Family Manage LLC Takes Position in Western Digital Corporation $WDC

Family Manage LLC acquired a new stake in Western Digital Corporation (NASDAQ:WDC) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,099 shares of the data storage provider’s stock, valued at approximately $297,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Rakuten Securities Inc. increased its position in Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 407 shares during the period. Avion Wealth lifted its position in shares of Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 113 shares during the period. Valley Wealth Managers Inc. bought a new position in shares of Western Digital during the first quarter valued at approximately $32,000. Swiss RE Ltd. bought a new position in shares of Western Digital during the fourth quarter valued at approximately $32,000. Finally, BOKF NA increased its holdings in Western Digital by 6,700.0% during the third quarter. BOKF NA now owns 272 shares of the data storage provider’s stock valued at $33,000 after buying an additional 268 shares during the period. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 4,674 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the sale, the insider owned 90,041 shares of the company’s stock, valued at approximately $39,905,270.79. The trade was a 4.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the sale, the chief executive officer directly owned 598,150 shares in the company, valued at approximately $246,342,096. This represents a 3.24% 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 three months, insiders have sold 28,959 shares of company stock worth $12,631,666. 0.18% of the stock is owned by insiders.

Western Digital Price Performance

Shares of WDC stock opened at $497.92 on Tuesday. Western Digital Corporation has a 1-year low of $68.67 and a 1-year high of $799.87. The stock’s fifty day moving average price is $565.69 and its 200 day moving average price is $400.49. The company has a market cap of $171.62 billion, a price-to-earnings ratio of 29.73 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period in the prior year, the company posted $1.36 EPS. The firm’s quarterly revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, equities research analysts anticipate that Western Digital Corporation will post 9.61 earnings per share for the current year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 5th. Western Digital’s dividend payout ratio is currently 3.58%.

Wall Street Analyst Weigh In

WDC has been the subject of a number of recent research reports. UBS Group reissued a “neutral” rating and issued a $560.00 price objective on shares of Western Digital in a research note on Monday, July 13th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $400.00 target price on shares of Western Digital in a research report on Friday, May 1st. Wells Fargo & Company boosted their price target on Western Digital from $575.00 to $730.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Jefferies Financial Group set a $575.00 price objective on Western Digital in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. raised their price objective on Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Western Digital presently has an average rating of “Moderate Buy” and an average price target of $520.32.

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.