Western Digital (NASDAQ:WDC) Insider Cynthia Tregillis Sells 1,007 Shares

Western Digital Corporation (NASDAQ:WDC) insider Cynthia Tregillis sold 1,007 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $478.36, for a total value of $481,708.52. Following the completion of the sale, the insider directly owned 112,155 shares of the company’s stock, valued at $53,650,465.80. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Western Digital Stock Performance

WDC stock opened at $462.00 on Friday. The stock’s 50 day simple moving average is $532.72 and its 200 day simple moving average is $439.49. The company has a market cap of $159.24 billion, a P/E ratio of 19.08 and a beta of 2.14. Western Digital Corporation has a fifty-two week low of $77.90 and a fifty-two week high of $799.87.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.25. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The company’s revenue for the quarter was up 43.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.66 earnings per share. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Equities analysts predict that Western Digital Corporation will post 19.65 earnings per share for the current 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 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital’s dividend payout ratio (DPR) is currently 2.48%.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Western Digital’s AI- and cloud-storage growth thesis remains intact. Industry momentum from AI infrastructure, cloud computing, the Internet of Things and automotive applications is supporting expectations for continued demand. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
• Positive Sentiment: A recent exchange of approximately $191 million of 3% convertible notes due 2028 is viewed as constructive liability management because it can reduce debt, although issuing shares may create some dilution. What’s Going on With Western Digital Stock on Wednesday?
• Positive Sentiment: Western Digital recently reported revenue growth of 44% year over year to $3.75 billion and earnings of $3.56 per share, exceeding estimates. Its next-quarter earnings guidance of $3.85 to $4.15 per share also supports the bullish fundamental case.
• Positive Sentiment: Technical and analyst indicators remain favorable: a recent hammer chart pattern suggested potential support, while upward earnings-estimate revisions and a bullish Wall Street consensus point to possible longer-term recovery. Western Digital May Find a Bottom Soon

Analyst Ratings Changes

WDC has been the subject of a number of recent research reports. TD Cowen boosted their price target on shares of Western Digital from $500.00 to $540.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Melius Research set a $1,050.00 price objective on shares of Western Digital and gave the company a “buy” rating in a research note on Monday, June 29th. Robert W. Baird set a $630.00 price objective on shares of Western Digital in a report on Thursday, August 6th. Summit Insights downgraded shares of Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 6th. Finally, Mizuho set a $590.00 target price on shares of Western Digital in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $534.56.

Hedge Funds Weigh In On Western Digital

Several large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Western Digital by 7.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after purchasing an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Western Digital by 229.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after purchasing an additional 967 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Western Digital during the second quarter worth about $307,000. Cresset Asset Management LLC bought a new stake in Western Digital in the 2nd quarter worth about $292,000. Finally, Federated Hermes Inc. increased its stake in Western Digital by 55.3% in the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after buying an additional 845 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.

Western Digital Company 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.