Park Avenue Securities LLC bought a new position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 19,637 shares of the data storage provider's stock, valued at approximately $1,257,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Zions Bancorporation National Association UT bought a new stake in shares of Western Digital during the first quarter worth $29,000. Allworth Financial LP raised its position in shares of Western Digital by 34.1% during the first quarter. Allworth Financial LP now owns 955 shares of the data storage provider's stock worth $38,000 after acquiring an additional 243 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in Western Digital in the first quarter valued at about $40,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Western Digital by 242.2% in the first 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 during the last quarter. Finally, Brooklyn Investment Group increased its holdings in Western Digital by 91.2% in the first quarter. Brooklyn Investment Group now owns 1,279 shares of the data storage provider's stock valued at $52,000 after purchasing an additional 610 shares during the last quarter. Institutional investors own 92.51% of the company's stock.
Western Digital Stock Down 2.3%
Shares of Western Digital stock opened at $107.21 on Friday. Western Digital Corporation has a 1 year low of $28.83 and a 1 year high of $113.75. The business has a 50-day moving average of $83.56 and a two-hundred day moving average of $61.00. The company has a market capitalization of $37.40 billion, a P/E ratio of 20.82, a price-to-earnings-growth ratio of 1.24 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 results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.18. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the prior year, the company earned $1.44 earnings per share. The company's revenue for the quarter was up 30.0% compared to the same quarter last year. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. As a group, equities analysts predict that Western Digital Corporation will post 4.89 EPS for the current year.
Western Digital Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, September 4th. Western Digital's dividend payout ratio is 7.77%.
Wall Street Analyst Weigh In
WDC has been the subject of a number of recent analyst reports. Zacks Research downgraded Western Digital from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. Bank of America upped their price objective on Western Digital from $123.00 to $141.00 and gave the company a "buy" rating in a report on Wednesday. UBS Group upped their price objective on Western Digital from $45.00 to $75.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Sanford C. Bernstein upgraded Western Digital to a "hold" rating in a report on Tuesday, September 16th. Finally, Citigroup upped their price objective on Western Digital from $88.00 to $110.00 and gave the company a "buy" rating in a report on Monday, September 8th. Seventeen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $89.63.
View Our Latest Analysis on WDC
Insiders Place Their Bets
In other Western Digital news, insider Vidyadhara K. Gubbi sold 11,343 shares of the stock in a transaction dated 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 sale, the insider directly owned 151,596 shares in the company, valued at $13,687,602.84. This represents a 6.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cynthia L. Tregillis sold 14,067 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $74.78, for a total value 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 disclosure for this sale can be found here. Insiders have sold 49,730 shares of company stock valued at $3,921,594 over the last ninety days. 0.30% of the stock is owned by insiders.
Western Digital Profile
(
Free Report)
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.
See Also
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