Twin Capital Management Inc. bought a new position in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) during the 1st quarter, Holdings Channel reports. The fund bought 5,922 shares of the data storage provider’s stock, valued at approximately $1,602,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. boosted its stake in shares of Western Digital by 9.2% during the 1st quarter. GHP Investment Advisors Inc. now owns 357 shares of the data storage provider’s stock worth $97,000 after acquiring an additional 30 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of Western Digital by 0.8% in the 4th quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider’s stock worth $811,000 after acquiring an additional 37 shares during the period. Astoria Portfolio Advisors LLC. increased its stake in Western Digital by 1.1% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 3,782 shares of the data storage provider’s stock valued at $1,023,000 after purchasing an additional 40 shares in the last quarter. Quadcap Wealth Management LLC increased its stake in Western Digital by 2.1% in the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock valued at $346,000 after purchasing an additional 41 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC raised its holdings in Western Digital by 2.6% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider’s stock worth $341,000 after purchasing an additional 51 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.
More Western Digital News
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Some analysts remain constructive on Western Digital, with one report suggesting the stock could still have meaningful upside from current levels thanks to improving memory pricing and AI-driven demand. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here
- Positive Sentiment: Several market commentary pieces argue that Western Digital and other memory stocks may look attractive after the recent sell-off because of lower valuations, better supply-demand trends, and ongoing AI-related storage demand. Why You Must Buy These 4 Memory Stocks After the Recent Sell-Off
- Neutral Sentiment: Western Digital’s upcoming earnings preview is drawing attention, but no new company-specific results were reported in these articles. Western Digital’s Quarterly Earnings Preview: What You Need to Know
- Negative Sentiment: Shares are being hit by broad profit-taking across memory stocks after a sharp rally this year, with traders locking in gains in Western Digital, Micron, SanDisk, and peers. SK Hynix Drops 5%, SanDisk Slides 6%, Western Digital Slips 4% as Traders Take Profits in Memory Stocks
- Negative Sentiment: Western Digital also fell after CXMT’s reported $10 billion IPO plans raised fears of a stronger new competitor entering the memory market, adding to concerns about future pricing and margins. Western Digital Stock Tumbles as CXMT Targets $10 Billion Shanghai IPO
- Negative Sentiment: Another market wrap noted that Western Digital was down sharply as the broader chip selloff weighed on the memory sector. Western Digital (WDC) Stock Dips While Market Gains: Key Facts
Analyst Ratings Changes
Check Out Our Latest Research Report on WDC
Insider Buying and Selling
In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider directly owned 85,154 shares of the company’s stock, valued at approximately $47,366,060.96. The trade was a 2.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $411.84, for a total value of $8,236,800.00. Following the transaction, the chief executive officer directly owned 598,150 shares in the company, valued at $246,342,096. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 29,322 shares of company stock valued at $12,768,550. Corporate insiders own 0.18% of the company’s stock.
Western Digital Trading Down 8.8%
NASDAQ:WDC opened at $513.84 on Thursday. The firm’s fifty day simple moving average is $560.89 and its 200 day simple moving average is $381.93. Western Digital Corporation has a twelve month low of $65.79 and a twelve month high of $799.87. The firm has a market capitalization of $177.11 billion, a price-to-earnings ratio of 30.68 and a beta of 2.11.
Western Digital (NASDAQ:WDC – Get Free Report) last announced 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. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the firm earned $1.36 EPS. The firm’s quarterly revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, analysts predict that Western Digital Corporation will post 9.6 earnings per share for the current year.
Western Digital Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 5th. Western Digital’s payout ratio is 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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