Lifestyle Asset Management Inc. Takes $1.33 Million Position in Western Digital Corporation $WDC

Key Points

• Lifestyle Asset Management Inc. has acquired a new stake in Western Digital Corporation valued at approximately $1.33 million by purchasing 20,812 shares.
• Analysts have responded positively with several boosting their price targets, with the average target now at $86.44, reflecting strong expectations for the company's growth.
• Western Digital has declared a $0.10 quarterly dividend, to be paid on September 18th, indicating a consistent return of value to its shareholders amid a market capitalization of $35.72 billion.

Lifestyle Asset Management Inc. acquired a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 20,812 shares of the data storage provider's stock, valued at approximately $1,332,000.

Other hedge funds also recently modified their holdings of the company. Elequin Capital LP bought a new stake in shares of Western Digital in the 4th quarter valued at $40,000. Zions Bancorporation National Association UT bought a new stake in Western Digital during the 1st quarter valued at $29,000. Allworth Financial LP increased its stake in Western Digital by 34.1% during the 1st quarter. Allworth Financial LP now owns 955 shares of the data storage provider's stock valued at $38,000 after purchasing an additional 243 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in Western Digital during the 1st quarter valued at $40,000. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Western Digital by 242.2% during the 1st 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 in the last quarter. Institutional investors own 92.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on WDC shares. UBS Group boosted their price target on shares of Western Digital from $45.00 to $75.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Sanford C. Bernstein started coverage on shares of Western Digital in a research note on Monday. They set a "market perform" rating for the company. Susquehanna boosted their price target on shares of Western Digital from $40.00 to $62.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Morgan Stanley boosted their price target on shares of Western Digital from $92.00 to $99.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Finally, Rosenblatt Securities boosted their price target on shares of Western Digital from $53.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $86.44.

Insider Activity at Western Digital

In related news, CEO Irving Tan sold 8,621 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $75.90, for a total value of $654,333.90. Following the transaction, the chief executive officer directly owned 594,836 shares of the company's stock, valued at approximately $45,148,052.40. The trade was a 1.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Gene M. Zamiska sold 3,160 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $75.68, for a total transaction of $239,148.80. Following the completion of the transaction, the senior vice president directly owned 31,560 shares in the company, valued at $2,388,460.80. This trade represents a 9.10% 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 valued at $3,921,594 over the last quarter. Corporate insiders own 0.30% of the company's stock.

Western Digital Stock Performance

NASDAQ WDC opened at $102.39 on Tuesday. Western Digital Corporation has a 1 year low of $28.83 and a 1 year high of $103.78. 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 has a market cap of $35.72 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 1.17 and a beta of 1.69. The company has a fifty day moving average price of $77.01 and a 200-day moving average price of $57.69.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share 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%. The firm's quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. As a group, equities research analysts predict that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 4th. Western Digital's payout ratio is 7.77%.

Western Digital Profile

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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