Alyeska Investment Group L.P. lessened its position in Western Digital Corporation (NASDAQ:WDC - Free Report) by 83.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,282 shares of the data storage provider's stock after selling 129,002 shares during the quarter. Alyeska Investment Group L.P.'s holdings in Western Digital were worth $16,787,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. grew its stake in shares of Western Digital by 4,070.0% in the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock worth $27,000 after acquiring an additional 407 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Western Digital during the 2nd quarter worth $28,000. Dunhill Financial LLC acquired a new position in Western Digital during the 2nd quarter worth $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Western Digital during the 2nd quarter worth about $31,000. Finally, Valley Wealth Managers Inc. acquired a new stake in Western Digital in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 92.51% of the company's stock.
Insider Activity
In other Western Digital news, insider Cynthia L. Tregillis sold 1,007 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $478.36, for a total transaction of $481,708.52. Following the transaction, the insider directly owned 112,155 shares in the company, valued at approximately $53,650,465.80. This represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 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 transaction, the chief executive officer directly owned 575,966 shares of the company's stock, valued at approximately $256,287,591.02. This trade represents a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 23,642 shares of company stock valued at $10,676,659 in the last quarter. Company insiders own 0.18% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on WDC shares. Barclays boosted their price target on shares of Western Digital from $450.00 to $620.00 and gave the stock an "overweight" rating in a report on Wednesday, May 27th. Citigroup dropped their price objective on Western Digital from $800.00 to $740.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Weiss Ratings lowered Western Digital from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Wall Street Zen cut Western Digital from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 16th. Finally, Rosenblatt Securities lowered their price target on Western Digital from $900.00 to $800.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $534.56.
View Our Latest Stock Analysis on WDC
Western Digital Price Performance
Shares of NASDAQ WDC opened at $450.55 on Tuesday. Western Digital Corporation has a 1-year low of $77.90 and a 1-year high of $799.87. The company has a market cap of $155.30 billion, a PE ratio of 18.61 and a beta of 2.14. The stock has a fifty day moving average price of $521.35 and a 200 day moving average price of $442.03.
Western Digital (NASDAQ:WDC - Get Free Report) last posted 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. The firm had revenue of $3.75 billion for 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 for the quarter was up 43.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.66 earnings per share. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Analysts anticipate that Western Digital Corporation will post 19.65 earnings per share for the current fiscal year.
Western Digital Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital's dividend payout ratio (DPR) is currently 2.48%.
Western Digital Profile
(
Free Report)
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.
Further Reading
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