Inspire Investing LLC Has $310,000 Holdings in Western Digital Corporation $WDC

Key Points

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Inspire Investing LLC lifted its holdings in Western Digital Corporation (NASDAQ:WDC - Free Report) by 77.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,662 shares of the data storage provider's stock after buying an additional 3,338 shares during the quarter. Inspire Investing LLC's holdings in Western Digital were worth $310,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strs Ohio acquired a new stake in Western Digital in the 1st quarter valued at about $7,641,000. Geneos Wealth Management Inc. grew its stake in shares of Western Digital by 229.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider's stock valued at $56,000 after purchasing an additional 967 shares during the last quarter. Bluefin Capital Management LLC acquired a new stake in shares of Western Digital in the first quarter valued at approximately $649,000. Empowered Funds LLC raised its position in Western Digital by 1,882.8% in the 1st quarter. Empowered Funds LLC now owns 185,889 shares of the data storage provider's stock worth $7,515,000 after purchasing an additional 176,514 shares during the last quarter. Finally, MBB Public Markets I LLC bought a new position in Western Digital in the 1st quarter worth approximately $284,000. Institutional investors and hedge funds own 92.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WDC shares. Rosenblatt Securities lifted their target price on Western Digital from $53.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. The Goldman Sachs Group initiated coverage on Western Digital in a research report on Thursday, July 10th. They issued a "neutral" rating and a $70.00 price objective for the company. TD Cowen upped their target price on shares of Western Digital from $58.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Bank of America lifted their price target on shares of Western Digital from $100.00 to $123.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Finally, Wedbush boosted their price target on shares of Western Digital from $78.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Western Digital currently has a consensus rating of "Moderate Buy" and an average target price of $88.68.

Insider Activity at Western Digital

In other news, CEO Irving Tan sold 8,621 shares of the company'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 $45,148,052.40. This represents a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Gene M. Zamiska sold 353 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $80.90, for a total transaction of $28,557.70. Following the sale, the senior vice president directly owned 27,425 shares of the company's stock, valued at $2,218,682.50. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,730 shares of company stock valued at $3,921,594. Corporate insiders own 0.30% of the company's stock.

Western Digital Trading Up 5.4%

Shares of WDC traded up $5.78 during trading hours on Monday, reaching $112.41. The stock had a trading volume of 9,679,566 shares, compared to its average volume of 8,517,338. The company has a market cap of $39.22 billion, a P/E ratio of 21.83, a P/E/G ratio of 1.20 and a beta of 1.69. Western Digital Corporation has a 52 week low of $28.83 and a 52 week high of $112.83. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average of $81.04 and a 200 day moving average of $59.85.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the previous year, the firm earned $1.44 earnings per share. The company's revenue was up 30.0% on a year-over-year basis. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. On average, sell-side analysts expect that Western Digital Corporation will post 4.89 earnings per share for the current fiscal year.

Western Digital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date was Thursday, September 4th. Western Digital's dividend payout ratio (DPR) is 7.77%.

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.