Dynamic Technology Lab Private Ltd Invests $606,000 in Western Digital Corporation $WDC

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new stake in Western Digital Corporation, purchasing 14,992 shares valued at approximately $606,000 in the first quarter.
• Western Digital's Board of Directors approved a share buyback plan allowing the company to repurchase up to $2.00 billion of its shares, indicating a belief that the stock is undervalued.
• Recently, Western Digital announced a quarterly dividend of $0.10 per share, reflecting an annualized yield of 0.4%, with a payout ratio of 7.77%.

Dynamic Technology Lab Private Ltd acquired a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 14,992 shares of the data storage provider's stock, valued at approximately $606,000.

Other institutional investors have also recently bought and sold shares of the company. Elequin Capital LP acquired a new position in shares of Western Digital in the 4th quarter valued at approximately $40,000. Zions Bancorporation National Association UT acquired a new position in shares of Western Digital in the 1st quarter valued at approximately $29,000. Allworth Financial LP raised its position in shares of Western Digital by 34.1% in the 1st quarter. Allworth Financial LP now owns 955 shares of the data storage provider's stock valued at $38,000 after buying an additional 243 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of Western Digital in the 1st quarter valued at approximately $40,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Western Digital by 242.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,208 shares of the data storage provider's stock valued at $49,000 after buying an additional 855 shares in the last quarter. Institutional investors own 92.51% of the company's stock.

Insider Buying and Selling at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 11,343 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $90.29, for a total value of $1,024,159.47. Following the completion of the transaction, the insider directly owned 151,596 shares in the company, valued at approximately $13,687,602.84. This represents a 6.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cynthia L. Tregillis sold 14,067 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the sale, the insider owned 135,351 shares of the company's stock, valued at approximately $10,121,547.78. This trade represents a 9.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,975 shares of company stock valued at $3,935,806. Insiders own 0.30% of the company's stock.

Western Digital Trading Up 1.6%

NASDAQ WDC traded up $1.51 on Friday, hitting $97.66. The company's stock had a trading volume of 6,751,889 shares, compared to its average volume of 7,141,993. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.47. Western Digital Corporation has a 1-year low of $28.83 and a 1-year high of $98.86. The company's 50-day moving average is $76.27 and its 200 day moving average is $57.20. The firm has a market cap of $34.07 billion, a PE ratio of 18.96, a PEG ratio of 1.16 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 earnings per share (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 analysts' expectations of $2.45 billion. During the same period in the prior year, the company posted $1.44 EPS. The company's revenue was up 30.0% on a year-over-year basis. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. As a group, 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 will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date is Thursday, September 4th. Western Digital's dividend payout ratio is 7.77%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Rosenblatt Securities boosted their target price on shares of Western Digital from $53.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. BNP Paribas restated an "outperform" rating on shares of Western Digital in a research report on Friday, May 16th. Morgan Stanley upped their price objective on shares of Western Digital from $92.00 to $99.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Bank of America upped their price objective on shares of Western Digital from $62.00 to $71.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Finally, Susquehanna upped their price objective on shares of Western Digital from $40.00 to $62.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $81.89.

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.