Western Digital Corporation $WDC Shares Sold by Legacy Wealth Managment LLC ID

Key Points

• Legacy Wealth Managment LLC ID cut its Western Digital stake by 36% in the second quarter, selling 2,661 shares and retaining 4,722 shares valued at approximately $3.0 million. Institutional investors and hedge funds collectively own 92.51% of the company.
• Western Digital reported quarterly earnings of $3.56 per share, exceeding the $3.31 consensus estimate, while revenue rose 43.8% year over year to $3.75 billion. The company issued first-quarter fiscal 2027 EPS guidance of $3.85 to $4.15.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $534.56, although Summit Insights downgraded the stock to “hold.” Western Digital shares opened at $441.57, while insiders have sold more than $10.4 million worth of stock over the past 90 days.

Legacy Wealth Managment LLC ID lowered its stake in Western Digital Corporation (NASDAQ:WDC - Free Report) by 36.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,722 shares of the data storage provider's stock after selling 2,661 shares during the period. Western Digital accounts for 1.3% of Legacy Wealth Managment LLC ID's holdings, making the stock its 20th biggest position. Legacy Wealth Managment LLC ID's holdings in Western Digital were worth $3,016,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Dogwood Wealth Management LLC grew its holdings in shares of Western Digital by 28.6% during the second quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider's stock valued at $57,000 after buying an additional 20 shares during the last quarter. Legacy Wealth Asset Management LLC raised its stake in Western Digital by 1.0% in 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 acquiring an additional 22 shares during the last quarter. Everpar Advisors LLC lifted its position in Western Digital by 1.8% during the 2nd quarter. Everpar Advisors LLC now owns 1,442 shares of the data storage provider's stock worth $921,000 after acquiring an additional 25 shares during the period. Ares Financial Consulting LLC lifted its position in Western Digital by 45.5% during the 2nd quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider's stock worth $51,000 after acquiring an additional 25 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its stake in Western Digital by 2.1% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 1,390 shares of the data storage provider's stock valued at $888,000 after purchasing an additional 28 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Stock Performance

NASDAQ WDC opened at $441.57 on Friday. The firm has a market capitalization of $152.20 billion, a P/E ratio of 18.24, a PEG ratio of 1.90 and a beta of 2.13. The stock has a 50-day simple moving average of $508.41 and a two-hundred day simple moving average of $445.56. Western Digital Corporation has a fifty-two week low of $85.92 and a fifty-two week high of $799.87.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 EPS for the quarter, topping analysts' consensus estimates of $3.31 by $0.25. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The company's revenue was up 43.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.66 earnings per share. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. As a group, analysts forecast that Western Digital Corporation will post 19.65 earnings per share for the current year.

Western Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital's dividend payout ratio is currently 2.48%.

Insider Buying and Selling

In related news, CEO Irving Tan sold 20,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the sale, the chief executive officer directly owned 575,966 shares of the company's stock, valued at approximately $256,287,591.02. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 1,007 shares of the firm's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $478.36, for a total transaction of $481,708.52. Following the sale, the insider owned 112,155 shares in the company, valued at approximately $53,650,465.80. This represents a 0.89% decrease in their position. 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 have sold a total of 23,210 shares of company stock worth $10,440,960 in the last ninety days. Corporate insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WDC shares. Summit Insights lowered Western Digital from a "buy" rating to a "hold" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on Western Digital from $530.00 to $650.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Jefferies Financial Group set a $575.00 price target on shares of Western Digital in a report on Tuesday, May 26th. Cantor Fitzgerald raised their price target on shares of Western Digital from $660.00 to $900.00 and gave the stock an "overweight" rating in a research report on Monday, June 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Western Digital from $575.00 to $730.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Western Digital presently has a consensus rating of "Moderate Buy" and a consensus target price of $534.56.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source