Western Digital Corporation $WDC Shares Sold by Cheviot Value Management LLC

Cheviot Value Management LLC decreased its position in Western Digital Corporation (NASDAQ:WDC - Free Report) by 34.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,365 shares of the data storage provider's stock after selling 2,344 shares during the period. Cheviot Value Management LLC's holdings in Western Digital were worth $752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDC. Quadcap Wealth Management LLC increased its holdings in shares of Western Digital by 2.1% in the fourth quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider's stock valued at $346,000 after purchasing an additional 41 shares during the period. Moss Adams Wealth Advisors LLC lifted its holdings in shares of Western Digital by 2.6% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider's stock worth $341,000 after purchasing an additional 51 shares during the period. Bogart Wealth LLC boosted its position in Western Digital by 19.4% in the fourth quarter. Bogart Wealth LLC now owns 369 shares of the data storage provider's stock valued at $64,000 after buying an additional 60 shares during the last quarter. 44 Wealth Management LLC boosted its position in Western Digital by 0.8% in the third quarter. 44 Wealth Management LLC now owns 9,329 shares of the data storage provider's stock valued at $1,120,000 after buying an additional 78 shares during the last quarter. Finally, Addison Advisors LLC increased its holdings in Western Digital by 7.1% in the 3rd quarter. Addison Advisors LLC now owns 1,281 shares of the data storage provider's stock worth $154,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 92.51% of the company's stock.

Insider Activity

In other news, insider Cynthia L. Tregillis sold 363 shares of the firm's stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $377.09, for a total value of $136,883.67. Following the transaction, the insider directly owned 120,023 shares of the company's stock, valued at approximately $45,259,473.07. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of the business's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the transaction, the chief executive officer owned 598,150 shares in the company, valued at $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 53,679 shares of company stock worth $18,049,314 over the last three months. Insiders own 0.18% of the company's stock.

Western Digital Price Performance

NASDAQ WDC opened at $480.09 on Friday. The stock's 50 day simple moving average is $325.84 and its 200-day simple moving average is $242.16. The company has a market cap of $165.48 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 0.87 and a beta of 2.10. Western Digital Corporation has a 1-year low of $43.88 and a 1-year high of $483.87.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm had revenue of $3.34 billion during the quarter, compared to analysts' expectations of $3.25 billion. During the same period in the previous year, the business earned $1.36 earnings per share. The firm's revenue for the quarter was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities research analysts anticipate that Western Digital Corporation will post 9.57 EPS for the current fiscal year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 5th. This is a positive change from Western Digital's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital's payout ratio is currently 2.99%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. New Street Research set a $250.00 price target on shares of Western Digital in a research report on Tuesday, February 3rd. Zacks Research upgraded shares of Western Digital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Robert W. Baird boosted their target price on shares of Western Digital from $310.00 to $450.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Evercore reaffirmed an "outperform" rating and issued a $500.00 price target on shares of Western Digital in a report on Friday, May 1st. Finally, Sanford C. Bernstein raised Western Digital from a "market perform" rating to an "outperform" rating and set a $340.00 price target on the stock in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Western Digital currently has a consensus rating of "Moderate Buy" and a consensus price target of $395.83.

Western Digital News Summary

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: Wall Street analysts remain upbeat on Western Digital, with firms lifting price targets and Zacks upgrading the stock to Strong Buy, signaling rising confidence in demand trends and earnings momentum. Zacks Research upgrade
• Positive Sentiment: Coverage is highlighting Western Digital as a beneficiary of the AI memory and data-center storage supercycle, with demand for high-capacity storage solutions expected to stay elevated. Motley Fool article
• Positive Sentiment: The company’s recent earnings beat, raised guidance, and multiple target increases from analysts continue to support the stock’s sharp year-to-date gain and keep momentum investors engaged. Yahoo Finance article
• Neutral Sentiment: Western Digital also announced progress on simplifying its structure by unwinding its remaining Sandisk stake through share swaps and future distributions, which may help investors better value WDC as a more focused storage pure play. Yahoo Finance share swap article

About Western Digital

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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