Nykredit A S Makes New $157.12 Million Investment in Western Digital Corporation $WDC

Nykredit A S bought a new position in Western Digital Corporation (NASDAQ:WDC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 245,995 shares of the data storage provider’s stock, valued at approximately $157,122,000.

Other institutional investors have also recently made changes to their positions in the company. Dogwood Wealth Management LLC grew its stake 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 worth $57,000 after acquiring an additional 20 shares during the period. Legacy Wealth Asset Management LLC lifted its position in Western Digital by 1.0% during the second quarter. Legacy Wealth Asset Management LLC now owns 2,302 shares of the data storage provider’s stock valued at $1,470,000 after purchasing an additional 22 shares during the period. Everpar Advisors LLC boosted its holdings in Western Digital by 1.8% in the second quarter. Everpar Advisors LLC now owns 1,442 shares of the data storage provider’s stock worth $921,000 after purchasing an additional 25 shares during the last quarter. Ares Financial Consulting LLC boosted its holdings in Western Digital by 45.5% in the second quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock worth $51,000 after purchasing an additional 25 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its position in Western Digital by 2.1% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 1,390 shares of the data storage provider’s stock worth $888,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WDC shares. Susquehanna boosted their target price on shares of Western Digital from $360.00 to $500.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Robert W. Baird set a $630.00 price objective on Western Digital in a report on Thursday, August 6th. Bank of America upped their price objective on Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Jefferies Financial Group set a $575.00 target price on Western Digital in a report on Tuesday, May 26th. Finally, Wall Street Zen cut Western Digital from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $534.56.

Insider Buying and Selling

In related news, insider Cynthia L. Tregillis sold 1,007 shares of Western Digital stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $478.36, for a total value of $481,708.52. Following the completion of the transaction, the insider owned 112,155 shares in the company, valued at approximately $53,650,465.80. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total value of $8,899,400.00. Following the sale, the chief executive officer directly owned 575,966 shares in the company, valued at $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. Over the last three months, insiders have sold 23,642 shares of company stock valued at $10,676,659. 0.18% of the stock is owned by corporate insiders.

Western Digital Price Performance

WDC opened at $448.90 on Thursday. The company has a 50 day simple moving average of $513.08 and a two-hundred day simple moving average of $444.44. The firm has a market cap of $154.73 billion, a P/E ratio of 18.54, a PEG ratio of 1.91 and a beta of 2.13. Western Digital Corporation has a 1-year low of $83.34 and a 1-year 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 the consensus estimate of $3.31 by $0.25. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period last year, the firm earned $1.66 EPS. The company’s 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 analysts anticipate that Western Digital Corporation will post 19.65 earnings per share for the current year.

Western Digital Dividend Announcement

The company 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 $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Western Digital’s payout ratio is 2.48%.

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.