Clear Harbor Asset Management LLC Sells 3,738 Shares of Western Digital Corporation $WDC

Key Points

• Clear Harbor Asset Management LLC reduced its stake in Western Digital Corporation by 13.7%, selling 3,738 shares and retaining a total of 23,478 shares valued at approximately $1.5 million.
• Western Digital's dividends have been declared at $0.10 per share, with an annualized yield of 0.4%, reflecting a payout ratio of 7.77%.
• Despite recent adjustments in analyst ratings, the consensus rating for Western Digital remains at "Moderate Buy" with an average price target of $88.68.

Clear Harbor Asset Management LLC trimmed its stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 13.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,478 shares of the data storage provider's stock after selling 3,738 shares during the quarter. Clear Harbor Asset Management LLC's holdings in Western Digital were worth $1,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Park Avenue Securities LLC bought a new position in Western Digital during the 2nd quarter worth approximately $1,257,000. Avanza Fonder AB grew its position in Western Digital by 2.1% during the 2nd quarter. Avanza Fonder AB now owns 25,258 shares of the data storage provider's stock worth $1,616,000 after acquiring an additional 513 shares during the last quarter. CX Institutional grew its position in Western Digital by 78.0% during the 2nd quarter. CX Institutional now owns 5,676 shares of the data storage provider's stock worth $363,000 after acquiring an additional 2,487 shares during the last quarter. UMB Bank n.a. grew its position in Western Digital by 6.2% during the 2nd quarter. UMB Bank n.a. now owns 3,465 shares of the data storage provider's stock worth $222,000 after acquiring an additional 202 shares during the last quarter. Finally, Weatherly Asset Management L. P. bought a new position in Western Digital during the 2nd quarter worth approximately $244,000. 92.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WDC has been the topic of several recent research reports. Zacks Research lowered Western Digital from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. The Goldman Sachs Group initiated coverage on Western Digital in a research note on Thursday, July 10th. They set a "neutral" rating and a $70.00 target price on the stock. Barclays boosted their target price on Western Digital from $80.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Wedbush boosted their target price on Western Digital from $78.00 to $90.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Susquehanna boosted their target price on Western Digital from $40.00 to $62.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.68.

Western Digital Trading Up 1.4%

Western Digital stock opened at $106.63 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The business's fifty day simple moving average is $80.13 and its two-hundred day simple moving average is $59.35. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $107.18. The company has a market capitalization of $37.20 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.69.

Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.48 by $0.18. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the previous year, the company posted $1.44 earnings per share. The company's revenue for the quarter was up 30.0% compared to the same quarter last year. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. As a group, equities analysts predict that Western Digital Corporation will post 4.89 earnings per share for the current fiscal year.

Western Digital Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Vidyadhara K. Gubbi sold 11,343 shares of the company's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $90.29, for a total transaction of $1,024,159.47. Following the transaction, the insider directly owned 151,596 shares of the company's stock, valued at $13,687,602.84. This represents a 6.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Cynthia L. Tregillis sold 14,067 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $74.78, for a total value of $1,051,930.26. Following the transaction, the insider directly owned 135,351 shares in the company, valued at approximately $10,121,547.78. The trade was 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. Company 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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