IFM Investors Pty Ltd Has $4.04 Million Stake in Western Digital Corporation $WDC

Key Points

• IFM Investors Pty Ltd increased its stake in Western Digital Corporation by 5.9%, now holding 63,133 shares valued at approximately $4.04 million.
• Wall Street analysts have raised their price targets for Western Digital, with estimates ranging from $62.00 to $120.00, reflecting a consensus target price of $88.68.
• The company recently declared a quarterly dividend of $0.10, representing an annual yield of 0.4%, while maintaining a dividend payout ratio of 7.77%.

IFM Investors Pty Ltd grew its position in Western Digital Corporation (NASDAQ:WDC - Free Report) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,133 shares of the data storage provider's stock after acquiring an additional 3,514 shares during the quarter. IFM Investors Pty Ltd's holdings in Western Digital were worth $4,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Zions Bancorporation National Association UT purchased a new stake in Western Digital in the first quarter worth about $29,000. Allworth Financial LP lifted its position in Western Digital by 34.1% during the 1st quarter. Allworth Financial LP now owns 955 shares of the data storage provider's stock worth $38,000 after acquiring an additional 243 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in Western Digital during the 1st quarter valued at approximately $40,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Western Digital by 242.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,208 shares of the data storage provider's stock valued at $49,000 after purchasing an additional 855 shares during the last quarter. Finally, Brooklyn Investment Group grew its stake in shares of Western Digital by 91.2% during the 1st quarter. Brooklyn Investment Group now owns 1,279 shares of the data storage provider's stock worth $52,000 after purchasing an additional 610 shares during the period. Institutional investors own 92.51% of the company's stock.

Western Digital Stock Performance

Shares of Western Digital stock traded up $5.78 during trading on Monday, hitting $112.41. 9,679,566 shares of the stock were exchanged, compared to its average volume of 8,517,338. 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's fifty day moving average is $81.04 and its 200 day moving average is $59.85. The stock has a market cap of $39.22 billion, a PE ratio of 21.83, a P/E/G ratio of 1.20 and a beta of 1.69. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $112.83.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The business's revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.44 EPS. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. As a group, sell-side analysts anticipate that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Dividend Announcement

The firm also recently announced 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 0.4%. The ex-dividend date of this dividend was Thursday, September 4th. Western Digital's payout ratio is 7.77%.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 353 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $80.90, for a total transaction of $28,557.70. Following the completion of the transaction, the senior vice president directly owned 27,425 shares in the company, valued at $2,218,682.50. This represents a 1.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Vidyadhara K. Gubbi sold 11,343 shares of Western Digital stock in a transaction 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 transaction, the insider directly owned 151,596 shares of the company's stock, valued at approximately $13,687,602.84. The trade was a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,730 shares of company stock worth $3,921,594 in the last ninety days. Company insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

WDC has been the subject of several research reports. Susquehanna boosted their price target on Western Digital from $40.00 to $62.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. The Goldman Sachs Group assumed coverage on shares of Western Digital in a report on Thursday, July 10th. They set a "neutral" rating and a $70.00 price target for the company. Barclays raised their price target on Western Digital from $80.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Bank of America increased their target price on shares of Western Digital from $100.00 to $123.00 and gave the company a "buy" rating in a report on Monday, September 15th. Finally, Citigroup boosted their target price on Western Digital from $88.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Western Digital presently has a consensus rating of "Moderate Buy" and an average price target of $88.68.

About Western Digital

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.