Deutsche Bank AG Takes Position in Western Digital Corporation $WDC

Deutsche Bank AG purchased a new stake in Western Digital Corporation (NASDAQ:WDC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,386,468 shares of the data storage provider’s stock, valued at approximately $885,565,000. Deutsche Bank AG owned 0.40% of Western Digital as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC raised its position in Western Digital by 45.5% during the second quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock worth $51,000 after acquiring an additional 25 shares during the period. Dogwood Wealth Management LLC grew its position in shares of Western Digital by 28.6% in the second quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock valued at $57,000 after purchasing an additional 20 shares during the period. Clearstead Trust LLC acquired a new stake in shares of Western Digital in the second quarter valued at about $59,000. Kelleher Financial Advisors acquired a new stake in shares of Western Digital in the second quarter valued at about $73,000. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Western Digital during the first quarter worth about $32,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

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 Trading Up 5.3%

NASDAQ:WDC opened at $536.01 on Tuesday. The company has a market cap of $184.75 billion, a P/E ratio of 22.14 and a beta of 2.14. Western Digital Corporation has a twelve month low of $73.14 and a twelve month high of $799.87. The company’s 50-day moving average price is $556.51 and its 200-day moving average price is $428.76.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.25. The company 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 was up 43.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.66 EPS. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. On average, analysts expect that Western Digital Corporation will post 19.65 earnings per share for the current year.

Western Digital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be given a $0.15 dividend. The ex-dividend date 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 is 2.48%.

Analyst Ratings Changes

WDC has been the subject of several research analyst reports. Susquehanna upped their price target on shares of Western Digital from $360.00 to $500.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Wells Fargo & Company lifted their price objective on Western Digital from $575.00 to $730.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. UBS Group cut their price objective on Western Digital from $560.00 to $525.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Rosenblatt Securities reduced their target price on Western Digital from $900.00 to $800.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, Wall Street Zen downgraded Western Digital from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Two research 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $534.56.

Insider Buying and Selling

In other Western Digital news, Director Bruce E. Kiddoo sold 750 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the transaction, the director owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. The trade was a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $256,287,591.02. The trade was a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,093 shares of company stock worth $11,650,737 in the last three months. 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.