Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 523,250 shares of the data storage provider's stock, valued at approximately $334,210,000. Western Digital makes up about 1.5% of Clal Insurance Enterprises Holdings Ltd's holdings, making the stock its 12th biggest position. Clal Insurance Enterprises Holdings Ltd owned about 0.15% of Western Digital as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Polymer Capital Management HK LTD acquired a new position in shares of Western Digital in the second quarter valued at about $15,817,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Western Digital in the 2nd quarter worth about $172,155,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Western Digital in the 2nd quarter worth about $5,628,000. Twin Tree Management LP bought a new stake in Western Digital in the 2nd quarter valued at about $3,604,000. Finally, Clear Harbor Asset Management LLC bought a new stake in Western Digital in the 2nd quarter valued at about $2,061,000. Institutional investors own 92.51% of the company's stock.
Analyst Ratings Changes
A number of brokerages have issued reports on WDC. Zacks Research upgraded shares of Western Digital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price target on Western Digital from $530.00 to $650.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. TD Cowen increased their price target on Western Digital from $500.00 to $540.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Robert W. Baird set a $630.00 price objective on Western Digital in a research note on Thursday, August 6th. Finally, Evercore reaffirmed an "outperform" rating and issued a $575.00 price objective on shares of Western Digital in a report on Tuesday, May 26th. Two research 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 company. According to data from MarketBeat.com, Western Digital presently has a consensus rating of "Moderate Buy" and an average price target of $534.56.
Check Out Our Latest Stock Analysis on Western Digital
Insiders Place Their Bets
In related news, Director Bruce E. Kiddoo sold 750 shares of the company's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the sale, the director directly owned 3,903 shares in the company, valued at $2,062,813.56. This represents a 16.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Irving Tan sold 20,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 575,966 shares in the company, valued at $256,287,591.02. This trade represents a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 24,679 shares of company stock worth $11,451,605. 0.18% of the stock is currently owned by company insiders.
Western Digital Price Performance
WDC stock opened at $459.44 on Monday. The company's 50-day moving average price is $552.24 and its two-hundred day moving average price is $434.46. The firm 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 12 month low of $74.57 and a 12 month high of $799.87.
Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share for the quarter, topping analysts' consensus estimates of $3.31 by $0.25. The company had revenue of $3.75 billion during 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 firm's quarterly revenue was up 43.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.66 EPS. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Equities analysts predict that Western Digital Corporation will post 19.65 EPS for the current year.
Western Digital Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Western Digital's dividend payout ratio (DPR) is currently 2.48%.
Western Digital Company Profile
(
Free Report)
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.
Further Reading
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