Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys Shares of 2,515 Western Digital Corporation $WDC

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Western Digital Corporation (NASDAQ:WDC) during the 4th quarter, Holdings Channel reports. The firm bought 2,515 shares of the data storage provider’s stock, valued at approximately $433,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Western Digital by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 43,282,393 shares of the data storage provider’s stock valued at $5,196,484,000 after purchasing an additional 243,177 shares during the last quarter. WCM Investment Management LLC acquired a new position in Western Digital in the 3rd quarter valued at about $791,317,000. Northern Trust Corp boosted its holdings in Western Digital by 11.2% in the 3rd quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock valued at $456,884,000 after purchasing an additional 384,103 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Western Digital by 11.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,804,907 shares of the data storage provider’s stock valued at $456,737,000 after purchasing an additional 402,981 shares during the last quarter. Finally, Fred Alger Management LLC boosted its holdings in Western Digital by 4,923.9% in the 3rd quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock valued at $409,049,000 after purchasing an additional 3,339,225 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Vidyadhara K. Gubbi sold 4,674 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $443.19, for a total value of $2,071,470.06. Following the sale, the insider directly owned 90,041 shares in the company, valued at approximately $39,905,270.79. This trade represents a 4.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cynthia L. Tregillis sold 106 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $458.87, for a total transaction of $48,640.22. Following the completion of the sale, the insider owned 118,443 shares in the company, valued at $54,349,939.41. The trade was a 0.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 53,785 shares of company stock worth $18,097,954 in the last ninety days. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

WDC has been the topic of several recent analyst reports. Susquehanna reiterated a “neutral” rating and issued a $285.00 target price on shares of Western Digital in a report on Friday, February 6th. Argus set a $300.00 price objective on shares of Western Digital in a report on Tuesday, February 3rd. Sanford C. Bernstein upgraded shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price objective on the stock in a report on Tuesday, March 31st. The Goldman Sachs Group restated a “neutral” rating and issued a $400.00 price objective on shares of Western Digital in a report on Friday, May 1st. Finally, Bank of America upped their price objective on shares of Western Digital to $495.00 and gave the stock a “buy” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Western Digital presently has a consensus rating of “Moderate Buy” and an average target price of $395.83.

Western Digital Stock Performance

Shares of WDC opened at $484.28 on Friday. The stock has a market capitalization of $166.92 billion, a PE ratio of 28.91 and a beta of 2.10. Western Digital Corporation has a 1 year low of $49.00 and a 1 year high of $525.15. The company’s 50-day simple moving average is $373.02 and its 200-day simple moving average is $268.41.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.33. The business had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business’s quarterly revenue was up 45.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, sell-side analysts predict that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be issued a dividend of $0.15 per share. This is a boost from Western Digital’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Western Digital’s dividend payout ratio (DPR) is currently 3.58%.

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.