Signal Advisors Wealth LLC Purchases New Position in Western Digital Corporation $WDC

Signal Advisors Wealth LLC purchased a new position in Western Digital Corporation (NASDAQ:WDC) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,104 shares of the data storage provider’s stock, valued at approximately $299,000.

A number of other hedge funds also recently bought and sold shares of WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Western Digital by 7.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after purchasing an additional 3,019 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Western Digital by 229.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after buying an additional 967 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Western Digital during the 2nd quarter valued at approximately $307,000. Cresset Asset Management LLC purchased a new position in shares of Western Digital during the 2nd quarter valued at approximately $292,000. Finally, Federated Hermes Inc. grew its stake in Western Digital by 55.3% in the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after acquiring an additional 845 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Stock Up 4.9%

Shares of NASDAQ:WDC opened at $675.39 on Friday. The firm’s 50 day moving average price is $513.57 and its 200 day moving average price is $342.93. The stock has a market cap of $232.79 billion, a price-to-earnings ratio of 40.32 and a beta of 2.13. Western Digital Corporation has a fifty-two week low of $62.53 and a fifty-two week high of $799.87.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.33. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The firm’s quarterly revenue was up 45.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities analysts anticipate that Western Digital Corporation will post 9.58 EPS for the current year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s payout ratio is currently 3.58%.

Insiders Place Their Bets

In related news, Director Bruce E. Kiddoo sold 750 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the sale, the director owned 3,903 shares in the company, valued at $2,062,813.56. The trade was a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cynthia L. Tregillis sold 432 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $545.60, for a total value of $235,699.20. Following the completion of the transaction, the insider directly owned 116,643 shares of the company’s stock, valued at $63,640,420.80. This trade represents a 0.37% 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 sold 29,322 shares of company stock valued at $12,768,550. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on WDC shares. Bank of America upped their price target on shares of Western Digital to $495.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Cantor Fitzgerald lifted their price target on Western Digital to $660.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Jefferies Financial Group set a $575.00 price target on shares of Western Digital in a research report on Tuesday, May 26th. Zacks Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Finally, Rosenblatt Securities upped their price target on Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $450.46.

Western Digital News Summary

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: Micron’s strong quarter is being treated as a read-through for the entire memory/storage group, with investors betting that AI infrastructure demand will keep Western Digital’s business environment favorable. Western Digital Stock And Seagate Get Boost From Big Micron Earnings Beat
• Positive Sentiment: Reports highlighted that AI-related memory demand is outpacing supply, which could support better pricing and margins for Western Digital if current trends continue. AI boom keeps memory chip makers in sweet spot, says expert
• Positive Sentiment: Analysts and market commentators said Micron’s results helped “justify elevated valuations” across memory names, fueling a sector-wide rally that included Western Digital. Sandisk, Western Digital, and others soar as Micron results ‘justify elevated valuations’
• Neutral Sentiment: Technical commentary noted a hammer pattern and improving earnings estimate revisions for WDC, which may be supporting bullish sentiment but is not a fundamental catalyst by itself. Here’s Why Western Digital (WDC) Is a Great ‘Buy the Bottom’ Stock Now

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.