3,340 Shares in Western Digital Corporation $WDC Purchased by Dakota Wealth Management

Key Points

• Dakota Wealth Management acquired 3,340 shares of Western Digital Corporation, valued at approximately $214,000, as part of their 2nd quarter investments.
• Analysts have raised their price targets for Western Digital, with Citigroup setting a new target of $110.00 and consensus expectations projecting a rating of "Moderate Buy."
• Western Digital recently announced a quarterly dividend of $0.10 per share, with a current yield of 0.3% and a payout ratio of 7.77%.

Dakota Wealth Management acquired a new position in Western Digital Corporation (NASDAQ:WDC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,340 shares of the data storage provider's stock, valued at approximately $214,000.

Several other large investors also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC purchased a new stake in Western Digital in the 2nd quarter worth about $267,000. TD Private Client Wealth LLC increased its holdings in Western Digital by 1,544.6% in the 2nd quarter. TD Private Client Wealth LLC now owns 8,075 shares of the data storage provider's stock worth $517,000 after acquiring an additional 7,584 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Western Digital by 2.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 197,043 shares of the data storage provider's stock worth $12,609,000 after acquiring an additional 4,461 shares during the last quarter. Ballentine Partners LLC purchased a new stake in Western Digital in the 2nd quarter worth about $354,000. Finally, Cigna Investments Inc. New bought a new position in Western Digital in the 2nd quarter worth about $222,000. Hedge funds and other institutional investors own 92.51% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup raised their target price on Western Digital from $88.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. The Goldman Sachs Group assumed coverage on Western Digital in a research note on Thursday, July 10th. They issued a "neutral" rating and a $70.00 target price for the company. Sanford C. Bernstein upgraded Western Digital to a "hold" rating in a research note on Tuesday, September 16th. Morgan Stanley raised their target price on Western Digital from $92.00 to $99.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Finally, Wedbush raised their target price on Western Digital from $78.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $91.47.

Insider Transactions at Western Digital

In other Western Digital news, CEO Irving Tan sold 8,621 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $75.90, for a total value of $654,333.90. Following the completion of the sale, the chief executive officer owned 594,836 shares of the company's stock, valued at $45,148,052.40. This represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cynthia L. Tregillis sold 14,067 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $74.78, for a total value of $1,051,930.26. Following the completion of the sale, the insider directly owned 135,351 shares of the company's stock, valued at approximately $10,121,547.78. This represents a 9.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,730 shares of company stock worth $3,921,594 in the last three months. Corporate insiders own 0.30% of the company's stock.

Western Digital Stock Performance

Shares of WDC opened at $116.74 on Tuesday. The company has a market cap of $40.73 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 0.91 and a beta of 1.69. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $85.30 and a 200-day moving average price of $62.22. Western Digital Corporation has a 12-month low of $28.83 and a 12-month high of $118.14.

Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.18. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.Western Digital's quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.44 EPS. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. As a group, equities analysts forecast that Western Digital Corporation will post 4.89 earnings per share for the current fiscal year.

Western Digital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 annualized dividend and a yield of 0.3%. Western Digital's dividend payout ratio is currently 7.77%.

Western Digital Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.

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