TriaGen Wealth Management LLC Makes New $951,000 Investment in Western Digital Corporation $WDC

Key Points

• TriaGen Wealth Management bought a new position of 5,521 shares in Western Digital during Q4, valued at approximately $951,000.
• Analyst sentiment is broadly positive with 21 Buy ratings vs 3 Holds and an average price target of $304.29, while firms like Morgan Stanley have raised targets (to $380) and labeled WDC “overweight.”
• Western Digital recently reported a quarterly earnings beat (EPS $2.13 vs $1.93 expected) with revenue up 25.2% year-over-year; the stock trades around $372.52 (market cap ~$126.3B) amid notable insider selling (~92,795 shares, ~$24.3M over 90 days) and high institutional ownership (92.51%).

TriaGen Wealth Management LLC bought a new position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,521 shares of the data storage provider's stock, valued at approximately $951,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. ORG Partners LLC lifted its holdings in Western Digital by 124.5% during the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider's stock worth $25,000 after buying an additional 117 shares in the last quarter. Rakuten Securities Inc. increased its stake in shares of Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock valued at $27,000 after buying an additional 407 shares during the period. Cullen Frost Bankers Inc. raised its position in shares of Western Digital by 551.4% during the third quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider's stock worth $29,000 after acquiring an additional 204 shares during the last quarter. Westfuller Advisors LLC acquired a new position in shares of Western Digital during the third quarter valued at $30,000. Finally, Avion Wealth lifted its stake in shares of Western Digital by 163.8% during the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider's stock valued at $31,000 after acquiring an additional 113 shares during the period. Institutional investors and hedge funds own 92.51% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on WDC. Susquehanna reiterated a "neutral" rating and issued a $285.00 price objective on shares of Western Digital in a research report on Friday, February 6th. The Goldman Sachs Group set a $250.00 target price on shares of Western Digital in a research note on Tuesday, February 3rd. Morgan Stanley lifted their price target on shares of Western Digital to $380.00 and gave the stock an "overweight" rating in a research report on Monday, April 6th. Robert W. Baird set a $310.00 price target on shares of Western Digital in a research note on Monday, February 2nd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $325.00 price objective on shares of Western Digital in a research note on Monday, February 9th. Twenty-one investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $304.29.

Western Digital Price Performance

Shares of WDC opened at $372.52 on Monday. The stock has a market cap of $126.30 billion, a P/E ratio of 37.36, a price-to-earnings-growth ratio of 0.86 and a beta of 1.77. Western Digital Corporation has a 1 year low of $35.51 and a 1 year high of $378.98. The stock's 50-day moving average price is $293.17 and its two-hundred day moving average price is $217.26. The company has a current ratio of 1.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The data storage provider reported $2.13 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.20. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The company had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.93 billion. During the same period in the prior year, the business posted $1.77 EPS. Western Digital's revenue was up 25.2% on a year-over-year basis. On average, equities analysts predict that Western Digital Corporation will post 4.89 earnings per share for the current year.

Western Digital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Thursday, March 5th were issued a $0.125 dividend. The ex-dividend date was Thursday, March 5th. This represents a $0.50 annualized dividend and a yield of 0.1%. Western Digital's dividend payout ratio (DPR) is 5.02%.

Insider Activity

In other news, Director Matthew E. Massengill sold 36,926 shares of Western Digital stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $260.43, for a total transaction of $9,616,638.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cynthia L. Tregillis sold 9,324 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $268.27, for a total transaction of $2,501,349.48. Following the completion of the transaction, the insider directly owned 121,682 shares of the company's stock, valued at $32,643,630.14. This trade represents a 7.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 92,795 shares of company stock valued at $24,265,884. 0.18% of the stock is currently owned by company insiders.

Western Digital 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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