Rep. Robert Bresnahan, Jr. Sells Western Digital Co. (NASDAQ:WDC) Shares

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Western Digital Co. NASDAQ: WDC. In a filing disclosed on May 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in Western Digital stock on April 10th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/17/2025.
• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/16/2025.
• Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/11/2025.
• Sold $1,001 - $15,000 in shares of DexCom NASDAQ: DXCM on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Invesco NYSE: IVZ on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Generac NYSE: GNRC on 4/8/2025.
• Sold $15,001 - $50,000 in shares of Occidental Petroleum NYSE: OXY on 4/8/2025.
• Sold $15,001 - $50,000 in shares of Pfizer NYSE: PFE on 4/8/2025.
• Sold $1,001 - $15,000 in shares of QUALCOMM NASDAQ: QCOM on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Best Buy NYSE: BBY on 4/8/2025.

Western Digital Price Performance

Shares of NASDAQ WDC traded up $2.47 during mid-day trading on Monday, reaching $46.57. The company's stock had a trading volume of 6,957,364 shares, compared to its average volume of 6,364,188. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. Western Digital Co. has a 52 week low of $28.83 and a 52 week high of $81.55. The stock has a fifty day moving average of $40.17 and a two-hundred day moving average of $56.03. The firm has a market capitalization of $16.25 billion, a PE ratio of 11.09 and a beta of 1.42.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The data storage provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.30. The company had revenue of ($1,465.00) million for the quarter, compared to the consensus estimate of $2.70 billion. Western Digital had a net margin of 9.95% and a return on equity of 15.68%. Western Digital's revenue for the quarter was down 33.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. As a group, sell-side analysts anticipate that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Western Digital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.86%. Western Digital's payout ratio is 7.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Western Digital from $40.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Bank of America reduced their price target on Western Digital from $89.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Barclays set a $50.00 target price on Western Digital and gave the stock an "overweight" rating in a research report on Thursday, May 1st. TD Securities reduced their price target on shares of Western Digital from $80.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, TD Cowen dropped their target price on shares of Western Digital from $80.00 to $58.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $64.15.

Insider Buying and Selling

In other news, SVP Gene M. Zamiska sold 1,659 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the sale, the senior vice president now directly owns 43,776 shares in the company, valued at $1,810,575.36. This represents a 3.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On Western Digital

Hedge funds have recently bought and sold shares of the business. Mather Group LLC. boosted its position in shares of Western Digital by 7.0% during the 4th quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider's stock worth $144,000 after purchasing an additional 159 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in Western Digital by 1.4% during the fourth quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider's stock worth $704,000 after buying an additional 164 shares in the last quarter. BNP Paribas grew its position in Western Digital by 0.6% during the fourth quarter. BNP Paribas now owns 26,415 shares of the data storage provider's stock worth $1,575,000 after buying an additional 166 shares during the period. Inspire Investing LLC lifted its position in shares of Western Digital by 4.3% during the 4th quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider's stock valued at $258,000 after acquiring an additional 177 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Western Digital by 1.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the data storage provider's stock worth $1,109,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company's stock.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.