4,576 Shares in Western Digital Corporation $WDC Purchased by PCM Encore LLC

Key Points

• PCM Encore LLC acquired 4,576 Western Digital shares worth approximately $2.9 million in the second quarter. Institutional investors collectively own 92.51% of WDC’s outstanding stock.
• Western Digital reported quarterly EPS of $3.56, beating estimates of $3.31, while revenue rose 43.8% year over year to $3.75 billion. The company issued fiscal Q1 2027 EPS guidance of $3.85–$4.15.
• Insiders sold 24,679 shares worth $11.45 million over the past three months, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $534.56. Western Digital also declared a quarterly dividend of $0.15 per share.

PCM Encore LLC acquired a new position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,576 shares of the data storage provider's stock, valued at approximately $2,923,000.

Several other institutional investors and hedge funds also recently bought and sold shares of WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Western Digital by 7.7% in the 1st 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 purchasing an additional 3,019 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Western Digital by 229.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider's stock worth $56,000 after purchasing an additional 967 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Western Digital during the second quarter worth approximately $307,000. Cresset Asset Management LLC purchased a new position in Western Digital during the second quarter valued at approximately $292,000. Finally, Federated Hermes Inc. grew its position in Western Digital by 55.3% during the second 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 in the last quarter. Hedge funds and other institutional investors own 92.51% of the company's stock.

Insider Buying and Selling

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total value of $8,899,400.00. Following the completion of the sale, the chief executive officer owned 575,966 shares of the company's stock, valued at $256,287,591.02. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 808 shares of the company's stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total value of $427,941.04. Following the sale, the insider owned 114,539 shares of the company's stock, valued at approximately $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 have sold 24,679 shares of company stock valued at $11,451,605 in the last three months. 0.18% of the stock is currently owned by corporate insiders.

Western Digital Stock Up 1.5%

WDC stock opened at $469.05 on Friday. The firm has a 50 day moving average of $554.31 and a two-hundred day moving average of $433.12. Western Digital Corporation has a 12 month low of $74.42 and a 12 month high of $799.87. The company has a market capitalization of $161.67 billion, a price-to-earnings ratio of 19.37 and a beta of 2.14.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share for the quarter, beating analysts' consensus estimates of $3.31 by $0.25. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the firm earned $1.66 EPS. Western Digital'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, research analysts expect that Western Digital Corporation will post 19.65 EPS for the current fiscal year.

Western Digital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be issued 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 2.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald increased their target price on shares of Western Digital from $660.00 to $900.00 and gave the stock an "overweight" rating in a research report on Monday, June 29th. Bank of America boosted their price target on shares of Western Digital from $610.00 to $732.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Fox Advisors lowered Western Digital from an "overweight" rating to an "equal weight" rating in a report on Monday, June 22nd. Robert W. Baird set a $630.00 price objective on Western Digital in a research report on Thursday, August 6th. Finally, UBS Group reduced their price objective on Western Digital from $560.00 to $525.00 and set a "neutral" rating for the company in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Western Digital presently has an average rating of "Moderate Buy" and a consensus target price of $534.56.

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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