Tocqueville Asset Management L.P. acquired a new position in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 2,585 shares of the data storage provider’s stock, valued at approximately $1,651,000.
Other hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Western Digital by 7.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after acquiring an additional 3,019 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Western Digital by 229.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after acquiring an additional 967 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Western Digital during the second quarter worth approximately $307,000. Cresset Asset Management LLC purchased a new stake in shares of Western Digital during the second quarter worth approximately $292,000. Finally, Federated Hermes Inc. raised its stake in Western Digital by 55.3% in the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after purchasing an additional 845 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.
Insider Activity
In other news, insider Vidyadhara K. Gubbi sold 2,475 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the completion of the sale, the insider owned 85,154 shares of the company’s stock, valued at $47,366,060.96. This represents a 2.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the completion of the sale, the chief executive officer directly owned 575,966 shares of the company’s stock, valued at approximately $256,287,591.02. This trade represents a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 24,679 shares of company stock valued at $11,451,605 in the last ninety days. 0.18% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Read Our Latest Analysis on Western Digital
Western Digital Stock Up 1.5%
Shares of NASDAQ:WDC opened at $469.05 on Friday. The business has a fifty day moving average of $554.31 and a two-hundred day moving average of $433.12. The stock has a market cap of $161.67 billion, a P/E ratio of 19.37 and a beta of 2.14. Western Digital Corporation has a 52-week low of $74.42 and a 52-week high of $799.87.
Western Digital (NASDAQ:WDC – Get Free Report) last issued its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period last year, the company earned $1.66 EPS. The company’s revenue for the quarter was up 43.8% on a year-over-year basis. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. On average, equities analysts anticipate that Western Digital Corporation will post 19.65 earnings per share for the current year.
Western Digital Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, September 8th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital’s dividend payout ratio (DPR) is presently 2.48%.
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.
Featured Stories
- Five stocks we like better than Western Digital
- 3 Energy Stocks Raising Dividends as the Sector Surges
- 5 Reasons the S&P 500 Could Keep Rallying Through Year-End
- Walmart’s Post-Earnings Drop Could Be a Buying Opportunity
- The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future
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.
