CX Institutional Purchases 2,487 Shares of Western Digital Corporation $WDC

Key Points

• CX Institutional increased its holdings in Western Digital Corporation by 78% during the 2nd quarter, purchasing an additional 2,487 shares, bringing its total ownership to 5,676 shares valued at $363,000.
• Several hedge funds have modified their positions in Western Digital, with institutional investors now owning 92.51% of the company's stock.
• Western Digital recently announced a quarterly dividend of $0.10 per share, which translates to an annual yield of 0.4%, reflecting a payout ratio of 7.77%.

CX Institutional grew its position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 78.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,676 shares of the data storage provider's stock after buying an additional 2,487 shares during the quarter. CX Institutional's holdings in Western Digital were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of WDC. Public Employees Retirement System of Ohio lifted its position in shares of Western Digital by 1.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 151,296 shares of the data storage provider's stock worth $9,022,000 after buying an additional 2,053 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Western Digital during the 4th quarter worth approximately $9,663,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Western Digital by 29.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,864 shares of the data storage provider's stock worth $1,125,000 after buying an additional 4,324 shares in the last quarter. Kera Capital Partners Inc. bought a new position in shares of Western Digital during the 1st quarter worth approximately $237,000. Finally, Versant Capital Management Inc lifted its position in shares of Western Digital by 879.4% during the 1st quarter. Versant Capital Management Inc now owns 4,045 shares of the data storage provider's stock worth $164,000 after buying an additional 3,632 shares in the last quarter. Institutional investors own 92.51% of the company's stock.

Insider Activity at Western Digital

In related news, 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Gene M. Zamiska sold 3,160 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $75.68, for a total transaction of $239,148.80. Following the completion of the transaction, the senior vice president owned 31,560 shares of the company's stock, valued at $2,388,460.80. This trade represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,730 shares of company stock valued at $3,921,594 over the last ninety days. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WDC shares. Wells Fargo & Company lifted their target price 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. Mizuho lifted their target price on shares of Western Digital from $87.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday. TD Cowen raised their price target on shares of Western Digital from $58.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Morgan Stanley raised their price target on shares of Western Digital from $92.00 to $99.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Finally, Wedbush raised their price target on shares of Western Digital from $78.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Seventeen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.68.

Western Digital Stock Up 5.4%

Shares of NASDAQ:WDC opened at $112.41 on Tuesday. The firm has a fifty day moving average price of $81.04 and a two-hundred day moving average price of $59.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84. Western Digital Corporation has a one year low of $28.83 and a one year high of $112.83. The company has a market cap of $39.22 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.20 and a beta of 1.69.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The data storage provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.48 by $0.18. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period last year, the firm earned $1.44 EPS. The business's quarterly revenue 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. Analysts anticipate that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Announces Dividend

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

Western Digital Company 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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