3,227 Shares in Western Digital Corporation $WDC Bought by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,227 shares of the data storage provider’s stock, valued at approximately $2,061,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Western Digital by 7.7% during the 1st 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 buying an additional 3,019 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Western Digital by 229.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after acquiring an additional 967 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Western Digital in the second quarter worth about $307,000. Cresset Asset Management LLC bought a new stake in Western Digital during the second quarter worth approximately $292,000. Finally, Federated Hermes Inc. raised its position in Western Digital by 55.3% during the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after purchasing an additional 845 shares during the period. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $459.44 on Friday. The business’s 50 day moving average price is $552.24 and its 200-day moving average price is $433.31. Western Digital Corporation has a fifty-two week low of $74.57 and a fifty-two week high of $799.87. The company has a market cap of $158.36 billion, a price-to-earnings ratio of 18.98 and a beta of 2.14.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.25. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the company earned $1.66 EPS. Western Digital’s quarterly 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. Sell-side analysts predict that Western Digital Corporation will post 19.65 earnings per share for the current year.

Western Digital Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $400.00 price objective on shares of Western Digital in a research note on Friday, May 1st. Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Wall Street Zen downgraded Western Digital from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Rosenblatt Securities dropped their price objective on shares of Western Digital from $900.00 to $800.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Bank of America boosted their price objective on shares of Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $534.56.

Insider Activity at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the completion of the sale, the chief executive officer owned 575,966 shares in the company, valued at $256,287,591.02. This trade represents a 3.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the sale, the director directly owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,679 shares of company stock valued at $11,451,605 over the last ninety days. 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.