AMF Tjanstepension AB Has $119.39 Million Position in Western Digital Corporation $WDC

Key Points

• AMF Tjanstepension AB owns approximately $119.39 million in Western Digital Corporation, representing 0.8% of its portfolio after a slight reduction in shares.
• Recent insider trading activity included Gene M. Zamiska and Cynthia L. Tregillis selling significant shares, resulting in decreases of approximately 9.10% and 9.41% in their ownership, respectively.
• Analysts have increased their price targets for Western Digital stock, with expectations for an average price target of $91.47 and a consensus rating of "Moderate Buy."

AMF Tjanstepension AB reduced its stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 0.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,865,535 shares of the data storage provider's stock after selling 2,342 shares during the quarter. Western Digital makes up approximately 0.8% of AMF Tjanstepension AB's portfolio, making the stock its 28th largest position. AMF Tjanstepension AB owned about 0.53% of Western Digital worth $119,391,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new stake in shares of Western Digital during the first quarter worth approximately $29,000. Allworth Financial LP boosted its holdings in shares of Western Digital by 34.1% during the first quarter. Allworth Financial LP now owns 955 shares of the data storage provider's stock worth $38,000 after purchasing an additional 243 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in shares of Western Digital during the first quarter worth approximately $40,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Western Digital by 242.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,208 shares of the data storage provider's stock worth $49,000 after purchasing an additional 855 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in shares of Western Digital by 91.2% during the first quarter. Brooklyn Investment Group now owns 1,279 shares of the data storage provider's stock worth $52,000 after purchasing an additional 610 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Gene M. Zamiska sold 3,160 shares of Western Digital stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $75.68, for a total value of $239,148.80. Following the transaction, the senior vice president owned 31,560 shares of the company's stock, valued at $2,388,460.80. This trade represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cynthia L. Tregillis sold 14,067 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the transaction, the insider directly owned 135,351 shares in the company, valued at $10,121,547.78. This trade represents a 9.41% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,730 shares of company stock worth $3,921,594. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on WDC shares. Susquehanna raised their price target on shares of Western Digital from $40.00 to $62.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Wedbush lifted their target price on shares of Western Digital from $78.00 to $90.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Barclays lifted their target price on shares of Western Digital from $80.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Benchmark lifted their target price on shares of Western Digital from $85.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Finally, The Goldman Sachs Group began coverage on shares of Western Digital in a research note on Thursday, July 10th. They issued a "neutral" rating and a $70.00 target price for the company. Seventeen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Western Digital currently has an average rating of "Moderate Buy" and an average target price of $91.47.

Western Digital Trading Up 0.0%

NASDAQ:WDC opened at $131.31 on Friday. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $137.40. The firm has a market cap of $45.81 billion, a price-to-earnings ratio of 25.50, a P/E/G ratio of 1.10 and a beta of 1.77. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.47. The company's 50 day moving average is $90.08 and its 200-day moving average is $64.29.

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

Western Digital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given 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 dividend yield of 0.3%. Western Digital's dividend payout ratio (DPR) is currently 7.77%.

About Western Digital

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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