TD Private Client Wealth LLC Increases Position in Western Digital Corporation $WDC

Key Points

• TD Private Client Wealth LLC significantly increased its position in Western Digital Corporation by 1,544.6% during Q2, owning a total of 8,075 shares worth approximately $517,000.
• Insider transactions provided insight into executive movements, with SVP Gene M. Zamiska and CEO Irving Tan selling shares valued at around $28,557 and $654,334, respectively.
• Western Digital's stock has received favorable analyst ratings, with several firms raising their price targets to as high as $90.00, reflecting a predominantly bullish outlook on the company's future performance.

TD Private Client Wealth LLC raised its position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 1,544.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,075 shares of the data storage provider's stock after purchasing an additional 7,584 shares during the period. TD Private Client Wealth LLC's holdings in Western Digital were worth $517,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WDC. Public Employees Retirement System of Ohio raised its holdings in shares of Western Digital by 2.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 197,043 shares of the data storage provider's stock valued at $12,609,000 after buying an additional 4,461 shares in the last quarter. Ballentine Partners LLC bought a new position in Western Digital during the second quarter valued at approximately $354,000. Cigna Investments Inc. New purchased a new position in shares of Western Digital during the second quarter worth approximately $222,000. Fifth Third Bancorp lifted its holdings in shares of Western Digital by 40.7% in the 2nd quarter. Fifth Third Bancorp now owns 21,101 shares of the data storage provider's stock worth $1,350,000 after acquiring an additional 6,103 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Western Digital by 56.7% in the 2nd quarter. GAMMA Investing LLC now owns 9,820 shares of the data storage provider's stock valued at $628,000 after purchasing an additional 3,555 shares in the last quarter. Institutional investors own 92.51% of the company's stock.

Insider Activity at Western Digital

In other news, SVP Gene M. Zamiska sold 353 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $80.90, for a total value of $28,557.70. Following the completion of the transaction, the senior vice president owned 27,425 shares in the company, valued at $2,218,682.50. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Irving Tan sold 8,621 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $75.90, for a total value of $654,333.90. Following the completion of the sale, the chief executive officer directly owned 594,836 shares in the company, valued at approximately $45,148,052.40. The trade was a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,730 shares of company stock valued at $3,921,594. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wedbush boosted their price target on shares of Western Digital from $78.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Rosenblatt Securities boosted their target price on Western Digital from $53.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. The Goldman Sachs Group started coverage on Western Digital in a report on Thursday, July 10th. They set a "neutral" rating and a $70.00 target price for the company. TD Cowen lifted their price target on Western Digital from $58.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Sanford C. Bernstein raised Western Digital to a "hold" rating in a research note on Tuesday, September 16th. Seventeen 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 presently has an average rating of "Moderate Buy" and an average price target of $89.63.

Western Digital Trading Down 0.3%

NASDAQ WDC opened at $106.88 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.08. Western Digital Corporation has a fifty-two week low of $28.83 and a fifty-two week high of $113.75. The stock has a market cap of $37.29 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 0.91 and a beta of 1.69. The stock has a 50 day simple moving average of $84.34 and a two-hundred day simple moving average of $61.58.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.48 by $0.18. The company had revenue of $2.61 billion during 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 firm's revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.44 earnings per share. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. On average, analysts forecast that Western Digital Corporation will post 4.89 earnings per share for the current year.

Western Digital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Thursday, September 4th. 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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