Western Digital (NASDAQ:WDC) Stock Unloaded Rep. Robert Bresnahan, Jr.

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.
• 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.
• 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 Stock Performance

Shares of WDC opened at $44.10 on Friday. The firm has a market capitalization of $15.39 billion, a P/E ratio of 10.50 and a beta of 1.42. 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 one year low of $28.83 and a one year high of $81.55. The business has a fifty day moving average of $40.12 and a 200 day moving average of $56.26.

Western Digital (NASDAQ:WDC) last released 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. Western Digital had a return on equity of 15.68% and a net margin of 9.95%. 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 previous year, the company posted $0.63 EPS. The business’s quarterly revenue was down 33.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Western Digital Co. will post 4.89 EPS for the current year.

Western Digital Cuts Dividend

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

Hedge Funds Weigh In On Western Digital

Several institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in shares of Western Digital in the first quarter valued at $249,000. Deutsche Bank AG grew its stake in shares of 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 buying an additional 1,742,481 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new stake in shares of Western Digital in the 1st quarter worth about $1,259,000. Highland Peak Capital LLC raised its position in shares of Western Digital by 235.3% during the 1st quarter. Highland Peak Capital LLC now owns 710,231 shares of the data storage provider’s stock valued at $28,715,000 after buying an additional 498,380 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Western Digital by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 42,938,495 shares of the data storage provider’s stock valued at $1,736,003,000 after acquiring an additional 478,728 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WDC shares. Mizuho decreased their price target on shares of Western Digital from $82.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, April 10th. Summit Insights upgraded Western Digital from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. Benchmark upgraded Western Digital from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Thursday, April 10th. Rosenblatt Securities decreased their price objective on Western Digital from $76.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Finally, Barclays set a $50.00 price objective on Western Digital and gave the company an “overweight” rating in a research note on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and a consensus target price of $64.15.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 1,659 shares of the firm’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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by company insiders.

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.