $53,650,465.80. This represents a 0.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 23,642 shares of company stock valued at $10,676,659. Company insiders own 0.18% of the company’s stock.

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.