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 11th. 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.
- 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 Western Digital NASDAQ: WDC on 4/10/2025.
- 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 Price Performance
WDC traded up $2.44 on Tuesday, hitting $49.01. 8,112,921 shares of the company's stock were exchanged, compared to its average volume of 6,381,518. The firm has a 50-day moving average price of $40.17 and a 200-day moving average price of $56.03. The stock has a market cap of $17.10 billion, a price-to-earnings ratio of 11.67 and a beta of 1.42. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. Western Digital Co. has a fifty-two week low of $28.83 and a fifty-two week high of $81.55.
Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Wednesday, April 30th. The data storage provider reported $1.36 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.30. The business had revenue of ($1,465.00) million for the quarter, compared to analyst estimates of $2.70 billion. Western Digital had a net margin of 9.95% and a return on equity of 15.68%. The business's revenue was down 33.6% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. As a group, equities analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current year.
Western Digital Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.82%. Western Digital's payout ratio is currently 7.58%.
Analysts Set New Price Targets
WDC has been the subject of several analyst reports. Robert W. Baird dropped their price target on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating for the company in a research note on Thursday, January 30th. TD Cowen reduced their target price on Western Digital from $80.00 to $58.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. upgraded Western Digital from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $45.00 to $57.00 in a report on Thursday, May 1st. TD Securities reduced their price objective on shares of Western Digital from $80.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Barclays set a $50.00 target price on shares of Western Digital and gave the company an "overweight" rating in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, Western Digital has a consensus rating of "Moderate Buy" and an average price target of $64.15.
Read Our Latest Stock Analysis on WDC
Insider Transactions at Western Digital
In related news, 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 value of $68,616.24. Following the completion of the transaction, the senior vice president now directly owns 43,776 shares of the company's stock, valued at $1,810,575.36. This represents a 3.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.30% of the company's stock.
Institutional Trading of Western Digital
Several hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc grew its position in shares of Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock worth $25,000 after buying an additional 304 shares in the last quarter. Sierra Ocean LLC purchased a new position in Western Digital in the fourth quarter worth approximately $29,000. Zions Bancorporation National Association UT acquired a new position in Western Digital during the 1st quarter worth approximately $29,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Western Digital in the 4th quarter valued at approximately $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Western Digital in the 4th quarter valued at $36,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.
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.
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.
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