Western Digital (NASDAQ:WDC) Insider Cynthia Tregillis Sells 476 Shares

Western Digital Corporation (NASDAQ:WDC) insider Cynthia Tregillis sold 476 shares of Western Digital stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $450.78, for a total value of $214,571.28. Following the completion of the transaction, the insider directly owned 114,784 shares in the company, valued at $51,742,331.52. This represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Western Digital Stock Performance

Shares of NASDAQ:WDC opened at $462.00 on Friday. The stock has a 50-day simple moving average of $532.72 and a 200-day simple moving average of $439.49. The stock has a market capitalization of $159.24 billion, a P/E ratio of 19.08 and a beta of 2.14. Western Digital Corporation has a 1 year low of $77.90 and a 1 year high of $799.87.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $3.56 EPS for the quarter, beating the consensus estimate of $3.31 by $0.25. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.66 earnings per share. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Analysts predict that Western Digital Corporation will post 19.65 earnings per share for the current year.

Western Digital Announces Dividend

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

Institutional Trading of Western Digital

Large investors have recently modified their holdings of the business. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Western Digital in the second quarter worth about $28,000. Dunhill Financial LLC acquired a new stake in Western Digital during the 2nd quarter valued at approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Western Digital during the 2nd quarter valued at approximately $31,000. Gables Capital Management Inc. purchased a new stake in Western Digital during the 2nd quarter worth approximately $32,000. Finally, Ares Financial Consulting LLC increased its holdings in Western Digital by 45.5% during the 2nd quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock worth $51,000 after purchasing an additional 25 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. The Goldman Sachs Group restated a “neutral” rating and set a $400.00 price objective on shares of Western Digital in a research note on Friday, May 1st. Wells Fargo & Company increased their target price on Western Digital from $575.00 to $730.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Robert W. Baird set a $630.00 target price on Western Digital in a report on Thursday, August 6th. Morgan Stanley reissued an “overweight” rating and set a $676.00 price target on shares of Western Digital in a research report on Thursday, August 6th. Finally, Barclays upped their price target on Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $534.56.

More Western Digital News

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

• Positive Sentiment: Western Digital’s AI- and cloud-storage growth thesis remains intact. Industry momentum from AI infrastructure, cloud computing, the Internet of Things and automotive applications is supporting expectations for continued demand. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
• Positive Sentiment: A recent exchange of approximately $191 million of 3% convertible notes due 2028 is viewed as constructive liability management because it can reduce debt, although issuing shares may create some dilution. What’s Going on With Western Digital Stock on Wednesday?
• Positive Sentiment: Western Digital recently reported revenue growth of 44% year over year to $3.75 billion and earnings of $3.56 per share, exceeding estimates. Its next-quarter earnings guidance of $3.85 to $4.15 per share also supports the bullish fundamental case.
• Positive Sentiment: Technical and analyst indicators remain favorable: a recent hammer chart pattern suggested potential support, while upward earnings-estimate revisions and a bullish Wall Street consensus point to possible longer-term recovery. Western Digital May Find a Bottom Soon

Western Digital Company 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.