Braun Stacey Associates Inc. Sells 52,550 Shares of Western Digital Corporation $WDC

Braun Stacey Associates Inc. decreased its position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 25.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 154,944 shares of the data storage provider's stock after selling 52,550 shares during the quarter. Western Digital comprises about 2.8% of Braun Stacey Associates Inc.'s investment portfolio, making the stock its 7th largest holding. Braun Stacey Associates Inc.'s holdings in Western Digital were worth $98,966,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. SPX Gestao de Recursos Ltda bought a new position in shares of Western Digital during the second quarter worth about $7,218,000. Archer Investment Corp bought a new stake in Western Digital in the 2nd quarter valued at about $394,000. Fox Hill Wealth Management bought a new stake in Western Digital in the 2nd quarter valued at about $560,000. Kingsview Wealth Management LLC acquired a new position in Western Digital during the 2nd quarter valued at about $447,000. Finally, Beacon Pointe Advisors LLC bought a new position in Western Digital in the 2nd quarter worth about $4,781,000. Institutional investors own 92.51% of the company's stock.

More Western Digital News

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

• Positive Sentiment: Western Digital’s long-term outlook remains supported by demand for AI infrastructure, cloud computing, enterprise storage, automotive systems and other data-intensive applications. Analysts at Zacks continue to identify WDC as a potential beneficiary of strong memory and storage demand, particularly following Nvidia’s solid results. 4 High-Flying Memory and Storage Giants
• Positive Sentiment: The company’s latest quarterly results provide fundamental support: revenue rose 43.8% year over year to $3.75 billion, while earnings of $3.56 per share exceeded expectations. Guidance for $3.85 to $4.15 in next-quarter EPS also remains constructive.
• Positive Sentiment: Wall Street’s consensus remains bullish, with a “Moderate Buy” rating and an average price target above the current trading level. Several firms have cited continued AI and storage demand as reasons for further upside. Wall Street’s Bullish Views on WDC
• Neutral Sentiment: Insider Cynthia Tregillis sold a small portion of her holdings under a pre-arranged Rule 10b5-1 trading plan. The transactions modestly reduce her position but do not necessarily signal deteriorating confidence. Cynthia Tregillis Insider Transactions
• Negative Sentiment: Memory and storage stocks sold off even after Nvidia reported strong results, suggesting investors are taking profits from an extended AI trade and differentiating among suppliers. Western Digital’s underperformance versus peers has amplified concern that expectations or valuation may have become too aggressive. Why Memory Stocks Fell Despite Nvidia’s Results

Analyst Upgrades and Downgrades

Several brokerages have commented on WDC. Barclays raised their price target on shares of Western Digital from $450.00 to $620.00 and gave the company an "overweight" rating in a research note on Wednesday, May 27th. Robert W. Baird set a $630.00 price objective on Western Digital in a research report on Thursday, August 6th. Fox Advisors lowered Western Digital from an "overweight" rating to an "equal weight" rating in a report on Monday, June 22nd. Susquehanna raised their target price on Western Digital from $360.00 to $500.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. Finally, Jefferies Financial Group set a $575.00 target price on Western Digital in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Western Digital presently has an average rating of "Moderate Buy" and an average price target of $534.56.

Insiders Place Their Bets

In other Western Digital news, insider Vidyadhara K. Gubbi sold 2,475 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $556.24, for a total value of $1,376,694.00. Following the transaction, the insider owned 85,154 shares of the company's stock, valued at approximately $47,366,060.96. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the stock in a transaction 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 sale, the chief executive officer owned 575,966 shares of the company's stock, valued at $256,287,591.02. This trade represents a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 26,117 shares of company stock worth $12,053,353. 0.18% of the stock is owned by insiders.

Western Digital Trading Down 0.6%

Shares of NASDAQ WDC opened at $459.45 on Friday. Western Digital Corporation has a twelve month low of $77.90 and a twelve month high of $799.87. The firm has a 50-day moving average of $526.99 and a two-hundred day moving average of $439.63. The company has a market capitalization of $158.36 billion, a price-to-earnings ratio of 18.98 and a beta of 2.14.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.25. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The company had revenue of $3.75 billion for the quarter, compared to analysts' expectations of $3.70 billion. During the same quarter in the previous year, the company posted $1.66 EPS. The business's revenue 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. As a group, research analysts predict that Western Digital Corporation will post 19.65 earnings per share for the current year.

Western Digital Dividend Announcement

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

Western Digital Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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