MidFirst Bank bought a new stake in Western Digital Corporation (NASDAQ:WDC – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,416 shares of the data storage provider’s stock, valued at approximately $244,000.
Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Western Digital in the 4th quarter valued at about $788,729,000. Northern Trust Corp increased its position in shares of Western Digital by 11.2% during the third quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock worth $456,884,000 after acquiring an additional 384,103 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Western Digital by 11.8% during the third quarter. Dimensional Fund Advisors LP now owns 3,804,907 shares of the data storage provider’s stock worth $456,737,000 after acquiring an additional 402,981 shares during the last quarter. Fred Alger Management LLC lifted its stake in shares of Western Digital by 4,923.9% in the third quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock worth $409,049,000 after acquiring an additional 3,339,225 shares in the last quarter. Finally, Soroban Capital Partners LP lifted its stake in shares of Western Digital by 1,926.3% in the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after acquiring an additional 2,910,062 shares in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Western Digital news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the transaction, the chief executive officer directly owned 598,150 shares of the company’s stock, valued at $246,342,096. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the completion of the transaction, the insider owned 85,154 shares of the company’s stock, valued at approximately $47,366,060.96. This trade represents a 2.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,322 shares of company stock worth $12,768,550 in the last 90 days. 0.18% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Get Our Latest Research Report on Western Digital
More Western Digital News
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Western Digital is benefiting from surging demand tied to AI data centers and cloud storage, which is boosting investor confidence in the company’s earnings outlook. Western Digital stock surges on AI demand; Morgan Stanley bullish on WDC
- Positive Sentiment: Morgan Stanley raised its view on WDC, reinforcing the idea that the stock still has room to run after the recent rally. Morgan Stanley Raises Price Target on Western Digital (WDC). Here is Why
- Positive Sentiment: The company’s earnings were said to nearly double on strong AI and cloud demand, which supports the recent move up in the shares. Western Digital Earnings Nearly Double on AI, Cloud Demand
- Positive Sentiment: Apple’s comments about unavoidable memory price hikes helped lift the broader memory/storage group, including WDC, by improving the pricing backdrop for the industry. SanDisk Jumps 11%, Western Digital Rises 7% After Apple Flags “Unavoidable” Memory Price Hikes
Western Digital Price Performance
NASDAQ:WDC opened at $746.23 on Monday. Western Digital Corporation has a 12-month low of $58.66 and a 12-month high of $799.87. The firm has a market capitalization of $257.21 billion, a P/E ratio of 44.55 and a beta of 2.13. The business has a 50 day simple moving average of $487.12 and a 200 day simple moving average of $328.32.
Western Digital (NASDAQ:WDC – Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping 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 firm’s revenue for the quarter was up 45.5% on a year-over-year basis. During the same period last year, the company earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Research analysts anticipate that Western Digital Corporation will post 9.6 EPS for the current fiscal year.
Western Digital Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were given a dividend of $0.15 per share. This is an increase from Western Digital’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Friday, June 5th. Western Digital’s payout ratio is currently 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.
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