Meeder Asset Management Inc. acquired a new stake in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 15,197 shares of the data storage provider’s stock, valued at approximately $9,707,000.
A number of other institutional investors also recently modified their holdings of WDC. Dunhill Financial LLC bought a new position in shares of Western Digital in the 2nd quarter worth $29,000. Ares Financial Consulting LLC increased its stake in Western Digital by 45.5% during the 2nd quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock valued at $51,000 after purchasing an additional 25 shares in the last quarter. Dogwood Wealth Management LLC increased its stake in Western Digital by 28.6% during the 2nd quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock valued at $57,000 after purchasing an additional 20 shares in the last quarter. Clearstead Trust LLC acquired a new position in Western Digital during the second quarter worth $59,000. Finally, Kelleher Financial Advisors acquired a new position in Western Digital during the second quarter worth $73,000. 92.51% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Western Digital news, Director Bruce E. Kiddoo sold 750 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the transaction, the director owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. The trade was a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cynthia L. Tregillis sold 808 shares of the company’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $529.63, for a total value of $427,941.04. Following the completion of the transaction, the insider owned 114,539 shares of the company’s stock, valued at $60,663,290.57. This trade represents a 0.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,093 shares of company stock worth $11,650,737 in the last ninety days. Company insiders own 0.18% of the company’s stock.
Western Digital Price Performance
Western Digital (NASDAQ:WDC – Get Free Report) last posted its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.25. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.70 billion. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The business’s revenue was up 43.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 EPS. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. As a group, equities analysts anticipate that Western Digital Corporation will post 19.65 EPS for the current year.
Western Digital Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Western Digital’s dividend payout ratio (DPR) is currently 2.48%.
Key Stories Impacting Western Digital
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Improving fundamentals supported the move higher. Expanding margins and a forecast-beating outlook gave Western Digital-specific support beyond the broader storage-sector rally. The company recently exceeded quarterly EPS and revenue estimates, while revenue grew sharply year over year. Western Digital Stock Jumps Over 6% as Memory Rally Accelerates
- Positive Sentiment: Analyst earnings estimates are being revised upward. Recent estimate revisions suggest expectations for Western Digital’s earnings are improving, potentially supporting additional near-term share-price momentum. Can Western Digital Run Higher on Rising Earnings Estimates?
- Positive Sentiment: AI-related storage demand and pricing tailwinds remain key catalysts. Western Digital is entering fiscal 2027 with expectations for strong end-market demand, better pricing, cloud growth tied to artificial intelligence, and a recovery in its hard-disk-drive business. Can Strong End Markets and Pricing Tailwinds Keep WDC’s Momentum Alive?
- Positive Sentiment: A broad memory-sector rally lifted sentiment. Elon Musk’s comments about a potential memory bottleneck, along with strong long-term expectations for peer SanDisk, helped boost storage and memory stocks, including WDC. Political developments cited by market coverage also contributed to the positive tone. SanDisk Rallies, Western Digital Rises, and Micron Gains as Elon Musk Flags a Memory Bottleneck
- Neutral Sentiment: Amazon discounted a WD-branded 5TB My Passport portable hard drive. The promotion may support consumer visibility but is unlikely to materially affect Western Digital’s investment outlook. Amazon Clears Out WD 5TB My Passport Portable External Hard Drive
- Negative Sentiment: Wall Street Zen lowered its rating on Western Digital, providing a counterpoint to the more optimistic earnings and industry-demand signals. Western Digital Stock Rating Lowered by Wall Street Zen
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. Melius Research set a $1,050.00 price objective on shares of Western Digital and gave the company a “buy” rating in a report on Monday, June 29th. Weiss Ratings lowered shares of Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Evercore reaffirmed an “outperform” rating and issued a $575.00 price target on shares of Western Digital in a research report on Tuesday, May 26th. Susquehanna lifted their price target on Western Digital from $360.00 to $500.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Finally, Mizuho set a $590.00 price target on Western Digital in a research note on Thursday, August 6th. Two equities research 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $534.56.
Check Out Our Latest Stock Analysis on Western Digital
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.
Featured Articles
- Five stocks we like better than Western Digital
- Commodities Are Booming, But These 3 ETFs Tell Different Stories
- 3 Active ETFs Making Big Moves in August
- This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem
- Birkenstock Beats the Skeptics—But Not on EPS
Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Corporation (NASDAQ:WDC – Free Report).
Receive News & Ratings for Western Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital and related companies with MarketBeat.com's FREE daily email newsletter.
