Troluce Capital Advisors LLC Has $28.78 Million Holdings in Western Digital Corporation $WDC

Key Points

• Troluce Capital Advisors LLC increased its holdings in Western Digital Corporation by 186.7%, now owning approximately 711,750 shares valued at $28.78 million.
• Western Digital's stock has experienced a decline of 2.1% recently, despite positive quarterly earnings exceeding analyst expectations.
• The company announced a quarterly dividend of $0.10 per share, with a current dividend yield of 0.5% and a payout ratio of 7.77%.

Troluce Capital Advisors LLC boosted its position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 186.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 711,750 shares of the data storage provider's stock after buying an additional 463,468 shares during the quarter. Western Digital accounts for approximately 8.6% of Troluce Capital Advisors LLC's investment portfolio, making the stock its 3rd largest position. Troluce Capital Advisors LLC owned approximately 0.20% of Western Digital worth $28,776,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Ardmore Road Asset Management LP boosted its stake in Western Digital by 166.7% during the first quarter. Ardmore Road Asset Management LP now owns 400,000 shares of the data storage provider's stock valued at $16,172,000 after buying an additional 250,000 shares in the last quarter. Vident Advisory LLC purchased a new stake in shares of Western Digital during the first quarter valued at $214,000. Canada Pension Plan Investment Board purchased a new stake in shares of Western Digital during the first quarter valued at $50,897,000. Broad Bay Capital Management LP lifted its holdings in shares of Western Digital by 112.3% during the first quarter. Broad Bay Capital Management LP now owns 819,511 shares of the data storage provider's stock valued at $33,133,000 after purchasing an additional 433,511 shares during the last quarter. Finally, State of Wyoming lifted its holdings in shares of Western Digital by 354.1% during the first quarter. State of Wyoming now owns 5,863 shares of the data storage provider's stock valued at $237,000 after purchasing an additional 4,572 shares during the last quarter. Institutional investors own 92.51% of the company's stock.

Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 353 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $80.90, for a total transaction of $28,557.70. Following the completion of the sale, the senior vice president directly owned 27,425 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vidyadhara K. Gubbi sold 5,597 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $76.26, for a total value of $426,827.22. Following the sale, the insider directly owned 154,679 shares of the company's stock, valued at $11,795,820.54. This trade represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,361 shares of company stock valued at $3,006,534 over the last 90 days. Company insiders own 0.30% of the company's stock.

Western Digital Stock Down 2.1%

Shares of Western Digital stock opened at $80.34 on Monday. The stock has a 50-day moving average price of $70.86 and a 200 day moving average price of $55.28. The company has a market cap of $28.03 billion, a P/E ratio of 15.60, a P/E/G ratio of 0.97 and a beta of 1.69. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. Western Digital Corporation has a 1 year low of $28.83 and a 1 year high of $82.32.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.18. The firm 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 business's revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.44 EPS. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. As a group, analysts expect that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital announced that its board has authorized a share buyback program on Tuesday, May 13th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the data storage provider to repurchase up to 11.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Western Digital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. Western Digital's dividend payout ratio (DPR) is 7.77%.

Analysts Set New Price Targets

Several brokerages have recently commented on WDC. Barclays upped their target price on Western Digital from $50.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Zacks Research raised Western Digital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Wedbush upped their target price on Western Digital from $78.00 to $90.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. The Goldman Sachs Group began 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. Finally, Bank of America upped their target price on Western Digital from $62.00 to $71.00 and gave the company a "buy" rating in a report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $78.39.

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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