Csenge Advisory Group Invests $1.27 Million in Western Digital Corporation $WDC

Csenge Advisory Group bought a new position in shares of Western Digital Corporation (NASDAQ:WDC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,983 shares of the data storage provider’s stock, valued at approximately $1,267,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Western Digital by 7.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock worth $1,698,000 after purchasing an additional 3,019 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Western Digital by 229.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after buying an additional 967 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Western Digital in the second quarter worth about $307,000. Cresset Asset Management LLC purchased a new stake in shares of Western Digital in the second quarter worth about $292,000. Finally, Federated Hermes Inc. grew its holdings in Western Digital by 55.3% during the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock worth $152,000 after acquiring an additional 845 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Cantor Fitzgerald upped their price objective on Western Digital from $660.00 to $900.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Bank of America lifted their target price on shares of Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Citigroup decreased their target price on shares of Western Digital from $800.00 to $740.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Zacks Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley restated an “overweight” rating and set a $676.00 price target on shares of Western Digital in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Western Digital presently has a consensus rating of “Moderate Buy” and an average target price of $534.56.

Trending Headlines about Western Digital

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

• Positive Sentiment: Western Digital is benefiting from a shortage of storage products and continued AI-related demand, supporting an optimistic long-term growth outlook. Is Western Digital Stock an Undervalued AI Stock to Buy?
• Positive Sentiment: Momentum-focused analysis continues to identify WDC as an attractive pick, reflecting strong recent performance and favorable investor sentiment toward AI-driven storage demand. Why Western Digital Is a Great Momentum Choice
• Neutral Sentiment: Jim Cramer said it may not be too late to invest in memory and storage stocks, but he also highlighted the sector’s historical boom-and-bust cycles, underscoring the risk of sharp swings in demand and pricing. Jim Cramer Discusses WDC and Other Memory Stocks
• Negative Sentiment: A broader technology selloff pressured WDC and other memory stocks as investors reduced exposure to AI hardware following a Wall Street Journal report about undisclosed AI-related spending commitments. WSJ Report Sends Memory Stocks Lower
• Negative Sentiment: Rising Treasury yields are weighing on high-growth semiconductor and storage shares by increasing discount rates and making richly valued AI trades less attractive, even without a deterioration in memory fundamentals. Higher Rates Test the Memory Boom
• Negative Sentiment: One recent analysis argues that WDC could be substantially overvalued after its strong rally, while uncertainty over whether Apple can source high-bandwidth memory from Chinese suppliers is creating additional volatility around potential demand shifts. Western Digital Could Be Overvalued on Apple China Memory Push

Insider Activity at Western Digital

In other news, insider Vidyadhara K. Gubbi sold 2,475 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the completion of the sale, the insider owned 85,154 shares of the company’s stock, valued at $47,366,060.96. The trade was a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce E. Kiddoo sold 750 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the transaction, the director owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,987 shares of company stock worth $11,602,097 in the last ninety days. 0.18% of the stock is owned by company insiders.

Western Digital Trading Down 6.9%

Shares of WDC opened at $462.09 on Thursday. The firm has a market cap of $159.27 billion, a P/E ratio of 19.09 and a beta of 2.14. Western Digital Corporation has a 12 month low of $73.14 and a 12 month high of $799.87. The stock’s 50 day moving average is $555.52 and its two-hundred day moving average is $431.58.

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

Western Digital Dividend Announcement

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

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.