Evolve Private Wealth LLC Makes New $3.34 Million Investment in Western Digital Corporation $WDC

Evolve Private Wealth LLC acquired a new position in Western Digital Corporation (NASDAQ:WDC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,235 shares of the data storage provider’s stock, valued at approximately $3,344,000.

Several other large investors have also added to or reduced their stakes in the business. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Western Digital during the 2nd quarter worth about $28,000. Dunhill Financial LLC bought a new stake in Western Digital during the second quarter worth about $29,000. Gables Capital Management Inc. bought a new stake in Western Digital during the second quarter worth about $32,000. Ares Financial Consulting LLC raised its holdings 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 in the last quarter. Finally, Dogwood Wealth Management LLC boosted its position in Western Digital by 28.6% during 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 last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the sale, the chief executive officer owned 575,966 shares of the company’s stock, valued at $256,287,591.02. This represents a 3.36% decrease in their ownership of the stock. 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, insider Cynthia L. Tregillis sold 808 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total value of $427,941.04. Following the completion of the transaction, the insider owned 114,539 shares in the company, valued at $60,663,290.57. The trade was a 0.70% decrease in their position. 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 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.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WDC. TD Cowen increased their price objective on Western Digital from $500.00 to $540.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Citigroup lowered their target price on shares of Western Digital from $800.00 to $740.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Jefferies Financial Group set a $575.00 price target on shares of Western Digital in a research report on Tuesday, May 26th. Wall Street Zen cut shares of Western Digital from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Finally, Barclays lifted their price objective on shares of Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $534.56.

Western Digital Stock Down 2.0%

Shares of NASDAQ:WDC opened at $459.44 on Friday. Western Digital Corporation has a 12-month low of $74.57 and a 12-month high of $799.87. The business has a 50 day moving average of $552.24 and a 200-day moving average of $433.31. The stock has a market cap of $158.36 billion, a PE ratio of 18.98 and a beta of 2.14.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results 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. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the company posted $1.66 EPS. The firm’s quarterly revenue was up 43.8% on a year-over-year basis. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Equities research analysts expect that Western Digital Corporation will post 19.65 earnings per share for the current year.

Western Digital Dividend Announcement

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

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.