Western Digital Corporation (NASDAQ:WDC – Get Free Report) insider Cynthia Tregillis sold 476 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $450.78, for a total transaction of $214,571.28. Following the transaction, the insider directly owned 114,784 shares of the company’s stock, valued at $51,742,331.52. This represents a 0.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Western Digital Stock Performance
Shares of Western Digital stock traded down $6.88 during midday trading on Thursday, hitting $462.00. The company had a trading volume of 7,597,984 shares, compared to its average volume of 8,125,753. The company has a 50 day moving average of $532.72 and a 200 day moving average of $439.49. Western Digital Corporation has a 52-week low of $77.90 and a 52-week high of $799.87. The stock has a market capitalization of $159.24 billion, a P/E ratio of 19.08 and a beta of 2.14.
Western Digital (NASDAQ:WDC – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.25. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.70 billion. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The company’s revenue was up 43.8% on a year-over-year basis. During the same period last year, the company earned $1.66 earnings per share. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Equities research analysts forecast that Western Digital Corporation will post 19.65 EPS for the current year.
Western Digital Announces Dividend
Analyst Upgrades and Downgrades
A number of research firms have commented on WDC. The Goldman Sachs Group reissued a “neutral” rating and issued a $400.00 target price on shares of Western Digital in a report on Friday, May 1st. Weiss Ratings downgraded Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Citigroup reduced their price objective on shares of Western Digital from $800.00 to $740.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Mizuho set a $590.00 price objective on Western Digital in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded Western Digital from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and a consensus price target of $534.56.
Key Headlines Impacting Western Digital
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Western Digital’s AI- and cloud-storage growth thesis remains intact. Industry momentum from AI infrastructure, cloud computing, the Internet of Things and automotive applications is supporting expectations for continued demand. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
- Positive Sentiment: A recent exchange of approximately $191 million of 3% convertible notes due 2028 is viewed as constructive liability management because it can reduce debt, although issuing shares may create some dilution. What’s Going on With Western Digital Stock on Wednesday?
- Positive Sentiment: Western Digital recently reported revenue growth of 44% year over year to $3.75 billion and earnings of $3.56 per share, exceeding estimates. Its next-quarter earnings guidance of $3.85 to $4.15 per share also supports the bullish fundamental case.
- Positive Sentiment: Technical and analyst indicators remain favorable: a recent hammer chart pattern suggested potential support, while upward earnings-estimate revisions and a bullish Wall Street consensus point to possible longer-term recovery. Western Digital May Find a Bottom Soon
Institutional Trading of Western Digital
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. raised its position in shares of Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 407 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Western Digital during the second quarter worth about $28,000. Dunhill Financial LLC acquired a new position in shares of Western Digital in the second quarter valued at approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Western Digital during the second quarter valued at approximately $31,000. Finally, Valley Wealth Managers Inc. acquired a new stake in Western Digital during the first quarter worth approximately $32,000. Institutional investors and hedge funds own 92.51% of the company’s stock.
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.
See Also
- Five stocks we like better than Western Digital
- Nutanix’s Rally Has a Bigger Story Than Earnings as AMD’s AI Bet Takes Shape
- SEC Probe Puts Wall Street Leverage Risk Back in Focus
- A Bearish-Dollar Options Surge Raises the Stakes for Warsh at Jackson Hole
- Five Below’s Turnaround Is Working—But Has the Stock Run Too Far?
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.
