Retireful LLC Trims Stock Holdings in Western Digital Corporation $WDC

Key Points

• Retireful LLC reduced its Western Digital stake by 36% in the second quarter, selling 2,883 shares and retaining 5,121 shares valued at $3.27 million. Institutional investors collectively own 92.51% of WDC.
• Analysts maintain a generally bullish outlook, with a consensus “Moderate Buy” rating and an average price target of $534.56, despite some target-price changes.
• Western Digital exceeded quarterly expectations with $3.56 in earnings per share and $3.75 billion in revenue, representing 43.8% year-over-year revenue growth. The company also declared a quarterly dividend of $0.15 per share.

Retireful LLC lessened its position in Western Digital Corporation (NASDAQ:WDC - Free Report) by 36.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,121 shares of the data storage provider's stock after selling 2,883 shares during the period. Western Digital accounts for about 3.1% of Retireful LLC's portfolio, making the stock its 4th biggest holding. Retireful LLC's holdings in Western Digital were worth $3,271,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WDC. Rakuten Securities Inc. grew its holdings in shares of Western Digital by 4,070.0% during the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock worth $27,000 after purchasing an additional 407 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new position in Western Digital in the 2nd quarter valued at approximately $28,000. Dunhill Financial LLC acquired a new stake in Western Digital during the 2nd quarter worth approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Western Digital during the 2nd quarter worth approximately $31,000. Finally, Valley Wealth Managers Inc. bought a new stake in Western Digital during the 1st quarter worth approximately $32,000. 92.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WDC has been the subject of several analyst reports. Citigroup dropped their price target on shares of Western Digital from $800.00 to $740.00 and set a "buy" rating for the company in a research note on Friday, August 7th. Bank of America boosted their price objective on shares of Western Digital from $610.00 to $732.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Melius Research set a $1,050.00 target price on Western Digital and gave the stock a "buy" rating in a research report on Monday, June 29th. Morgan Stanley reaffirmed an "overweight" rating and set a $676.00 target price on shares of Western Digital in a report on Thursday, August 6th. Finally, Evercore restated an "outperform" rating and set a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $534.56.

Western Digital Stock Down 0.3%

WDC stock opened at $448.90 on Thursday. The firm has a market cap of $154.73 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.91 and a beta of 2.13. Western Digital Corporation has a 12-month low of $83.34 and a 12-month high of $799.87. The company's fifty day simple moving average is $513.08 and its 200 day simple moving average is $444.44.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share for the quarter, topping analysts' consensus estimates of $3.31 by $0.25. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period last year, the business posted $1.66 EPS. The business's revenue was up 43.8% compared to the same quarter last year. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Research analysts expect 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. Shareholders 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 yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital's payout ratio is presently 2.48%.

Insider Buying and Selling

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total value of $8,899,400.00. Following the transaction, the chief executive officer directly owned 575,966 shares of the company's stock, valued at approximately $256,287,591.02. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 1,007 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $478.36, for a total value of $481,708.52. Following the transaction, the insider owned 112,155 shares in the company, valued at $53,650,465.80. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 23,642 shares of company stock valued at $10,676,659. 0.18% of the stock is currently owned by corporate insiders.

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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