Western Digital Corporation $WDC Stock Holdings Reduced by Rivermont Capital Management LP

Key Points

• Rivermont Capital Management LP has reduced its stake in Western Digital Corporation by 1.6%, owning 206,665 shares valued at approximately $8.4 million.
• Several institutions have increased their holdings, with Alyeska Investment Group boosting its stake by 130% to approximately $203.3 million.
• Western Digital has seen positive analyst ratings, with multiple firms raising their price targets and a consensus rating of "Moderate Buy".

Rivermont Capital Management LP cut its holdings in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 206,665 shares of the data storage provider's stock after selling 3,380 shares during the quarter. Western Digital comprises approximately 3.5% of Rivermont Capital Management LP's portfolio, making the stock its 15th biggest holding. Rivermont Capital Management LP owned approximately 0.06% of Western Digital worth $8,355,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WDC. Zions Bancorporation National Association UT purchased a new stake in Western Digital during the first quarter worth approximately $29,000. Allworth Financial LP boosted its stake in shares of Western Digital by 34.1% in the first quarter. Allworth Financial LP now owns 955 shares of the data storage provider's stock valued at $38,000 after purchasing an additional 243 shares during the period. Elequin Capital LP purchased a new stake in Western Digital during the 4th quarter worth $40,000. MorganRosel Wealth Management LLC acquired a new position in Western Digital in the 1st quarter worth $40,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Western Digital by 242.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,208 shares of the data storage provider's stock valued at $49,000 after buying an additional 855 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. TD Cowen boosted their target price on shares of Western Digital from $58.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Citigroup lifted their price target on Western Digital from $88.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday. Zacks Research raised Western Digital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. BNP Paribas reiterated an "outperform" rating on shares of Western Digital in a report on Friday, May 16th. Finally, Susquehanna raised their price objective on Western Digital from $40.00 to $62.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $81.89.

Western Digital Price Performance

Shares of NASDAQ WDC traded up $1.51 during mid-day trading on Friday, reaching $97.66. 6,751,889 shares of the company traded hands, compared to its average volume of 7,927,555. The firm has a market cap of $34.07 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.14 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 Corporation has a fifty-two week low of $28.83 and a fifty-two week high of $98.86. The stock has a fifty day simple moving average of $75.63 and a 200-day simple moving average of $56.87.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The data storage provider reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.48 by $0.18. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The company's quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.44 EPS. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. Equities 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 announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, September 4th. Western Digital's dividend payout ratio (DPR) is presently 7.77%.

Insider Activity

In other news, insider Cynthia L. Tregillis sold 14,067 shares of the stock in a transaction on 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 completion of the sale, the insider owned 135,351 shares in the company, valued at $10,121,547.78. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vidyadhara K. Gubbi sold 11,343 shares of the firm's 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 sale, the insider owned 151,596 shares of the company's stock, valued at $13,687,602.84. The trade was a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,975 shares of company stock worth $3,935,806 over the last three months. 0.30% of the stock is owned by insiders.

Western Digital 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.