Callan Family Office LLC Acquires New Holdings in Western Digital Corporation $WDC

Key Points

• Callan Family Office acquired 18,637 Western Digital shares worth approximately $11.9 million in the second quarter. Institutional investors and hedge funds own 92.51% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $534.56, despite some recent rating and target reductions.
• 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. The company also declared a quarterly dividend of $0.15 per share.

Callan Family Office LLC bought a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 18,637 shares of the data storage provider's stock, valued at approximately $11,904,000.

Other hedge funds also recently bought and sold shares of the company. Handelsbanken Fonder AB raised its holdings in Western Digital by 71.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 230,578 shares of the data storage provider's stock worth $147,275,000 after buying an additional 96,078 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in Western Digital in the fourth quarter valued at approximately $2,270,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Western Digital by 33.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,122,095 shares of the data storage provider's stock valued at $193,303,000 after buying an additional 282,156 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Western Digital in the fourth quarter valued at approximately $20,889,000. Finally, World Investment Advisors boosted its holdings in shares of Western Digital by 145.8% in the fourth quarter. World Investment Advisors now owns 5,950 shares of the data storage provider's stock valued at $1,025,000 after buying an additional 3,529 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WDC. Morgan Stanley restated an "overweight" rating and set a $676.00 price objective on shares of Western Digital in a report on Thursday, August 6th. Weiss Ratings lowered shares of Western Digital from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Fox Advisors cut Western Digital from an "overweight" rating to an "equal weight" rating in a report on Monday, June 22nd. Wells Fargo & Company lifted their price target on Western Digital from $575.00 to $730.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Finally, Rosenblatt Securities cut their price target on Western Digital from $900.00 to $800.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $534.56.

Insider Buying and Selling

In related news, insider Cynthia L. Tregillis sold 808 shares of the company's stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total transaction of $427,941.04. Following the sale, the insider owned 114,539 shares in the company, valued at approximately $60,663,290.57. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the transaction, the insider directly owned 85,154 shares of the company's stock, valued at $47,366,060.96. This trade represents a 2.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,679 shares of company stock worth $11,451,605 over the last 90 days. 0.18% of the stock is currently owned by insiders.

Western Digital Stock Down 2.0%

NASDAQ WDC opened at $459.44 on Friday. Western Digital Corporation has a 12-month low of $74.57 and a 12-month high of $799.87. The company has a market capitalization of $158.36 billion, a PE ratio of 18.98 and a beta of 2.14. The firm's 50 day moving average is $552.24 and its 200-day moving average is $433.31.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $3.56 EPS for the quarter, topping analysts' consensus estimates of $3.31 by $0.25. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The business had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the firm posted $1.66 earnings per share. The firm's revenue for the quarter was up 43.8% on a year-over-year basis. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. As a group, sell-side analysts expect that Western Digital Corporation will post 19.65 EPS for the current year.

Western Digital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.15 per share. 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 is currently 2.48%.

Western Digital Company 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.

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