Integrated Wealth Concepts LLC Grows Position in Western Digital Corporation $WDC

Key Points

• Integrated Wealth Concepts LLC increased its holdings in Western Digital Corporation by 252.7% during the first quarter, owning 15,839 shares worth $640,000.
• Western Digital reported $1.66 EPS for the quarter, exceeding analysts' estimates and achieving a revenue of $2.61 billion, a 30% increase year-over-year.
• The company recently declared a quarterly dividend of $0.10, with a yield of 0.4%, to be paid to investors of record on September 4th.

Integrated Wealth Concepts LLC increased its position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 252.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,839 shares of the data storage provider's stock after buying an additional 11,348 shares during the period. Integrated Wealth Concepts LLC's holdings in Western Digital were worth $640,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in Western Digital by 34.1% during the first quarter. Allworth Financial LP now owns 955 shares of the data storage provider's stock worth $38,000 after buying an additional 243 shares in the last quarter. Truvestments Capital LLC boosted its stake in shares of Western Digital by 11.7% during the 1st quarter. Truvestments Capital LLC now owns 2,483 shares of the data storage provider's stock worth $100,000 after acquiring an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Western Digital by 0.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,395 shares of the data storage provider's stock worth $1,835,000 after acquiring an additional 264 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Western Digital by 17.0% during the first quarter. Advisors Asset Management Inc. now owns 2,059 shares of the data storage provider's stock worth $83,000 after purchasing an additional 299 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in Western Digital by 2.1% during the first quarter. Blair William & Co. IL now owns 19,523 shares of the data storage provider's stock worth $789,000 after purchasing an additional 399 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Price Performance

Shares of WDC stock opened at $97.66 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84. The firm's 50-day moving average is $76.27 and its two-hundred day moving average is $57.20. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $98.86. The company has a market capitalization of $34.07 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.16 and a beta of 1.69.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.48 by $0.18. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. Western Digital's quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 earnings per share. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. Analysts predict that Western Digital Corporation will post 4.89 earnings per share for the current year.

Western Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date is Thursday, September 4th. Western Digital's payout ratio is 7.77%.

Analyst Ratings Changes

Several equities analysts have issued reports on WDC shares. Zacks Research raised shares of Western Digital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Morgan Stanley raised their price objective on Western Digital from $92.00 to $99.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. TD Cowen raised their price target on shares of Western Digital from $58.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Susquehanna raised their price target on shares of Western Digital from $40.00 to $62.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Finally, Barclays raised their target price on shares of Western Digital from $80.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $81.89.

Insider Activity at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 11,343 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 151,596 shares in the company, valued at approximately $13,687,602.84. The trade was a 6.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cynthia L. Tregillis sold 14,067 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the completion of the sale, the insider directly owned 135,351 shares in the company, valued at $10,121,547.78. This trade represents a 9.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,975 shares of company stock valued at $3,935,806 in the last quarter. Corporate insiders own 0.30% of the company's stock.

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.

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