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.
- Purchased $1,001 - $15,000 in shares of Alphabet NASDAQ: GOOG on 4/11/2025.
- Purchased $1,001 - $15,000 in shares of Texas Instruments NASDAQ: TXN on 4/11/2025.
- Purchased $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA 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.
Western Digital Stock Performance
WDC stock traded up $0.20 during midday trading on Thursday, hitting $49.40. The stock had a trading volume of 2,816,491 shares, compared to its average volume of 6,374,289. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. The stock has a 50-day simple moving average of $40.47 and a 200 day simple moving average of $55.93. Western Digital Co. has a 52 week low of $28.83 and a 52 week high of $81.55. The firm has a market capitalization of $17.23 billion, a price-to-earnings ratio of 11.76 and a beta of 1.42.
Western Digital (NASDAQ:WDC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The data storage provider reported $1.36 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.30. The company had revenue of ($1,465.00) million during the quarter, compared to analyst estimates of $2.70 billion. Western Digital had a return on equity of 15.68% and a net margin of 9.95%. The firm's quarterly revenue was down 33.6% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. As a group, equities research analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current year.
Western Digital Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.81%. Western Digital's payout ratio is currently 7.58%.
Western Digital declared that its Board of Directors has approved a stock repurchase program on Tuesday, May 13th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the data storage provider to purchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.
Insider Buying and Selling at Western Digital
In other news, CEO Irving Tan sold 11,379 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $48.19, for a total value of $548,354.01. Following the sale, the chief executive officer now owns 605,481 shares of the company's stock, valued at $29,178,129.39. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Gene M. Zamiska sold 1,659 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction 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 trade represents a 3.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,494 shares of company stock worth $636,747 over the last three months. 0.30% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Western Digital
Several institutional investors and hedge funds have recently added to or reduced their stakes in WDC. Norges Bank acquired a new stake in shares of Western Digital during the fourth quarter worth $352,572,000. Deutsche Bank AG grew its holdings in shares of Western Digital by 107.1% during the first quarter. Deutsche Bank AG now owns 3,369,331 shares of the data storage provider's stock valued at $136,222,000 after buying an additional 1,742,481 shares during the last quarter. AMF Tjanstepension AB bought a new position in shares of Western Digital during the fourth quarter valued at about $94,181,000. Vanguard Group Inc. lifted its position in shares of 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, Canada Pension Plan Investment Board bought a new position in shares of Western Digital during the first quarter valued at about $50,897,000. Institutional investors own 92.51% of the company's stock.
Analyst Ratings Changes
WDC has been the topic of a number of recent analyst reports. StockNews.com assumed coverage on shares of Western Digital in a research report on Friday, May 2nd. They set a "hold" rating on the stock. Cantor Fitzgerald lowered their price target on shares of Western Digital from $95.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. UBS Group upped their target price on shares of Western Digital from $40.00 to $45.00 and gave the company a "neutral" rating 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 target on shares of Western Digital and gave the company an "overweight" rating in a research note on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Western Digital has an average rating of "Moderate Buy" and an average target price of $64.15.
Check Out Our Latest Report on Western Digital
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
(
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.
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