Representative Jefferson Shreve (R-Indiana) recently bought shares of Western Digital Co. NASDAQ: WDC. In a filing disclosed on May 08th, the Representative disclosed that they had bought between $15,001 and $50,000 in Western Digital stock on April 17th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.
Representative Jefferson Shreve also recently made the following trade(s):
- Purchased $50,001 - $100,000 in shares of Chipotle Mexican Grill NYSE: CMG on 4/17/2025.
- Purchased $50,001 - $100,000 in shares of Applied Materials NASDAQ: AMAT on 4/17/2025.
- Purchased $15,001 - $50,000 in shares of Caterpillar NYSE: CAT on 4/17/2025.
- Sold $15,001 - $50,000 in shares of Lululemon Athletica NASDAQ: LULU on 4/17/2025.
- Sold $15,001 - $50,000 in shares of Zoetis NYSE: ZTS on 4/17/2025.
- Purchased $15,001 - $50,000 in shares of Stryker NYSE: SYK on 4/17/2025.
- Purchased $15,001 - $50,000 in shares of NextEra Energy NYSE: NEE on 4/17/2025.
- Purchased $15,001 - $50,000 in shares of CSX NASDAQ: CSX on 4/17/2025.
- Purchased $15,001 - $50,000 in shares of Ross Stores NASDAQ: ROST on 4/17/2025.
- Sold $15,001 - $50,000 in shares of Meta Platforms NASDAQ: META on 4/17/2025.
Western Digital Stock Up 5.6%
WDC stock traded up $2.47 during midday trading on Monday, hitting $46.57. The stock had a trading volume of 6,957,364 shares, compared to its average volume of 6,364,188. The business has a 50-day moving average of $40.17 and a two-hundred day moving average of $56.03. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. The firm has a market cap of $16.25 billion, a price-to-earnings ratio of 11.09 and a beta of 1.42. Western Digital Co. has a 52-week low of $28.83 and a 52-week high of $81.55.
Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The data storage provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.30. Western Digital had a net margin of 9.95% and a return on equity of 15.68%. The company had revenue of ($1,465.00) million during the quarter, compared to analyst estimates of $2.70 billion. During the same period last year, the business earned $0.63 EPS. Western Digital's quarterly revenue was down 33.6% compared to the same quarter last year. As a group, equities research analysts forecast that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.
Western Digital Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Wednesday, June 4th. Western Digital's payout ratio is presently 7.58%.
Hedge Funds Weigh In On Western Digital
A number of institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in shares of Western Digital in the fourth quarter worth about $352,572,000. Deutsche Bank AG increased its holdings in Western Digital by 107.1% in the 1st quarter. Deutsche Bank AG now owns 3,369,331 shares of the data storage provider's stock worth $136,222,000 after acquiring an additional 1,742,481 shares in the last quarter. AMF Tjanstepension AB bought a new stake in Western Digital during the 4th quarter worth approximately $94,181,000. Vanguard Group Inc. lifted its holdings in Western Digital by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 42,459,767 shares of the data storage provider's stock valued at $2,531,876,000 after purchasing an additional 1,439,149 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new position in Western Digital during the fourth quarter valued at approximately $68,950,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction on Friday, March 7th. The shares were sold at an average price of $41.36, for a total transaction of $68,616.24. Following the transaction, the senior vice president now owns 43,776 shares in the company, valued at approximately $1,810,575.36. The trade was a 3.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.30% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on WDC. Benchmark raised Western Digital from a "hold" rating to a "buy" rating and set a $55.00 price target on the stock in a research report on Thursday, April 10th. Susquehanna dropped their target price on Western Digital from $72.00 to $40.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company reduced their price target on Western Digital from $75.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Summit Insights upgraded shares of Western Digital from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Finally, Barclays set a $50.00 price objective on shares of Western Digital and gave the company an "overweight" rating in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Western Digital has an average rating of "Moderate Buy" and an average price target of $64.15.
Check Out Our Latest Report on WDC
About Representative Shreve
Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.
Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election.
Email editor@ballotpedia.org to notify us of updates to this biography.
Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive.
Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.
Western Digital Company Profile
(
Get Free Report)
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.
Further Reading
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