SMART Wealth LLC Purchases 1,403 Shares of Western Digital Corporation $WDC

SMART Wealth LLC grew its position in shares of Western Digital Corporation (NASDAQ:WDC) by 20.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,197 shares of the data storage provider’s stock after buying an additional 1,403 shares during the period. Western Digital makes up 1.1% of SMART Wealth LLC’s holdings, making the stock its 19th biggest position. SMART Wealth LLC’s holdings in Western Digital were worth $5,235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rakuten Securities Inc. raised its holdings in Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 407 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Western Digital in the 2nd quarter valued at approximately $28,000. Dunhill Financial LLC bought a new stake in shares of Western Digital during the 2nd quarter worth approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Western Digital during the 2nd quarter worth approximately $31,000. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Western Digital during the 1st quarter worth approximately $32,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on WDC. Jefferies Financial Group set a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Susquehanna raised their target price on Western Digital from $360.00 to $500.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Citigroup decreased their price target on Western Digital from $800.00 to $740.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Mizuho set a $590.00 price objective on Western Digital in a research report on Thursday, August 6th. Finally, Bank of America raised their price objective on Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Two investment 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $534.56.

Insider Transactions at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 575,966 shares of the company’s stock, valued at approximately $256,287,591.02. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the insider directly owned 112,155 shares in the company, valued at $53,650,465.80. This represents a 0.89% 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 quarter, insiders have sold 23,210 shares of company stock valued at $10,440,960. Company insiders own 0.18% of the company’s stock.

Western Digital Price Performance

Shares of WDC stock opened at $441.57 on Friday. Western Digital Corporation has a one year low of $85.92 and a one year high of $799.87. The business’s 50 day simple moving average is $508.41 and its 200 day simple moving average is $445.56. The stock has a market capitalization of $152.20 billion, a PE ratio of 18.24, a PEG ratio of 1.90 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share for the quarter, topping 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 company had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the company posted $1.66 earnings per share. Western Digital’s revenue for the quarter 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. As a group, 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 declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital’s dividend payout ratio (DPR) is presently 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.