Ballentine Partners LLC Purchases Shares of 5,535 Western Digital Corporation $WDC

Key Points

• Ballentine Partners LLC acquired a stake in Western Digital Corporation by purchasing 5,535 shares valued at approximately $354,000.
• Analysts have rated Western Digital with a consensus of "Moderate Buy" and set an average price target of $89.63, reflecting positive sentiments amidst recent upgrades.
• Western Digital announced a quarterly dividend of $0.10 per share, resulting in an annualized dividend of $0.40 and a dividend yield of 0.4%.

Ballentine Partners LLC purchased a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,535 shares of the data storage provider's stock, valued at approximately $354,000.

Several other large investors have also recently bought and sold shares of the stock. Zions Bancorporation National Association UT bought a new position in shares of Western Digital during the first quarter worth approximately $29,000. Allworth Financial LP increased 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 bought a new position in shares of Western Digital during the first quarter worth approximately $40,000. Whittier Trust Co. of Nevada Inc. increased 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 increased 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 owned by institutional investors.

Analyst Upgrades and Downgrades

WDC has been the topic of several analyst reports. Sanford C. Bernstein upgraded shares of Western Digital to a "hold" rating in a research report on Tuesday, September 16th. Morgan Stanley increased their price target on shares of Western Digital from $92.00 to $99.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Susquehanna increased their price target on shares of Western Digital from $40.00 to $62.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Wells Fargo & Company increased their price target on shares of Western Digital from $80.00 to $95.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, TD Cowen increased their price target on shares of Western Digital from $58.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $89.63.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $106.88 on Monday. The firm has a market cap of $37.29 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 0.91 and a beta of 1.69. The firm's fifty day moving average is $84.34 and its 200-day moving average is $61.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.08. Western Digital Corporation has a 52 week low of $28.83 and a 52 week high of $113.75.

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 for the quarter, topping 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 business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter last year, the firm earned $1.44 earnings per share. Western Digital's quarterly 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. Sell-side analysts predict that Western Digital Corporation will post 4.89 earnings per share for the current year.

Western Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. Western Digital's payout ratio is presently 7.77%.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 353 shares of the business's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $80.90, for a total transaction of $28,557.70. Following the completion of the sale, the senior vice president directly owned 27,425 shares of the company's stock, valued at $2,218,682.50. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 stock was sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the transaction, the insider owned 135,351 shares in the company, valued at approximately $10,121,547.78. This trade represents a 9.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,730 shares of company stock valued at $3,921,594. Insiders own 0.30% of the company's stock.

Western Digital 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.

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