Pinnbrook Capital Management LP Purchases Shares of 19,280 Western Digital Corporation $WDC

Key Points

• Pinnbrook Capital Management initiated a Western Digital position of 19,280 shares valued at approximately $12.3 million, making WDC 1.3% of its portfolio. Institutional investors collectively own 92.51% of the company.
• Analysts maintain a generally positive outlook, with Western Digital receiving a consensus “Moderate Buy” rating and an average price target of $534.56, despite some rating changes.
• Western Digital exceeded quarterly expectations with adjusted EPS of $3.56 and revenue of $3.75 billion, while issuing Q1 2027 EPS guidance of $3.85–$4.15. The company also declared a quarterly dividend of $0.15 per share.

Pinnbrook Capital Management LP 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 Securities and Exchange Commission. The firm acquired 19,280 shares of the data storage provider's stock, valued at approximately $12,315,000. Western Digital accounts for 1.3% of Pinnbrook Capital Management LP's holdings, making the stock its 22nd biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in WDC. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Western Digital in the second quarter valued at approximately $28,000. Dunhill Financial LLC acquired a new stake in shares of Western Digital in the 2nd quarter valued at $29,000. Gables Capital Management Inc. purchased a new stake in shares of Western Digital during the 2nd quarter worth $32,000. Ares Financial Consulting LLC grew its stake in shares of Western Digital by 45.5% during the second quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider's stock worth $51,000 after purchasing an additional 25 shares in the last quarter. Finally, Dogwood Wealth Management LLC increased its holdings in Western Digital by 28.6% in the second quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider's stock valued at $57,000 after buying an additional 20 shares during the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Western Digital from $575.00 to $730.00 and gave the stock an "overweight" rating in a research report on Friday, July 10th. Jefferies Financial Group set a $575.00 price target on Western Digital in a report on Tuesday, May 26th. Wall Street Zen cut shares of Western Digital from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 16th. Melius Research set a $1,050.00 price objective on shares of Western Digital and gave the stock a "buy" rating in a research report on Monday, June 29th. Finally, Evercore restated an "outperform" rating and issued a $575.00 target price on shares of Western Digital in a report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $534.56.

Insider Buying and Selling at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the completion of the sale, the insider owned 85,154 shares in the company, valued at $47,366,060.96. This represents a 2.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce E. Kiddoo sold 750 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the sale, the director owned 3,903 shares of the company's stock, valued at approximately $2,062,813.56. This represents a 16.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,679 shares of company stock worth $11,451,605 in the last 90 days. Company insiders own 0.18% of the company's stock.

Western Digital Stock Down 2.0%

Shares of NASDAQ WDC opened at $459.44 on Friday. The business has a 50-day moving average price of $552.24 and a 200 day moving average price of $433.31. The stock has a market cap of $158.36 billion, a PE ratio of 18.98 and a beta of 2.14. Western Digital Corporation has a 52-week low of $74.57 and a 52-week high of $799.87.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $3.56 EPS for the quarter, topping the consensus estimate of $3.31 by $0.25. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.70 billion. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The firm's revenue was up 43.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 earnings per share. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Sell-side analysts anticipate that Western Digital Corporation will post 19.65 earnings per share for the current year.

Western Digital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Western Digital's payout ratio is presently 2.48%.

Western Digital 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.

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