Argent Advisors Inc. Invests $241,000 in Western Digital Corporation $WDC

Argent Advisors Inc. acquired a new position in Western Digital Corporation (NASDAQ:WDC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 890 shares of the data storage provider’s stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Rakuten Securities Inc. raised its position in Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 407 shares during the last quarter. Avion Wealth grew its position in shares of Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after buying an additional 113 shares during the last quarter. Swiss RE Ltd. acquired a new stake in shares of Western Digital in the fourth quarter valued at about $32,000. BOKF NA increased its stake in shares of Western Digital by 6,700.0% in the third quarter. BOKF NA now owns 272 shares of the data storage provider’s stock valued at $33,000 after buying an additional 268 shares during the period. Finally, JPL Wealth Management LLC acquired a new stake in shares of Western Digital in the third quarter valued at about $33,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 4,674 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the transaction, the insider directly owned 90,041 shares of the company’s stock, valued at $39,905,270.79. This represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the sale, the chief executive officer owned 598,150 shares of the company’s stock, valued at $246,342,096. The trade was a 3.24% 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. Insiders have sold 29,322 shares of company stock worth $12,768,550 over the last quarter. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WDC shares. Melius Research set a $1,050.00 price objective on Western Digital and gave the stock a “buy” rating in a research note on Monday. Mizuho raised their price target on shares of Western Digital from $550.00 to $685.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Morgan Stanley boosted their price target on shares of Western Digital from $488.00 to $650.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. TD Cowen upped their price objective on shares of Western Digital from $325.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Evercore reiterated an “outperform” rating and set a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $493.52.

Trending Headlines about Western Digital

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: Bank of America raised its price target on Western Digital to $732 from $610 and kept a buy rating, implying meaningful upside from current levels. Benzinga
• Positive Sentiment: Melius Research upgraded Western Digital to strong-buy, reinforcing the bullish analyst view on the stock. Zacks.com
• Positive Sentiment: An analyst fair value estimate was reset higher to $584.79 from $518.26 as models were updated for AI storage demand, HDD pricing, and Western Digital’s product roadmap. Yahoo Finance
• Neutral Sentiment: The stock’s move is also part of a broader memory-sector pullback, with Micron and SanDisk also declining as the Nasdaq weakens. 247WallSt

Western Digital Price Performance

NASDAQ WDC opened at $598.37 on Thursday. The business has a 50 day simple moving average of $533.61 and a 200 day simple moving average of $355.37. Western Digital Corporation has a one year low of $63.01 and a one year high of $799.87. The stock has a market capitalization of $206.25 billion, a P/E ratio of 35.72 and a beta of 2.10.

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, beating the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company’s revenue was up 45.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities analysts expect that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were paid a $0.15 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio (DPR) is presently 3.58%.

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.