Western Digital Corporation $WDC Position Lifted by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Western Digital stake by 307.4% in the third quarter, adding 773,103 shares to hold about 1.02 million shares, worth roughly $465.6 million. Institutional investors collectively own 92.51% of the company.
• Western Digital reported quarterly earnings of $4.64 per share and $4.38 billion in revenue, beating analyst estimates; revenue rose 55.5% year over year.
• The company raised its quarterly dividend from $0.15 to $0.175 per share. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $591.04.

Aberdeen Group plc grew its position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 307.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,024,588 shares of the data storage provider's stock after acquiring an additional 773,103 shares during the quarter. Aberdeen Group plc owned about 0.27% of Western Digital worth $465,634,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Dogwood Wealth Management LLC raised its stake in shares of Western Digital by 28.6% in the 2nd quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider's stock valued at $57,000 after acquiring an additional 20 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in Western Digital by 1.0% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 2,302 shares of the data storage provider's stock worth $1,470,000 after purchasing an additional 22 shares during the last quarter. Everpar Advisors LLC raised its holdings in Western Digital by 1.8% in the second quarter. Everpar Advisors LLC now owns 1,442 shares of the data storage provider's stock valued at $921,000 after acquiring an additional 25 shares in the last quarter. Ares Financial Consulting LLC raised its stake in shares of 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 purchasing an additional 25 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its position in shares of Western Digital by 2.1% during the second quarter. Dynamic Advisor Solutions LLC now owns 1,390 shares of the data storage provider's stock worth $888,000 after purchasing an additional 28 shares during the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Price Performance

Shares of NASDAQ WDC opened at $295.65 on Friday. The firm has a market capitalization of $110.67 billion, a PE ratio of 11.47, a P/E/G ratio of 1.10 and a beta of 2.27. Western Digital Corporation has a 1-year low of $132.43 and a 1-year high of $799.87. The business's fifty day moving average price is $391.72 and its two-hundred day moving average price is $420.40.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The data storage provider reported $4.64 earnings per share for the quarter, beating the consensus estimate of $4.11 by $0.53. Western Digital had a net margin of 69.20% and a return on equity of 55.62%. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same period last year, the firm posted $1.78 EPS. Western Digital's quarterly revenue was up 55.5% compared to the same quarter last year. Equities research analysts expect that Western Digital Corporation will post 23.62 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, December 4th will be paid a dividend of $0.1750 per share. This is a boost from Western Digital's previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, December 4th. Western Digital's dividend payout ratio (DPR) is 2.33%.

Insider Buying and Selling at Western Digital

In other news, insider Cynthia L. Tregillis sold 807 shares of the stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $380.00, for a total transaction of $306,660.00. Following the completion of the sale, the insider owned 108,928 shares in the company, valued at approximately $41,392,640. This represents a 0.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 1,795 shares of Western Digital stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $459.87, for a total value of $825,466.65. Following the completion of the transaction, the insider directly owned 80,571 shares in the company, valued at $37,052,185.77. This represents a 2.18% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 5,436 shares of company stock valued at $2,440,664. Insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on WDC shares. Evercore reaffirmed an "outperform" rating on shares of Western Digital in a report on Friday, October 23rd. TD Cowen dropped their price target on Western Digital from $540.00 to $430.00 and set a "buy" rating on the stock in a research report on Friday, October 23rd. Citigroup reduced their price objective on Western Digital from $740.00 to $660.00 and set a "buy" rating on the stock in a research note on Friday, October 23rd. Sanford C. Bernstein lifted their price objective on shares of Western Digital from $590.00 to $770.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Finally, Cantor Fitzgerald lowered their target price on shares of Western Digital from $900.00 to $625.00 and set an "overweight" rating for the company in a research note on Friday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $591.04.

Western Digital Profile

Western Digital Corporation NASDAQ: WDC develops and supplies hard disk drives (HDDs) and related data-storage products. Its drives serve data centers and cloud providers, as well as businesses and consumers who need storage for computers, network-attached storage systems, surveillance and other applications. Its product brands include WD and Ultrastar. Founded in 1970, the company began as an electronics and semiconductor business before expanding into data storage. In February 2025, Western Digital completed the separation of its flash-memory business into the independently traded SanDisk Corporation, leaving Western Digital focused on HDDs.

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