6,794 Shares in Western Digital Corporation $WDC Purchased by Pure Financial Advisors LLC

Pure Financial Advisors LLC purchased a new position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,794 shares of the data storage provider's stock, valued at approximately $4,340,000.

Several other hedge funds have also made changes to their positions in the stock. Dogwood Wealth Management LLC lifted its position in Western Digital by 28.6% in the second quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider's stock worth $57,000 after purchasing an additional 20 shares during the period. Legacy Wealth Asset Management LLC grew its stake in shares of Western Digital by 1.0% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 2,302 shares of the data storage provider's stock valued at $1,470,000 after purchasing an additional 22 shares during the period. Everpar Advisors LLC grew its position in Western Digital by 1.8% in the second quarter. Everpar Advisors LLC now owns 1,442 shares of the data storage provider's stock valued at $921,000 after acquiring an additional 25 shares during the period. Ares Financial Consulting LLC increased its position in shares of Western Digital by 45.5% during the 2nd quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider's stock worth $51,000 after purchasing an additional 25 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC increased its holdings in shares of Western Digital by 2.1% during the second quarter. Dynamic Advisor Solutions LLC now owns 1,390 shares of the data storage provider's stock worth $888,000 after buying an additional 28 shares in the last quarter. Institutional investors own 92.51% of the company's stock.

Western Digital Stock Up 4.0%

Shares of WDC stock opened at $468.88 on Thursday. The company's fifty day simple moving average is $538.41 and its 200-day simple moving average is $438.22. The firm has a market cap of $161.61 billion, a PE ratio of 19.37 and a beta of 2.14. Western Digital Corporation has a 12 month low of $77.90 and a 12 month high of $799.87.

Western Digital (NASDAQ:WDC - Get Free Report) last released its 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 during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the firm earned $1.66 earnings per share. The firm's revenue for the quarter was up 43.8% compared to the same quarter last year. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. On average, equities analysts predict that Western Digital Corporation will post 19.65 earnings per share for the current fiscal year.

Western Digital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital's dividend payout ratio (DPR) is currently 2.48%.

Insiders Place Their Bets

In other news, insider Cynthia L. Tregillis sold 808 shares of Western Digital stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $529.63, for a total value of $427,941.04. Following the completion of the transaction, the insider owned 114,539 shares of the company's stock, valued at $60,663,290.57. This trade represents a 0.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $256,287,591.02. The trade was a 3.36% decrease in their ownership of the stock. 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 24,634 shares of company stock valued at $11,357,073 in the last 90 days. 0.18% of the stock is currently owned by insiders.

Key Headlines Impacting Western Digital

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: Western Digital disclosed exchange agreements covering approximately $191 million of its 3.00% convertible notes due 2028. The transaction will provide holders with cash and shares, potentially reducing debt, although the stock component could create some dilution. The exchanges are expected to close on or after September 2. Western Digital convertible notes article
• Positive Sentiment: Investors continue to see support from AI, cloud and data-center demand. Western Digital recently reported quarterly revenue of $3.75 billion, up 43.8% year over year, and non-GAAP EPS of $3.56 versus the $3.31 consensus. Management’s next-quarter outlook also points to continued strong growth. Western Digital debt exchange and AI demand analysis
• Positive Sentiment: A hammer chart pattern suggests technical support after the stock’s recent decline, while upward earnings-estimate revisions may improve the likelihood of a near-term rebound. Western Digital bottoming pattern article
• Neutral Sentiment: Analyst sentiment remains broadly favorable, with a consensus “Moderate Buy” rating and a median recent price target of approximately $597.50. However, targets vary widely, reflecting uncertainty around valuation and execution.
• Negative Sentiment: Western Digital is assessing potential effects from new U.S. sanctions related to Iran, including possible compliance costs, supply-chain disruptions and impacts on contract manufacturing or shipments. Western Digital Iran sanctions exposure article
• Negative Sentiment: Insider activity has been heavily weighted toward sales, including transactions by executives and directors. The reported sales were made under pre-arranged trading plans, reducing their significance, but they remain a potential overhang for sentiment.
• Negative Sentiment: Broader caution toward highly valued AI and memory stocks, ahead of Nvidia’s earnings, and concerns about potential Chinese memory competition could pressure sector valuations and future pricing.

Analyst Upgrades and Downgrades

WDC has been the topic of several research reports. UBS Group reduced their price target on shares of Western Digital from $560.00 to $525.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. Bank of America increased their target price on Western Digital from $610.00 to $732.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Morgan Stanley reissued an "overweight" rating and issued a $676.00 price target on shares of Western Digital in a report on Thursday, August 6th. Fox Advisors cut Western Digital from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 22nd. Finally, Weiss Ratings cut Western Digital from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Western Digital has a consensus rating of "Moderate Buy" and a consensus price target of $534.56.

About Western Digital

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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