Rep. Jefferson Shreve Buys Western Digital Co. (NASDAQ:WDC) Stock

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 Performance

Western Digital stock opened at $44.10 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. Western Digital Co. has a one year low of $28.83 and a one year high of $81.55. The stock’s 50 day moving average price is $40.12 and its 200 day moving average price is $56.26. The firm has a market capitalization of $15.39 billion, a PE ratio of 10.50 and a beta of 1.42.

Western Digital (NASDAQ:WDC) last announced its earnings results on Wednesday, April 30th. The data storage provider reported $1.36 earnings per share for the quarter, beating 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 business had revenue of ($1,465.00) million during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was down 33.6% compared to the same quarter last year. As a group, sell-side analysts expect that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Western Digital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, June 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.91%. Western Digital’s payout ratio is currently 7.58%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WDC shares. Loop Capital restated a “buy” rating on shares of Western Digital in a research note on Tuesday. Rosenblatt Securities reduced their target price on Western Digital from $76.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Bank of America lowered their price objective on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Citigroup dropped their target price on Western Digital from $64.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, StockNews.com initiated coverage on shares of Western Digital in a report on Friday, May 2nd. They set a “hold” rating for the company. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.15.

Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Western Digital

Institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc increased its position in shares of Western Digital by 278.9% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 304 shares in the last quarter. Sierra Ocean LLC purchased a new position in Western Digital during the 4th quarter worth approximately $29,000. Comprehensive Financial Planning Inc. PA purchased a new position in Western Digital during the 4th quarter worth approximately $30,000. OFI Invest Asset Management acquired a new stake in Western Digital during the 4th quarter valued at $36,000. Finally, Allworth Financial LP lifted its holdings in shares of Western Digital by 34.1% in the first quarter. Allworth Financial LP now owns 955 shares of the data storage provider’s stock valued at $38,000 after purchasing an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

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 [email protected] 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.

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.