Pure Financial Advisors LLC Invests $222,000 in Western Digital Corporation $WDC

Key Points

• Pure Financial Advisors LLC has invested approximately $222,000 in Western Digital Corporation (WDC), acquiring 3,476 shares in the second quarter.
• Western Digital recently declared a quarterly dividend of $0.10 per share, reflecting an annualized yield of 0.3%.
• Several brokerages have raised their price targets for WDC, with Rosenblatt Securities increasing it from $90.00 to $125.00, reflecting a positive outlook for the stock.

Pure Financial Advisors LLC acquired a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,476 shares of the data storage provider's stock, valued at approximately $222,000.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. raised its position in shares of Western Digital by 6.2% in the 2nd quarter. UMB Bank n.a. now owns 3,465 shares of the data storage provider's stock valued at $222,000 after acquiring an additional 202 shares during the period. Allworth Financial LP boosted 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 purchasing an additional 243 shares in the last quarter. Truvestments Capital LLC grew its holdings in shares of Western Digital by 11.7% in the 1st quarter. Truvestments Capital LLC now owns 2,483 shares of the data storage provider's stock valued at $100,000 after buying an additional 261 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Western Digital by 4.5% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,080 shares of the data storage provider's stock valued at $246,000 after buying an additional 263 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake 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 buying an additional 264 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Western Digital news, insider Vidyadhara K. Gubbi sold 11,343 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $90.29, for a total transaction of $1,024,159.47. Following the sale, the insider directly owned 151,596 shares of the company's stock, valued at approximately $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 through this hyperlink. Also, CEO Irving Tan sold 8,621 shares of Western Digital stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $75.90, for a total transaction 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 trade represents a 1.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,730 shares of company stock worth $3,921,594. 0.30% of the stock is currently owned by company insiders.

Western Digital Stock Performance

Shares of WDC opened at $131.31 on Friday. The stock has a market capitalization of $45.81 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 1.10 and a beta of 1.77. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $137.40. The firm has a fifty day simple moving average of $90.08 and a 200 day simple moving average of $64.42. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The data storage provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.48 by $0.18. The firm had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.45 billion. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. 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 firm posted $1.44 EPS. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. Research analysts forecast that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. Western Digital's payout ratio is 7.77%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WDC. Rosenblatt Securities increased their price target on Western Digital from $90.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, September 29th. Morgan Stanley raised their target price on shares of Western Digital from $92.00 to $99.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Barclays lifted their price target on shares of Western Digital from $80.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Wedbush increased their price objective on shares of Western Digital from $78.00 to $90.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Susquehanna raised their price objective on shares of Western Digital from $40.00 to $62.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $91.47.

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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