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 acquired a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 7,029 shares of the data storage provider's stock, valued at approximately $284,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WDC. Captrust Financial Advisors lifted its stake in shares of Western Digital by 4.4% in the 4th quarter. Captrust Financial Advisors now owns 11,674 shares of the data storage provider's stock valued at $696,000 after purchasing an additional 497 shares during the period. Cetera Investment Advisers raised its stake in Western Digital by 2.7% during the 4th quarter. Cetera Investment Advisers now owns 28,431 shares of the data storage provider's stock worth $1,695,000 after buying an additional 756 shares during the period. Focus Partners Wealth raised its stake in Western Digital by 101.9% during the 4th quarter. Focus Partners Wealth now owns 8,743 shares of the data storage provider's stock worth $521,000 after buying an additional 4,412 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Western Digital by 4.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,969 shares of the data storage provider's stock worth $2,324,000 after buying an additional 1,572 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its stake in Western Digital by 20.4% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 13,604 shares of the data storage provider's stock worth $811,000 after buying an additional 2,309 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Barclays upped their price target on Western Digital from $80.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday. Citigroup upped their price target on Western Digital from $88.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday. Susquehanna upped their price target on Western Digital from $40.00 to $62.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. TD Cowen upped their price target on Western Digital from $58.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Wells Fargo & Company boosted their price objective on Western Digital from $80.00 to $95.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $81.89.

Western Digital Stock Performance

Shares of WDC opened at $96.15 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.08. The stock has a 50 day moving average price of $75.63 and a two-hundred day moving average price of $56.87. The firm has a market capitalization of $33.54 billion, a P/E ratio of 18.67, a P/E/G ratio of 1.14 and a beta of 1.69. Western Digital Corporation has a 52 week low of $28.83 and a 52 week high of $97.78.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The company's revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 EPS. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. Equities analysts forecast that Western Digital Corporation will post 4.89 earnings per share for the current fiscal year.

Western Digital Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Vidyadhara K. Gubbi sold 11,343 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $90.29, for a total value of $1,024,159.47. Following the completion of the transaction, the insider directly owned 151,596 shares of the company's stock, valued at $13,687,602.84. This represents a 6.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Irving Tan sold 8,621 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $75.90, for a total value of $654,333.90. Following the completion of the transaction, the chief executive officer directly owned 594,836 shares of the company's stock, valued at approximately $45,148,052.40. This represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,975 shares of company stock valued at $3,935,806. Insiders own 0.30% of the company's stock.

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.

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