GC Wealth Management RIA LLC Takes Position in Western Digital Corporation $WDC

Key Points

• GC Wealth Management RIA LLC acquired 4,564 shares of Western Digital Corporation, worth approximately $292,000, during the second quarter.
• Multiple hedge funds have increased their stakes in Western Digital, with Alyeska Investment Group L.P. leading with a 130% increase, now owning over 5 million shares.
• Insiders have sold a total of 49,730 shares within the last 90 days, indicating a 9.41% decrease in ownership for one insider and a 1.43% decrease for the CEO.

GC Wealth Management RIA LLC bought a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,564 shares of the data storage provider's stock, valued at approximately $292,000.

Other hedge funds have also made changes to their positions in the company. Alyeska Investment Group L.P. increased its stake in Western Digital by 130.0% during the 1st quarter. Alyeska Investment Group L.P. now owns 5,029,359 shares of the data storage provider's stock worth $203,337,000 after buying an additional 2,842,822 shares during the period. Deutsche Bank AG increased its stake in Western Digital by 107.1% during the 1st quarter. Deutsche Bank AG now owns 3,369,331 shares of the data storage provider's stock worth $136,222,000 after buying an additional 1,742,481 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Western Digital during the 1st quarter worth $50,897,000. Westfield Capital Management Co. LP purchased a new stake in Western Digital during the 1st quarter worth $35,406,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in Western Digital during the 1st quarter worth $22,849,000. Hedge funds and other institutional investors own 92.51% of the company's stock.

Insider Buying and Selling at Western Digital

In other news, insider Cynthia L. Tregillis sold 14,067 shares of Western Digital stock in a transaction dated 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 of the company's stock, valued at approximately $10,121,547.78. The trade was a 9.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Irving Tan sold 8,621 shares of Western Digital stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $75.90, for a total transaction of $654,333.90. Following the completion of the transaction, the chief executive officer directly owned 594,836 shares of the company's stock, valued at $45,148,052.40. This trade represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,730 shares of company stock valued at $3,921,594. Corporate insiders own 0.30% of the company's stock.

Western Digital Price Performance

Shares of WDC stock opened at $130.59 on Thursday. The firm has a market cap of $45.56 billion, a P/E ratio of 25.36, a P/E/G ratio of 1.01 and a beta of 1.77. 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 1-year low of $28.83 and a 1-year high of $131.12. The firm has a fifty day moving average of $87.58 and a two-hundred day moving average of $63.09.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.18. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. The firm's revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period last year, the business earned $1.44 EPS. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. As a group, research analysts anticipate 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 $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. Western Digital's payout ratio is 7.77%.

Analysts Set New Price Targets

Several research firms recently issued reports on WDC. Wells Fargo & Company lifted their price target on shares of Western Digital from $80.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Bank of America lifted their price target on shares of Western Digital from $123.00 to $141.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Barclays lifted their price target on shares of Western Digital from $80.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Sanford C. Bernstein raised shares of Western Digital to a "hold" rating in a research note on Tuesday, September 16th. Finally, Citigroup raised their price objective on shares of Western Digital from $88.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Seventeen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Western Digital presently has an average rating of "Moderate Buy" and an average price target of $91.47.

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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