Headlands Technologies LLC Purchases Shares of 3,957 Western Digital Corporation $WDC

Headlands Technologies LLC purchased a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,957 shares of the data storage provider's stock, valued at approximately $2,527,000.

Other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. boosted its stake in Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 407 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Western Digital in the second quarter valued at approximately $28,000. Dunhill Financial LLC bought a new stake in shares of Western Digital in the second quarter valued at approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Western Digital in the second quarter worth $31,000. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Western Digital in the first quarter worth $32,000. 92.51% of the stock is currently owned by institutional investors.

Western Digital News Summary

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: Western Digital’s long-term outlook remains supported by demand for AI infrastructure, cloud computing, enterprise storage, automotive systems and other data-intensive applications. Analysts at Zacks continue to identify WDC as a potential beneficiary of strong memory and storage demand, particularly following Nvidia’s solid results. 4 High-Flying Memory and Storage Giants
• Positive Sentiment: The company’s latest quarterly results provide fundamental support: revenue rose 43.8% year over year to $3.75 billion, while earnings of $3.56 per share exceeded expectations. Guidance for $3.85 to $4.15 in next-quarter EPS also remains constructive.
• Positive Sentiment: Wall Street’s consensus remains bullish, with a “Moderate Buy” rating and an average price target above the current trading level. Several firms have cited continued AI and storage demand as reasons for further upside. Wall Street’s Bullish Views on WDC
• Neutral Sentiment: Insider Cynthia Tregillis sold a small portion of her holdings under a pre-arranged Rule 10b5-1 trading plan. The transactions modestly reduce her position but do not necessarily signal deteriorating confidence. Cynthia Tregillis Insider Transactions
• Negative Sentiment: Memory and storage stocks sold off even after Nvidia reported strong results, suggesting investors are taking profits from an extended AI trade and differentiating among suppliers. Western Digital’s underperformance versus peers has amplified concern that expectations or valuation may have become too aggressive. Why Memory Stocks Fell Despite Nvidia’s Results

Insider Activity

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the completion of the transaction, the chief executive officer owned 575,966 shares in the company, valued at $256,287,591.02. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 1,007 shares of Western Digital stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $478.36, for a total value of $481,708.52. Following the sale, the insider directly owned 112,155 shares in the company, valued at $53,650,465.80. The trade was a 0.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 23,642 shares of company stock valued at $10,676,659 in the last three months. Company insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Zacks Research upgraded shares of Western Digital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. Citigroup dropped their price objective on shares of Western Digital from $800.00 to $740.00 and set a "buy" rating on the stock in a report on Friday, August 7th. UBS Group cut their price objective on shares of Western Digital from $560.00 to $525.00 and set a "neutral" rating for the company in a research report on Thursday, August 6th. Melius Research set a $1,050.00 target price on shares of Western Digital and gave the company a "buy" rating in a research note on Monday, June 29th. Finally, Mizuho set a $590.00 target price on Western Digital in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $534.56.

Western Digital Price Performance

WDC opened at $459.45 on Monday. Western Digital Corporation has a fifty-two week low of $77.90 and a fifty-two week high of $799.87. The firm's fifty day moving average price is $526.99 and its two-hundred day moving average price is $440.71. The company has a market capitalization of $158.36 billion, a P/E ratio of 18.98 and a beta of 2.14.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.25. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the firm posted $1.66 EPS. The business's revenue for the quarter was up 43.8% on a year-over-year basis. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. On average, equities research analysts expect that Western Digital Corporation will post 19.65 EPS for the current fiscal year.

Western Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, September 8th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Western Digital's payout ratio is presently 2.48%.

About Western Digital

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.

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