HB Wealth Management LLC Reduces Stock Position in Western Digital Corporation $WDC

Key Points

• HB Wealth Management LLC has reduced its holdings in Western Digital Corporation by 23.2%, owning 6,406 shares valued at approximately $410,000 after selling 1,930 shares in the second quarter.
• Several institutional investors have increased their stakes in Western Digital, with Parsifal Capital Management raising its stake by 32.0% and Wealth Enhancement Advisory Services increasing theirs by 52.9% in the first quarter.
• Analysts have given Western Digital a consensus rating of "Moderate Buy" and a target price of $91.47, with recent upgrades from firms like Mizuho raising the price objective from $87.00 to $120.00.

HB Wealth Management LLC lessened its holdings in Western Digital Corporation (NASDAQ:WDC - Free Report) by 23.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,406 shares of the data storage provider's stock after selling 1,930 shares during the quarter. HB Wealth Management LLC's holdings in Western Digital were worth $410,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Parsifal Capital Management LP increased its stake in Western Digital by 32.0% in the 1st quarter. Parsifal Capital Management LP now owns 897,574 shares of the data storage provider's stock worth $36,289,000 after buying an additional 217,574 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Western Digital by 52.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,838 shares of the data storage provider's stock worth $1,166,000 after acquiring an additional 9,974 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Western Digital during the first quarter worth approximately $35,406,000. Asset Management One Co. Ltd. increased its position in shares of Western Digital by 5.1% during the first quarter. Asset Management One Co. Ltd. now owns 144,307 shares of the data storage provider's stock worth $5,834,000 after acquiring an additional 6,947 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Western Digital by 6.8% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 89,244 shares of the data storage provider's stock valued at $3,608,000 after acquiring an additional 5,711 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on WDC. Sanford C. Bernstein upgraded Western Digital to a "hold" rating in a report on Tuesday, September 16th. Mizuho upped their price objective on shares of Western Digital from $87.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, September 19th. The Goldman Sachs Group began coverage on shares of Western Digital in a report on Thursday, July 10th. They set a "neutral" rating and a $70.00 target price on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Western Digital in a report on Saturday, September 27th. Finally, UBS Group upped their price target on shares of Western Digital from $45.00 to $75.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Seventeen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.47.

Insider Buying and Selling at Western Digital

In other Western Digital news, CEO Irving Tan sold 8,621 shares of the company's stock in a transaction 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 sale, the chief executive officer directly owned 594,836 shares of the company's stock, valued at approximately $45,148,052.40. This represents a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cynthia L. Tregillis sold 14,067 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $74.78, for a total value of $1,051,930.26. Following the sale, the insider directly owned 135,351 shares in the company, valued at $10,121,547.78. This represents a 9.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,730 shares of company stock valued at $3,921,594 over the last quarter. Insiders own 0.30% of the company's stock.

Western Digital Stock Performance

Shares of WDC opened at $131.31 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.08. The stock has a 50-day moving average of $90.08 and a two-hundred day moving average of $64.56. The stock has a market cap of $45.81 billion, a P/E ratio of 25.50, a P/E/G ratio of 1.10 and a beta of 1.77. Western Digital Corporation has a one year low of $28.83 and a one year high of $137.40.

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 (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 firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.45 billion. During the same period last year, the business 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, research analysts predict that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, September 4th. Western Digital's payout ratio is presently 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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