Lbp Am Sa Makes New $641,000 Investment in Western Digital Corporation $WDC

Key Points

• Lbp Am Sa purchased a new stake in Western Digital (WDC) during Q3 of 5,335 shares valued at approximately $641,000 per its latest Form 13F filing.
• Western Digital beat quarterly EPS and revenue estimates (EPS $1.78 vs. $1.57 est.; revenue up 27.4% year-over-year), and the stock trades near its 52-week high ($284) with a market cap of about $95.6 billion and a consensus "Moderate Buy" target of $207.48.
• Institutional ownership is very high at 92.51%, while insiders have been net sellers—26,816 shares sold (~$4.12M) in the past 90 days and insiders now own just 0.18% of the company.

Lbp Am Sa purchased a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,335 shares of the data storage provider's stock, valued at approximately $641,000.

A number of other institutional investors also recently modified their holdings of the business. Pure Financial Advisors LLC grew its stake in Western Digital by 3.1% in the 3rd quarter. Pure Financial Advisors LLC now owns 3,583 shares of the data storage provider's stock valued at $430,000 after buying an additional 107 shares in the last quarter. Bogart Wealth LLC grew its position in shares of Western Digital by 57.7% in the third quarter. Bogart Wealth LLC now owns 309 shares of the data storage provider's stock valued at $37,000 after purchasing an additional 113 shares in the last quarter. Dynamic Advisor Solutions LLC grew its position in shares of Western Digital by 3.0% in the third quarter. Dynamic Advisor Solutions LLC now owns 3,871 shares of the data storage provider's stock valued at $465,000 after purchasing an additional 114 shares in the last quarter. ORG Partners LLC raised its stake in shares of Western Digital by 124.5% during the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider's stock valued at $25,000 after purchasing an additional 117 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its holdings in Western Digital by 4.2% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,993 shares of the data storage provider's stock worth $359,000 after purchasing an additional 120 shares in the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Stock Performance

NASDAQ WDC opened at $279.70 on Thursday. Western Digital Corporation has a 52-week low of $28.83 and a 52-week high of $284.00. The company has a fifty day moving average of $188.62 and a 200-day moving average of $134.34. The company has a market capitalization of $95.63 billion, a P/E ratio of 40.71, a P/E/G ratio of 1.20 and a beta of 1.78. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.94 and a current ratio of 1.21.

Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Thursday, October 30th. The data storage provider reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.21. Western Digital had a return on equity of 30.89% and a net margin of 21.37%.The business had revenue of $2.82 billion for the quarter, compared to analysts' expectations of $2.72 billion. During the same quarter in the prior year, the firm earned $1.78 earnings per share. The firm's revenue was up 27.4% on a year-over-year basis. As a group, equities research analysts predict that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WDC shares. Wedbush upped their price target on Western Digital from $90.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, October 16th. Barclays reaffirmed an "overweight" rating and set a $240.00 target price on shares of Western Digital in a report on Thursday, January 15th. Zacks Research raised shares of Western Digital from a "hold" rating to a "strong-buy" rating in a report on Monday, October 13th. Robert W. Baird set a $180.00 price target on shares of Western Digital in a report on Friday, October 31st. Finally, UBS Group increased their price objective on Western Digital from $145.00 to $230.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $207.48.

Trending Headlines about Western Digital

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

• Positive Sentiment: Investors lifted WDC after Seagate reported a strong Q2 that signaled robust demand for datacenter drives and helped re-rate storage peers. Why Western Digital Stock Soared Today
• Positive Sentiment: Same-day coverage: Benzinga highlights Seagate’s results as the proximate trigger for WDC buying, with investors rotating into peers. Western Digital Stock Rises On Seagate's Strong Q2 Results
• Positive Sentiment: High-profile endorsement: Jim Cramer and other commentators pointed to persistent shortages and expect Western Digital’s upcoming quarter to be “very positive,” supporting sentiment. Jim Cramer Expects Western Digital’s Quarter to Be “Very Positive”
• Positive Sentiment: Industry supply tightness: coverage citing a DRAM/NAND “supercycle” and price strength underpins profit outlooks for Western Digital and peers. That fundamental backdrop helps justify the rally. 4 Memory Chip Stocks to Buy as Prices Skyrocket
• Positive Sentiment: New products for investors: launch of ETFs and 2x leveraged funds tied to Sandisk/Western Digital increases retail and thematic flows into the stock. Tradr Debuts Leveraged ETFs on Lumentum, Sandisk and Western Digital
• Neutral Sentiment: Analyst context: some research (Zacks) flags Micron as a potentially better value/ride on AI-driven memory demand, which could divert relative investor interest away from WDC. Western Digital vs. Micron: Which Data Storage Stock Has More Upside?
• Negative Sentiment: Mean-reversion risk: multiple pieces note WDC (and SanDisk) are up roughly 400% over the past year — that sharp run raises pullback and profit-taking risk despite strong fundamentals. SanDisk and Western Digital are up 400 in 1 Year. Should You Still Buy?

Insider Transactions at Western Digital

In related news, insider Cynthia L. Tregillis sold 2,801 shares of the firm's stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $160.57, for a total transaction of $449,756.57. Following the transaction, the insider directly owned 144,596 shares of the company's stock, valued at approximately $23,217,779.72. This trade represents a 1.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kimberly Alexy sold 1,768 shares of the business's stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $154.00, for a total value of $272,272.00. Following the completion of the sale, the director owned 3,585 shares of the company's stock, valued at $552,090. The trade was a 33.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,816 shares of company stock valued at $4,116,148 over the last 90 days. Company insiders own 0.18% of the company's stock.

Western Digital Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.