Mirae Asset Global Investments Co. Ltd. Acquires 1,191 Shares of Western Digital Corporation $WDC

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Western Digital Corporation (NASDAQ:WDC) by 2.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,586 shares of the data storage provider’s stock after purchasing an additional 1,191 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Western Digital were worth $2,981,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WDC. Zions Bancorporation National Association UT bought a new stake in shares of Western Digital in the 1st quarter valued at about $29,000. Allworth Financial LP lifted its stake in shares of Western Digital by 34.1% in the 1st quarter. Allworth Financial LP now owns 955 shares of the data storage provider’s stock valued at $38,000 after acquiring an additional 243 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Western Digital in the 1st quarter valued at about $40,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Western Digital by 242.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,208 shares of the data storage provider’s stock valued at $49,000 after acquiring an additional 855 shares during the last quarter. Finally, Brooklyn Investment Group lifted its stake in shares of Western Digital by 91.2% in the 1st quarter. Brooklyn Investment Group now owns 1,279 shares of the data storage provider’s stock valued at $52,000 after acquiring an additional 610 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Stock Down 4.3%

Shares of NASDAQ:WDC opened at $119.93 on Wednesday. Western Digital Corporation has a 52-week low of $28.83 and a 52-week high of $137.40. The firm has a market capitalization of $41.84 billion, a P/E ratio of 23.29, a P/E/G ratio of 1.05 and a beta of 1.77. The stock has a 50 day moving average price of $92.19 and a 200-day moving average price of $65.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.08.

Western Digital (NASDAQ:WDC) last announced its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.18. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the prior year, the company earned $1.44 EPS. The business’s revenue was up 30.0% compared to the same quarter last year. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. As a group, equities research analysts anticipate that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, September 4th. Western Digital’s dividend payout ratio (DPR) is 7.77%.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 3,160 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $75.68, for a total transaction of $239,148.80. Following the completion of the transaction, the senior vice president owned 31,560 shares of the company’s stock, valued at $2,388,460.80. This trade represents a 9.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cynthia L. Tregillis sold 14,067 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $74.78, for a total value of $1,051,930.26. Following the transaction, the insider directly owned 135,351 shares of the company’s stock, valued at approximately $10,121,547.78. This trade represents a 9.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,730 shares of company stock worth $3,921,594 in the last 90 days. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WDC shares. Barclays boosted their target price on Western Digital from $80.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Citigroup boosted their target price on Western Digital from $88.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, September 8th. UBS Group upped their price target on Western Digital from $45.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Susquehanna upped their price target on Western Digital from $40.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company upped their price target on Western Digital from $80.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Seventeen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $91.47.

Western Digital Company Profile

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.