Sivia Capital Partners LLC Acquires Shares of 4,803 Western Digital Corporation $WDC

Key Points

• Sivia Capital Partners LLC acquired 4,803 shares of Western Digital Corporation, valued at approximately $307,000, during the second quarter.
• Several hedge funds increased their stakes in Western Digital, with institutional investors and hedge funds owning 92.51% of the company’s stock.
• Western Digital's stock saw a significant increase in target prices from analysts, with the average target being $86.95, reflecting strong market confidence in the company's performance.

Sivia Capital Partners LLC acquired a new position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,803 shares of the data storage provider's stock, valued at approximately $307,000.

Several other hedge funds have also modified their holdings of WDC. Elequin Capital LP acquired a new position in Western Digital in the fourth quarter valued at approximately $40,000. Zions Bancorporation National Association UT acquired a new stake in shares of Western Digital during the 1st quarter worth about $29,000. Allworth Financial LP raised its stake in Western Digital by 34.1% in the 1st quarter. Allworth Financial LP now owns 955 shares of the data storage provider's stock worth $38,000 after purchasing an additional 243 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Western Digital in the 1st quarter worth about $40,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Western Digital by 242.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,208 shares of the data storage provider's stock valued at $49,000 after buying an additional 855 shares in the last quarter. 92.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Gene M. Zamiska sold 353 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $80.90, for a total value of $28,557.70. Following the completion of the sale, the senior vice president owned 27,425 shares of the company's stock, valued at $2,218,682.50. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Cynthia L. Tregillis sold 14,067 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $74.78, for a total value of $1,051,930.26. Following the transaction, the insider owned 135,351 shares in the company, valued at $10,121,547.78. This represents a 9.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,730 shares of company stock valued at $3,921,594. 0.30% of the stock is owned by insiders.

Western Digital Trading Up 1.4%

Shares of NASDAQ:WDC traded up $1.48 on Friday, hitting $106.63. 11,026,533 shares of the company's stock were exchanged, compared to its average volume of 8,291,884. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $107.18. The stock has a market capitalization of $37.20 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 1.19 and a beta of 1.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84. The business's 50 day simple moving average is $80.13 and its two-hundred day simple moving average is $59.13.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.18. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the firm posted $1.44 EPS. The business's revenue was up 30.0% on a year-over-year basis. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. Analysts anticipate that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. Western Digital's dividend payout ratio is currently 7.77%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Western Digital from $100.00 to $123.00 and gave the stock a "buy" rating in a research note on Monday. The Goldman Sachs Group started coverage on shares of Western Digital in a report on Thursday, July 10th. They set a "neutral" rating and a $70.00 price objective on the stock. UBS Group upped their target price on shares of Western Digital from $45.00 to $75.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. TD Cowen upped their target price on shares of Western Digital from $58.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Sanford C. Bernstein upgraded shares of Western Digital to a "hold" rating in a research report on Tuesday. Seventeen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.68.

Western Digital Company 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.