Seven Mile Advisory Buys Shares of 1,556 Western Digital Corporation $WDC

Key Points

• Seven Mile Advisory opened a new position in Western Digital, buying 1,556 shares valued at about $268,000 in the fourth quarter.
• Western Digital reported better-than-expected quarterly results, with EPS of $2.72 and revenue of $3.34 billion, both above analyst estimates, and it raised its quarterly dividend to $0.15 per share.
• Sentiment around the stock has turned more positive: Morgan Stanley reiterated an Overweight rating and lifted its target to $650, while analysts broadly maintain a Moderate Buy view with an average target of about $450.46.

Seven Mile Advisory bought a new stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,556 shares of the data storage provider's stock, valued at approximately $268,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Alps Advisors Inc. boosted its position in Western Digital by 0.8% during the 4th quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider's stock valued at $811,000 after acquiring an additional 37 shares in the last quarter. Quadcap Wealth Management LLC boosted its position in shares of Western Digital by 2.1% in the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider's stock worth $346,000 after purchasing an additional 41 shares in the last quarter. Moss Adams Wealth Advisors LLC boosted its position in shares of Western Digital by 2.6% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider's stock worth $341,000 after purchasing an additional 51 shares in the last quarter. Bogart Wealth LLC boosted its position in shares of Western Digital by 19.4% in the 4th quarter. Bogart Wealth LLC now owns 369 shares of the data storage provider's stock worth $64,000 after purchasing an additional 60 shares in the last quarter. Finally, CYBER HORNET ETFs LLC boosted its position in shares of Western Digital by 7.2% in the 4th quarter. CYBER HORNET ETFs LLC now owns 889 shares of the data storage provider's stock worth $153,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 92.51% of the company's stock.

Western Digital Price Performance

Shares of WDC stock opened at $653.53 on Tuesday. The firm has a market capitalization of $225.26 billion, a price-to-earnings ratio of 39.02 and a beta of 2.13. The business has a fifty day moving average of $454.40 and a 200 day moving average of $312.52. Western Digital Corporation has a 1 year low of $56.26 and a 1 year high of $658.80.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.39 by $0.33. The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm's quarterly revenue was up 45.5% on a year-over-year basis. During the same quarter last year, the business posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, equities research analysts expect that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Friday, June 5th. This is an increase from Western Digital's previous quarterly dividend of $0.13. Western Digital's dividend payout ratio (DPR) is 3.58%.

Insider Buying and Selling

In other Western Digital news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the transaction, the chief executive officer owned 598,150 shares in the company, valued at approximately $246,342,096. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the transaction, the director owned 3,903 shares of the company's stock, valued at $2,062,813.56. The trade was a 16.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 29,322 shares of company stock worth $12,768,550. Corporate insiders own 0.18% of the company's stock.

Key Stories Impacting Western Digital

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and lifted its price target to $650, while other firms also turned constructive on Western Digital and the broader hard-drive/storage group. What's Going On With The Jump In Western Digital Stock?
• Positive Sentiment: Investors are re-rating WDC on expectations that AI and cloud data-center buildouts will keep HDD and storage demand tight, supporting pricing power and margin expansion. Why Western Digital’s stock was the S&P 500’s biggest gainer on Monday
• Positive Sentiment: Recent earnings were stronger than expected, with revenue and EPS beating estimates and management guiding to continued profitability, reinforcing confidence in the turnaround story. Western Digital Corporation Will Hit $600 on This Date
• Neutral Sentiment: Broader market sentiment was also upbeat, with risk appetite improving across AI, chip, and memory stocks, adding a sector tailwind to the move in WDC.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Robert W. Baird raised their price objective on Western Digital from $310.00 to $450.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Bank of America raised their price objective on Western Digital to $495.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. TD Cowen raised their price objective on Western Digital from $325.00 to $500.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Wells Fargo & Company raised their price objective on Western Digital from $500.00 to $575.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. Finally, Sanford C. Bernstein upgraded Western Digital from a "market perform" rating to an "outperform" rating and set a $340.00 target price for the company in a research note on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Western Digital presently has an average rating of "Moderate Buy" and an average price target of $450.46.

Western Digital Company 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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