SOA Wealth Advisors LLC. Has $713,000 Holdings in Western Digital Corporation $WDC

Key Points

• SOA Wealth Advisors LLC increased its holdings in Western Digital Corporation by 21.5% during the 2nd quarter, bringing their total investment to $713,000.
• Insider trading activity included SVP Gene M. Zamiska and CEO Irving Tan selling shares, reducing their ownership by 9.10% and 1.43% respectively.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Western Digital, with a target price averaging $91.47, reflecting optimism about the company's growth potential.

SOA Wealth Advisors LLC. boosted its holdings in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 21.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,140 shares of the data storage provider's stock after buying an additional 1,972 shares during the period. SOA Wealth Advisors LLC.'s holdings in Western Digital were worth $713,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WDC. Wealth Enhancement Advisory Services LLC grew its position in Western Digital by 29.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,864 shares of the data storage provider's stock worth $1,125,000 after purchasing an additional 4,324 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Western Digital by 3,470.0% in the 1st quarter. GAMMA Investing LLC now owns 253,294 shares of the data storage provider's stock worth $10,241,000 after buying an additional 246,199 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Western Digital by 7.3% in the 1st quarter. Rhumbline Advisers now owns 674,874 shares of the data storage provider's stock worth $27,285,000 after buying an additional 46,202 shares during the last quarter. Czech National Bank grew its holdings in shares of Western Digital by 6.6% in the first quarter. Czech National Bank now owns 79,889 shares of the data storage provider's stock valued at $3,230,000 after acquiring an additional 4,932 shares in the last quarter. Finally, Gateway Investment Advisers LLC purchased a new stake in shares of Western Digital during the first quarter valued at approximately $4,864,000. 92.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 3,160 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $75.68, for a total value of $239,148.80. Following the completion of the transaction, the senior vice president owned 31,560 shares in the company, valued at approximately $2,388,460.80. This represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 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 ownership of the stock. 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. 0.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WDC. Wells Fargo & Company increased their price target on shares of Western Digital from $80.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Wedbush increased their target price on shares of Western Digital from $78.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Citigroup lifted their price target on shares of Western Digital from $88.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, September 8th. TD Cowen increased their price objective on Western Digital from $58.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, The Goldman Sachs Group began coverage on Western Digital in a research note on Thursday, July 10th. They issued a "neutral" rating and a $70.00 target price on the stock. Seventeen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $91.47.

Western Digital Trading Up 8.8%

Shares of WDC opened at $130.59 on Thursday. Western Digital Corporation has a 1-year low of $28.83 and a 1-year high of $131.12. The company has a market capitalization of $45.56 billion, a P/E ratio of 25.36, a P/E/G ratio of 1.01 and a beta of 1.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84. The firm's 50 day simple moving average is $87.58 and its 200 day simple moving average is $63.09.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.48 by $0.18. The business 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 revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the business posted $1.44 earnings per share. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. Sell-side analysts forecast that Western Digital Corporation will post 4.89 earnings per share for the current fiscal year.

Western Digital Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 0.3%. Western Digital's dividend payout ratio is presently 7.77%.

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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