Landscape Capital Management L.L.C. Makes New $4.23 Million Investment in Western Digital Corporation $WDC

Key Points

• Landscape Capital Management acquired 6,616 Western Digital shares worth approximately $4.23 million during the second quarter. Institutional investors collectively own 92.51% of the company.
• Western Digital exceeded quarterly expectations, reporting $3.56 in EPS and $3.75 billion in revenue, with revenue up 43.8% year over year. The company guided for fiscal Q1 2027 EPS of $3.85–$4.15.
• Analysts maintain a generally bullish outlook, with a consensus rating of “Moderate Buy” and an average price target of $534.56, while company insiders have sold about $11.45 million in stock over the past three months.

Landscape Capital Management L.L.C. acquired a new position in Western Digital Corporation (NASDAQ:WDC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,616 shares of the data storage provider's stock, valued at approximately $4,226,000.

A number of other large investors have also recently made changes to their positions in WDC. Norges Bank bought a new position in shares of Western Digital during the 4th quarter valued at approximately $788,729,000. Soroban Capital Partners LP lifted its holdings in Western Digital by 1,926.3% during the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider's stock valued at $195,882,000 after purchasing an additional 2,910,062 shares in the last quarter. Polar Capital Holdings Plc purchased a new position in Western Digital during the third quarter valued at approximately $221,800,000. Deutsche Bank AG bought a new position in shares of Western Digital in the second quarter worth approximately $885,565,000. Finally, Value Aligned Research Advisors LLC bought a new position in shares of Western Digital in the first quarter worth approximately $350,403,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Western Digital

In other Western Digital news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total value of $8,899,400.00. Following the completion of the transaction, the chief executive officer directly owned 575,966 shares of the company's stock, valued at $256,287,591.02. This trade represents a 3.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the completion of the sale, the insider owned 85,154 shares in the company, valued at approximately $47,366,060.96. This trade represents a 2.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,679 shares of company stock worth $11,451,605 over the last three months. 0.18% of the stock is owned by company insiders.

Western Digital Price Performance

Western Digital stock opened at $459.44 on Friday. Western Digital Corporation has a 1 year low of $74.57 and a 1 year high of $799.87. The firm's 50 day moving average price is $552.24 and its 200-day moving average price is $433.31. The stock has a market cap 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 issued its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share for the quarter, topping analysts' consensus estimates of $3.31 by $0.25. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.70 billion. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. Western Digital's revenue for the quarter was up 43.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.66 earnings per share. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. As a group, equities analysts expect that Western Digital Corporation will post 19.65 EPS for the current year.

Western Digital Dividend Announcement

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

Analyst Ratings Changes

WDC has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Western Digital from $575.00 to $730.00 and gave the company an "overweight" rating in a research report on Friday, July 10th. Melius Research set a $1,050.00 target price on shares of Western Digital and gave the stock a "buy" rating in a report on Monday, June 29th. JPMorgan Chase & Co. increased their price target on Western Digital from $530.00 to $650.00 and gave the stock an "overweight" rating in a research note on Friday, June 12th. Bank of America raised their price target on Western Digital from $610.00 to $732.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Finally, Evercore restated an "outperform" rating and issued a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Western Digital presently has an average rating of "Moderate Buy" and a consensus target price of $534.56.

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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