Range Financial Group LLC Purchases Shares of 11,213 Western Digital Corporation $WDC

Key Points

• Range Financial Group LLC has acquired 11,213 shares of Western Digital Corporation during the second quarter, worth approximately $718,000.
• Insider sales included CEO Irving Tan selling 8,621 shares, reducing his stake by 1.43%, while the company declared a quarterly dividend of $0.10 per share.
• Western Digital's share price has risen by 4.8%, with analysts projecting an EPS of 4.89 for the current fiscal year and raising price targets significantly across major firms.

Range Financial Group LLC purchased a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,213 shares of the data storage provider's stock, valued at approximately $718,000.

Other large investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Western Digital by 52.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,838 shares of the data storage provider's stock valued at $1,166,000 after purchasing an additional 9,974 shares during the period. Parsifal Capital Management LP increased its stake in shares of Western Digital by 32.0% in the first quarter. Parsifal Capital Management LP now owns 897,574 shares of the data storage provider's stock valued at $36,289,000 after purchasing an additional 217,574 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of Western Digital in the first quarter valued at approximately $35,406,000. Asset Management One Co. Ltd. increased its stake in shares of Western Digital by 5.1% in the first quarter. Asset Management One Co. Ltd. now owns 144,307 shares of the data storage provider's stock valued at $5,834,000 after purchasing an additional 6,947 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Western Digital by 6.8% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 89,244 shares of the data storage provider's stock valued at $3,608,000 after purchasing an additional 5,711 shares during the period. Institutional investors and hedge funds own 92.51% of the company's stock.

Insider Activity

In related news, CEO Irving Tan sold 8,621 shares of the firm'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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Gene M. Zamiska sold 3,160 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $75.68, for a total transaction of $239,148.80. Following the completion of the transaction, the senior vice president directly owned 31,560 shares of the company's stock, valued at $2,388,460.80. This represents a 9.10% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,730 shares of company stock worth $3,921,594. Company insiders own 0.30% of the company's stock.

Western Digital Trading Up 4.8%

Shares of NASDAQ:WDC opened at $102.39 on Tuesday. The stock has a market capitalization of $35.72 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 1.17 and a beta of 1.69. Western Digital Corporation has a 1-year low of $28.83 and a 1-year high of $103.78. 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 company has a 50 day moving average price of $77.01 and a 200 day moving average price of $57.69.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share 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 analysts' expectations of $2.45 billion. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. The firm'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 earnings per share. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. On average, research analysts anticipate that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. Western Digital's dividend payout ratio (DPR) is currently 7.77%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WDC. Susquehanna raised their price objective on shares of Western Digital from $40.00 to $62.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Barclays raised their price objective 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. Mizuho raised their price objective on shares of Western Digital from $75.00 to $87.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. UBS Group raised their price objective on shares of Western Digital from $45.00 to $75.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Bank of America raised their price objective on shares of Western Digital from $100.00 to $123.00 and gave the company a "buy" rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $86.44.

About Western Digital

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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