MBB Public Markets I LLC Takes Position in Western Digital Corporation $WDC

Key Points

• MBB Public Markets I LLC has acquired approximately $284,000 worth of Western Digital Corporation shares, totaling 7,029 shares during the first quarter.
• Analysts have raised price targets for Western Digital, with Barclays increasing it to $105.00 and Citigroup to $110.00, reflecting an overall positive sentiment toward the stock.
• Western Digital recently reported a quarterly earnings per share (EPS) of $1.66, exceeding estimates by $0.18, with revenue growth of 30% year-over-year.

MBB Public Markets I LLC purchased a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,029 shares of the data storage provider's stock, valued at approximately $284,000.

A number of other institutional investors have also made changes to their positions in the business. Allworth Financial LP raised its holdings in Western Digital by 34.1% during the 1st quarter. Allworth Financial LP now owns 955 shares of the data storage provider's stock worth $38,000 after purchasing an additional 243 shares during the last quarter. Truvestments Capital LLC raised its holdings in 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 purchasing an additional 261 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Western Digital by 4.5% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,080 shares of the data storage provider's stock worth $246,000 after purchasing an additional 263 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 purchasing an additional 264 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Western Digital by 17.0% during the 1st 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 during the last quarter. 92.51% of the stock is owned by institutional investors.

Western Digital Price Performance

Shares of NASDAQ:WDC traded down $3.13 on Wednesday, hitting $99.96. The company's stock had a trading volume of 2,358,341 shares, compared to its average volume of 7,925,642. The company has a 50-day simple moving average of $77.79 and a 200 day simple moving average of $58.00. Western Digital Corporation has a 1 year low of $28.83 and a 1 year high of $103.98. The company has a market capitalization of $34.87 billion, a PE ratio of 19.41, a PEG ratio of 1.23 and a beta of 1.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84.

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

Western Digital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders 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 of this dividend is Thursday, September 4th. Western Digital's payout ratio is 7.77%.

Insider Buying and Selling

In other news, insider Cynthia L. Tregillis sold 14,067 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the transaction, the insider directly owned 135,351 shares of the company's stock, valued at $10,121,547.78. This represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Gene M. Zamiska sold 353 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $80.90, for a total value of $28,557.70. Following the completion of the transaction, the senior vice president directly owned 27,425 shares in the company, valued at approximately $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 ninety days, insiders sold 49,730 shares of company stock valued at $3,921,594. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Susquehanna boosted their target price on Western Digital from $40.00 to $62.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Zacks Research lowered Western Digital from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. Morgan Stanley boosted their target price on Western Digital from $92.00 to $99.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Wedbush boosted their target price on Western Digital from $78.00 to $90.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Mizuho boosted their target price on Western Digital from $75.00 to $87.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $86.95.

Western Digital Company 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.