SPX Gestao de Recursos Ltda purchased a new position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,300 shares of the data storage provider's stock, valued at approximately $7,218,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dogwood Wealth Management LLC boosted its holdings in Western Digital by 28.6% during the second quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider's stock worth $57,000 after purchasing an additional 20 shares during the last quarter. Legacy Wealth Asset Management LLC grew its position in Western Digital by 1.0% in the second quarter. Legacy Wealth Asset Management LLC now owns 2,302 shares of the data storage provider's stock valued at $1,470,000 after purchasing an additional 22 shares in the last quarter. Everpar Advisors LLC increased its stake in Western Digital by 1.8% in the 2nd quarter. Everpar Advisors LLC now owns 1,442 shares of the data storage provider's stock valued at $921,000 after buying an additional 25 shares during the last quarter. Ares Financial Consulting LLC increased its stake in Western Digital by 45.5% in the 2nd quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider's stock valued at $51,000 after buying an additional 25 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its position in Western Digital by 2.1% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 1,390 shares of the data storage provider's stock worth $888,000 after buying an additional 28 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Western Digital news, insider Vidyadhara K. Gubbi sold 2,475 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $556.24, for a total value of $1,376,694.00. Following the sale, the insider owned 85,154 shares in the company, valued at $47,366,060.96. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Irving Tan sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total value of $8,899,400.00. Following the completion of the sale, 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 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 90 days, insiders sold 26,117 shares of company stock worth $12,053,353. Company insiders own 0.18% of the company's stock.
Western Digital News Roundup
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Western Digital’s long-term outlook remains supported by demand for AI infrastructure, cloud computing, enterprise storage, automotive systems and other data-intensive applications. Analysts at Zacks continue to identify WDC as a potential beneficiary of strong memory and storage demand, particularly following Nvidia’s solid results. 4 High-Flying Memory and Storage Giants
- Positive Sentiment: The company’s latest quarterly results provide fundamental support: revenue rose 43.8% year over year to $3.75 billion, while earnings of $3.56 per share exceeded expectations. Guidance for $3.85 to $4.15 in next-quarter EPS also remains constructive.
- Positive Sentiment: Wall Street’s consensus remains bullish, with a “Moderate Buy” rating and an average price target above the current trading level. Several firms have cited continued AI and storage demand as reasons for further upside. Wall Street’s Bullish Views on WDC
- Neutral Sentiment: Insider Cynthia Tregillis sold a small portion of her holdings under a pre-arranged Rule 10b5-1 trading plan. The transactions modestly reduce her position but do not necessarily signal deteriorating confidence. Cynthia Tregillis Insider Transactions
- Negative Sentiment: Memory and storage stocks sold off even after Nvidia reported strong results, suggesting investors are taking profits from an extended AI trade and differentiating among suppliers. Western Digital’s underperformance versus peers has amplified concern that expectations or valuation may have become too aggressive. Why Memory Stocks Fell Despite Nvidia’s Results
Western Digital Price Performance
Shares of WDC stock opened at $459.45 on Friday. The stock has a market cap of $158.36 billion, a P/E ratio of 18.98 and a beta of 2.14. The company has a fifty day moving average price of $526.99 and a two-hundred day moving average price of $439.63. Western Digital Corporation has a one year low of $77.90 and a one year high of $799.87.
Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.25. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.70 billion. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. Western Digital's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.66 EPS. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. As a group, equities research analysts anticipate that Western Digital Corporation will post 19.65 EPS for the current fiscal year.
Western Digital Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 8th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Western Digital's dividend payout ratio (DPR) is presently 2.48%.
Wall Street Analyst Weigh In
WDC has been the subject of a number of recent research reports. Summit Insights downgraded shares of Western Digital from a "buy" rating to a "hold" rating in a research note on Thursday, August 6th. Mizuho set a $590.00 target price on Western Digital in a research report on Thursday, August 6th. Susquehanna upped their target price on Western Digital from $360.00 to $500.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. The Goldman Sachs Group reissued a "neutral" rating and set a $400.00 price target on shares of Western Digital in a research report on Friday, May 1st. Finally, Evercore restated an "outperform" rating and issued a $575.00 price target on shares of Western Digital in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $534.56.
Read Our Latest Analysis on Western Digital
Western Digital Profile
(
Free Report)
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.
Further Reading
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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