Federation des caisses Desjardins du Quebec Sells 5,001 Shares of Western Digital Corporation $WDC

Key Points

• The Federation des caisses Desjardins du Quebec has reduced its stake in Western Digital Corporation (WDC) by 9.4%, selling 5,001 shares, leaving it with holdings worth approximately $1.94 million.
• Western Digital also announced a quarterly dividend of $0.10 per share, payable on September 18, with a yield of 0.4%.
• Despite a challenging market, Western Digital reported earnings per share of $1.66 for the last quarter, surpassing analysts' expectations, and it has a strong revenue growth rate of 30% year-over-year.

Federation des caisses Desjardins du Quebec trimmed its stake in Western Digital Corporation (NASDAQ:WDC - Free Report) by 9.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,059 shares of the data storage provider's stock after selling 5,001 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Western Digital were worth $1,943,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in Western Digital by 52.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,838 shares of the data storage provider's stock worth $1,166,000 after purchasing an additional 9,974 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in Western Digital in the 1st quarter worth $35,406,000. Asset Management One Co. Ltd. grew its position in Western Digital by 5.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 144,307 shares of the data storage provider's stock worth $5,834,000 after purchasing an additional 6,947 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Western Digital by 6.8% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 89,244 shares of the data storage provider's stock valued at $3,608,000 after acquiring an additional 5,711 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Western Digital by 8.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,933,278 shares of the data storage provider's stock valued at $118,574,000 after acquiring an additional 216,387 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Price Performance

Shares of NASDAQ WDC traded up $0.74 during trading on Thursday, reaching $95.76. The company had a trading volume of 4,396,386 shares, compared to its average volume of 7,918,492. Western Digital Corporation has a 52 week low of $28.83 and a 52 week high of $97.78. The stock has a market cap of $33.41 billion, a PE ratio of 18.57, a PEG ratio of 1.14 and a beta of 1.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.08. The business's 50 day moving average price is $75.03 and its 200-day moving average price is $56.54.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.18. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. Western Digital's revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.44 earnings per share. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. Analysts expect that Western Digital Corporation will post 4.89 earnings per share for the current year.

Western Digital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 4th. Western Digital's payout ratio is 7.77%.

Insider Buying and Selling at Western Digital

In other Western Digital news, CEO Irving Tan sold 8,621 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were 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 owned 594,836 shares of the company's stock, valued at approximately $45,148,052.40. This represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Gene M. Zamiska sold 353 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The shares were 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. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 49,975 shares of company stock valued at $3,935,806. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Zacks Research upgraded shares of Western Digital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. Rosenblatt Securities lifted their target price on shares of Western Digital from $53.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. BNP Paribas reiterated an "outperform" rating on shares of Western Digital in a research report on Friday, May 16th. Mizuho lifted their target price on shares of Western Digital from $75.00 to $87.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, TD Cowen boosted their price target on shares of Western Digital from $58.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Western Digital has a consensus rating of "Moderate Buy" and a consensus target price of $81.89.

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.