SGL Investment Advisors Inc. Makes New Investment in Western Digital Corporation $WDC

SGL Investment Advisors Inc. purchased a new stake in Western Digital Corporation (NASDAQ:WDC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,590 shares of the data storage provider’s stock, valued at approximately $697,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Rakuten Securities Inc. raised its position in Western Digital by 4,070.0% in the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 407 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Western Digital during the 2nd quarter worth $28,000. Dunhill Financial LLC purchased a new position in shares of Western Digital in the 2nd quarter valued at about $29,000. Valley Wealth Managers Inc. acquired a new stake in shares of Western Digital in the first quarter valued at about $32,000. Finally, Gables Capital Management Inc. purchased a new stake in Western Digital during the second quarter worth about $32,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WDC shares. Wells Fargo & Company lifted their price target on shares of Western Digital from $575.00 to $730.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Melius Research set a $1,050.00 target price on Western Digital and gave the stock a “buy” rating in a research report on Monday, June 29th. Wall Street Zen cut Western Digital from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Zacks Research raised Western Digital from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Finally, Susquehanna increased their price objective on shares of Western Digital from $360.00 to $500.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $534.56.

Western Digital Price Performance

NASDAQ:WDC opened at $469.05 on Friday. The firm has a market cap of $161.67 billion, a PE ratio of 19.37 and a beta of 2.14. The firm has a 50 day simple moving average of $554.31 and a 200-day simple moving average of $433.12. Western Digital Corporation has a 1-year low of $74.42 and a 1-year high of $799.87.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 EPS for the quarter, topping the consensus estimate of $3.31 by $0.25. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. Western Digital’s revenue for the quarter was up 43.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.66 EPS. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. As a group, sell-side analysts expect that Western Digital Corporation will post 19.65 earnings per share for the current fiscal year.

Western Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital’s dividend payout ratio is currently 2.48%.

Insider Activity at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 2,475 shares of Western Digital stock in a transaction on Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the transaction, the insider owned 85,154 shares in the company, valued at $47,366,060.96. This trade represents a 2.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the sale, the chief executive officer directly owned 575,966 shares of the company’s stock, valued at $256,287,591.02. This represents a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 24,679 shares of company stock valued at $11,451,605. Insiders own 0.18% of the company’s stock.

Western Digital Profile

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.