E. Ohman J or Asset Management AB Makes New $987,000 Investment in Western Digital Corporation $WDC

Key Points

• E. Ohman J or Asset Management AB invested approximately $987,000 in Western Digital Corporation, acquiring 15,430 shares of the company in the 2nd quarter.
• Wall Street analysts have raised their target prices for Western Digital, with Barclays increasing theirs to $105.00 and TD Cowen to $90.00, reflecting a generally positive outlook for the stock.
• Western Digital recently announced a $0.10 quarterly dividend, which will be paid to stockholders, indicating a commitment to returning value to its investors.

E. Ohman J or Asset Management AB bought a new position in Western Digital Corporation (NASDAQ:WDC - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 15,430 shares of the data storage provider's stock, valued at approximately $987,000.

Several other hedge funds have also made changes to their positions in WDC. Allworth Financial LP increased its holdings in shares of Western Digital by 34.1% in the first quarter. Allworth Financial LP now owns 955 shares of the data storage provider's stock valued at $38,000 after purchasing an additional 243 shares during the period. Truvestments Capital LLC increased its holdings in shares of Western Digital by 11.7% in the first quarter. Truvestments Capital LLC now owns 2,483 shares of the data storage provider's stock valued at $100,000 after purchasing an additional 261 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Western Digital by 4.5% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,080 shares of the data storage provider's stock worth $246,000 after buying an additional 263 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Western Digital by 0.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,395 shares of the data storage provider's stock worth $1,835,000 after buying an additional 264 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Western Digital by 17.0% in the first quarter. Advisors Asset Management Inc. now owns 2,059 shares of the data storage provider's stock worth $83,000 after buying an additional 299 shares during the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WDC has been the topic of a number of recent research reports. Barclays upped their target price on Western Digital from $80.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. TD Cowen upped their target price on Western Digital from $58.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. UBS Group upped their target price on Western Digital from $45.00 to $75.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Wedbush upped their target price on Western Digital from $78.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Susquehanna upped their target price on Western Digital from $40.00 to $62.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $86.44.

Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 3,160 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $75.68, for a total value of $239,148.80. Following the transaction, the senior vice president owned 31,560 shares in the company, valued at $2,388,460.80. This trade represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Irving Tan sold 8,621 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $75.90, for a total value of $654,333.90. Following the completion of the transaction, the chief executive officer owned 594,836 shares in the company, valued at approximately $45,148,052.40. This trade represents a 1.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,730 shares of company stock worth $3,921,594. 0.30% of the stock is owned by insiders.

Western Digital Stock Performance

Shares of WDC stock opened at $102.39 on Tuesday. The company has a market capitalization of $35.72 billion, a P/E ratio of 19.88, a P/E/G ratio of 1.17 and a beta of 1.69. The business's 50 day moving average is $77.01 and its two-hundred day moving average is $57.69. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. Western Digital Corporation has a 12-month low of $28.83 and a 12-month high of $103.78.

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

Western Digital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, September 4th. Western Digital's dividend payout ratio (DPR) 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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