Anther Capital Ltd Invests $901.60 Million in Western Digital Corporation $WDC

Key Points

• Anther Capital Ltd. bought 1.41 million Western Digital shares worth approximately $901.6 million, making WDC its largest portfolio holding at 23.1% of assets. Institutional investors collectively own 92.51% of the company.
• 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. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $534.56.
• The stock opened at $459.44, below its 50-day moving average of $552.24 but above its 200-day average of $434.46. The company also declared a quarterly dividend of $0.15 per share, representing a 0.1% yield.

Anther Capital Ltd bought a new position in Western Digital Corporation (NASDAQ:WDC - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 1,411,575 shares of the data storage provider's stock, valued at approximately $901,601,000. Western Digital accounts for about 23.1% of Anther Capital Ltd's investment portfolio, making the stock its biggest holding. Anther Capital Ltd owned approximately 0.41% of Western Digital at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dogwood Wealth Management LLC increased its holdings in Western Digital by 28.6% in the 2nd quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider's stock worth $57,000 after acquiring an additional 20 shares in the last quarter. Legacy Wealth Asset Management LLC raised its stake in Western Digital by 1.0% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 2,302 shares of the data storage provider's stock worth $1,470,000 after acquiring an additional 22 shares during the period. Everpar Advisors LLC raised its stake in Western Digital by 1.8% during the 2nd quarter. Everpar Advisors LLC now owns 1,442 shares of the data storage provider's stock worth $921,000 after acquiring an additional 25 shares during the period. Ares Financial Consulting LLC lifted its holdings in Western Digital by 45.5% during the second quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider's stock valued at $51,000 after purchasing an additional 25 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its holdings in 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 valued at $888,000 after purchasing an additional 28 shares in the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WDC. Cantor Fitzgerald increased their price objective on shares of Western Digital from $660.00 to $900.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. UBS Group lowered their target price on shares of Western Digital from $560.00 to $525.00 and set a "neutral" rating on the stock in a research note on Thursday, August 6th. Bank of America lifted their target price on shares of Western Digital from $610.00 to $732.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Wells Fargo & Company upped their target price on shares of Western Digital from $575.00 to $730.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Finally, Fox Advisors lowered Western Digital from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $534.56.

Western Digital Price Performance

Western Digital stock opened at $459.44 on Monday. The stock has a market cap of $158.36 billion, a P/E ratio of 18.98 and a beta of 2.14. Western Digital Corporation has a 1 year low of $74.57 and a 1 year high of $799.87. The firm's 50 day moving average price is $552.24 and its 200-day moving average price is $434.46.

Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 EPS for the quarter, topping the consensus estimate 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 net margin of 72.95% and a return on equity of 48.15%. The company's quarterly revenue was up 43.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 earnings per share. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. As a group, equities analysts expect that Western Digital Corporation will post 19.65 EPS for the current year.

Western Digital Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Western Digital's payout ratio is 2.48%.

Insider Transactions at Western Digital

In related news, insider Cynthia L. Tregillis sold 808 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total transaction of $427,941.04. Following the completion of the transaction, the insider directly owned 114,539 shares of the company's stock, valued at approximately $60,663,290.57. This represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total value of $8,899,400.00. Following the transaction, the chief executive officer owned 575,966 shares of the company's stock, valued at $256,287,591.02. This represents a 3.36% 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. Over the last ninety days, insiders sold 24,679 shares of company stock valued at $11,451,605. 0.18% of the stock is owned by company insiders.

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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