Csenge Advisory Group Acquires Shares of 1,983 Western Digital Corporation $WDC

Csenge Advisory Group bought a new position in shares of Western Digital Corporation (NASDAQ:WDC) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,983 shares of the data storage provider’s stock, valued at approximately $1,267,000.

A number of other large investors have also modified their holdings of WDC. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Western Digital in the second quarter worth about $28,000. Dunhill Financial LLC purchased a new stake in Western Digital during the 2nd quarter valued at about $29,000. Gables Capital Management Inc. purchased a new stake in Western Digital during the 2nd quarter valued at about $32,000. Ares Financial Consulting LLC raised its holdings in Western Digital by 45.5% in the 2nd quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock valued at $51,000 after acquiring an additional 25 shares during the last quarter. Finally, Dogwood Wealth Management LLC raised its holdings in Western Digital by 28.6% in the 2nd quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock valued at $57,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Trading Down 6.9%

Shares of WDC opened at $462.09 on Thursday. The company’s 50-day moving average price is $555.52 and its 200 day moving average price is $431.58. Western Digital Corporation has a 12-month low of $73.14 and a 12-month high of $799.87. The firm has a market cap of $159.27 billion, a P/E ratio of 19.09 and a beta of 2.14.

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

Western Digital Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have weighed in on WDC shares. Wall Street Zen lowered shares of Western Digital from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Zacks Research raised Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Summit Insights downgraded Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 6th. TD Cowen boosted their price objective on Western Digital from $500.00 to $540.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald boosted their price objective on Western Digital from $660.00 to $900.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Western Digital presently has an average rating of “Moderate Buy” and an average price target of $534.56.

Western Digital News Roundup

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

• Positive Sentiment: Western Digital is benefiting from a shortage of storage products and continued AI-related demand, supporting an optimistic long-term growth outlook. Is Western Digital Stock an Undervalued AI Stock to Buy?
• Positive Sentiment: Momentum-focused analysis continues to identify WDC as an attractive pick, reflecting strong recent performance and favorable investor sentiment toward AI-driven storage demand. Why Western Digital Is a Great Momentum Choice
• Neutral Sentiment: Jim Cramer said it may not be too late to invest in memory and storage stocks, but he also highlighted the sector’s historical boom-and-bust cycles, underscoring the risk of sharp swings in demand and pricing. Jim Cramer Discusses WDC and Other Memory Stocks
• Negative Sentiment: A broader technology selloff pressured WDC and other memory stocks as investors reduced exposure to AI hardware following a Wall Street Journal report about undisclosed AI-related spending commitments. WSJ Report Sends Memory Stocks Lower
• Negative Sentiment: Rising Treasury yields are weighing on high-growth semiconductor and storage shares by increasing discount rates and making richly valued AI trades less attractive, even without a deterioration in memory fundamentals. Higher Rates Test the Memory Boom
• Negative Sentiment: One recent analysis argues that WDC could be substantially overvalued after its strong rally, while uncertainty over whether Apple can source high-bandwidth memory from Chinese suppliers is creating additional volatility around potential demand shifts. Western Digital Could Be Overvalued on Apple China Memory Push

Insider Activity at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 808 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total transaction of $427,941.04. Following the transaction, the insider directly owned 114,539 shares in the company, valued at $60,663,290.57. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total value of $8,899,400.00. Following the transaction, the chief executive officer owned 575,966 shares of the company’s stock, valued at approximately $256,287,591.02. This represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 24,987 shares of company stock worth $11,602,097 over the last quarter. Company 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.