Northwestern Mutual Wealth Management Co. acquired a new position in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 42,118 shares of the data storage provider’s stock, valued at approximately $26,901,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in WDC. CFO4Life Group LLC purchased a new position in Western Digital in the 2nd quarter worth approximately $258,000. Quantbot Technologies LP purchased a new position in shares of Western Digital during the 2nd quarter worth $5,388,000. Evolve Private Wealth LLC acquired a new stake in shares of Western Digital during the second quarter valued at about $3,344,000. Varma Mutual Pension Insurance Co acquired a new position in Western Digital during the second quarter worth $35,321,000. Finally, Emerald Investment Advisers LLC purchased a new position in Western Digital during the 2nd quarter valued at about $11,379,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Susquehanna boosted their price target on shares of Western Digital from $360.00 to $500.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Fox Advisors lowered Western Digital from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Morgan Stanley reissued an “overweight” rating and set a $676.00 target price on shares of Western Digital in a research note on Thursday, August 6th. Evercore restated an “outperform” rating and set a $575.00 price target on shares of Western Digital in a report on Tuesday, May 26th. Finally, Rosenblatt Securities reduced their price target on Western Digital from $900.00 to $800.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $534.56.
Western Digital Trading Down 2.0%
Shares of WDC stock opened at $459.44 on Friday. The business’s 50 day moving average is $552.24 and its two-hundred day moving average is $433.31. Western Digital Corporation has a twelve month low of $74.57 and a twelve month high of $799.87. The company has a market capitalization of $158.36 billion, a P/E ratio of 18.98 and a beta of 2.14.
Western Digital (NASDAQ:WDC – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.25. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the company earned $1.66 EPS. The firm’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, equities analysts predict that Western Digital Corporation will post 19.65 earnings per share for the current fiscal year.
Western Digital Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital’s dividend payout ratio (DPR) is presently 2.48%.
Insider Transactions at Western Digital
In other news, insider Cynthia L. Tregillis sold 808 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total value of $427,941.04. Following the sale, the insider directly owned 114,539 shares in the company, valued at $60,663,290.57. This represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were 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 in the company, valued at approximately $47,366,060.96. This trade represents a 2.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 24,679 shares of company stock worth $11,451,605 over the last quarter. Insiders own 0.18% of the company’s stock.
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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