Wolff Financial Management LLC Makes New Investment in Western Digital Corporation $WDC

Key Points

• Wolff Financial Management LLC acquired 3,229 shares of Western Digital Corporation, valued at approximately $207,000, marking a new investment position in the company as reported in their recent SEC filing.
• Insider trades have seen a significant number of shares sold, with Vidyadhara K. Gubbi and CEO Irving Tan selling over 19,000 shares combined, indicating a 6.96% and 1.43% decrease in their respective ownerships.
• Several analysts have issued new price targets for Western Digital, with Bank of America raising theirs from $100.00 to $123.00, reflecting a consensus rating of "Moderate Buy" among analysts.

Wolff Financial Management LLC purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,229 shares of the data storage provider's stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Lifestyle Asset Management Inc. acquired a new stake in Western Digital during the 2nd quarter valued at $1,332,000. Czech National Bank increased its holdings in Western Digital by 6.7% during the 2nd quarter. Czech National Bank now owns 85,278 shares of the data storage provider's stock valued at $5,457,000 after purchasing an additional 5,389 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Western Digital by 32.3% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,167 shares of the data storage provider's stock valued at $139,000 after purchasing an additional 529 shares in the last quarter. Range Financial Group LLC acquired a new stake in Western Digital during the 2nd quarter valued at $718,000. Finally, E. Ohman J or Asset Management AB acquired a new stake in Western Digital during the 2nd quarter valued at $987,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Trading Up 4.2%

Shares of NASDAQ:WDC traded up $4.21 during midday trading on Thursday, hitting $105.15. The company had a trading volume of 10,385,600 shares, compared to its average volume of 8,046,960. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $106.11. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The stock has a market cap of $36.68 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.14 and a beta of 1.69. The firm has a fifty day simple moving average of $79.32 and a 200 day simple moving average of $58.70.

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 (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.18. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period last year, the company earned $1.44 EPS. The firm's revenue was up 30.0% on a year-over-year basis. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. On average, analysts predict that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WDC. Bank of America lifted their target price on Western Digital from $100.00 to $123.00 and gave the company a "buy" rating in a research note on Monday. Rosenblatt Securities lifted their target price on Western Digital from $53.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. UBS Group lifted their target price on Western Digital from $45.00 to $75.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. The Goldman Sachs Group began coverage on Western Digital in a research note on Thursday, July 10th. They issued a "neutral" rating and a $70.00 target price for the company. Finally, Susquehanna lifted their target price on Western Digital from $40.00 to $62.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $86.95.

Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 3,160 shares of Western Digital stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $75.68, for a total transaction of $239,148.80. Following the transaction, the senior vice president directly owned 31,560 shares in the company, valued at approximately $2,388,460.80. The trade was a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Irving Tan sold 8,621 shares of Western Digital stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $75.90, for a total value of $654,333.90. Following the transaction, the chief executive officer owned 594,836 shares in the company, valued at approximately $45,148,052.40. This represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,730 shares of company stock valued at $3,921,594. Insiders own 0.30% of the company's stock.

About Western Digital

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.