Livforsakringsbolaget Skandia Omsesidigt Makes New Investment in Western Digital Corporation $WDC

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,160 shares of the data storage provider’s stock, valued at approximately $1,379,000.

A number of other hedge funds have also modified their holdings of the company. Rakuten Securities Inc. increased its holdings in Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after buying an additional 407 shares during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Western Digital in the second quarter worth $28,000. Dunhill Financial LLC acquired a new stake in shares of Western Digital in the second quarter worth $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Western Digital during the second quarter worth $31,000. Finally, Swiss RE Ltd. purchased a new position in shares of Western Digital during the fourth quarter worth $32,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on WDC shares. Mizuho set a $590.00 price target on shares of Western Digital in a report on Thursday, August 6th. UBS Group reduced their price objective on Western Digital from $560.00 to $525.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Barclays boosted their price objective on Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. The Goldman Sachs Group restated a “neutral” rating and issued a $400.00 target price on shares of Western Digital in a research note on Friday, May 1st. Finally, Susquehanna raised their target price on Western Digital from $360.00 to $500.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $534.56.

Western Digital News Summary

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

• Positive Sentiment: Western Digital’s long-term outlook remains supported by demand for AI infrastructure, cloud computing, enterprise storage, automotive systems and other data-intensive applications. Analysts at Zacks continue to identify WDC as a potential beneficiary of strong memory and storage demand, particularly following Nvidia’s solid results. 4 High-Flying Memory and Storage Giants
• Positive Sentiment: The company’s latest quarterly results provide fundamental support: revenue rose 43.8% year over year to $3.75 billion, while earnings of $3.56 per share exceeded expectations. Guidance for $3.85 to $4.15 in next-quarter EPS also remains constructive.
• Positive Sentiment: Wall Street’s consensus remains bullish, with a “Moderate Buy” rating and an average price target above the current trading level. Several firms have cited continued AI and storage demand as reasons for further upside. Wall Street’s Bullish Views on WDC
• Neutral Sentiment: Insider Cynthia Tregillis sold a small portion of her holdings under a pre-arranged Rule 10b5-1 trading plan. The transactions modestly reduce her position but do not necessarily signal deteriorating confidence. Cynthia Tregillis Insider Transactions
• Negative Sentiment: Memory and storage stocks sold off even after Nvidia reported strong results, suggesting investors are taking profits from an extended AI trade and differentiating among suppliers. Western Digital’s underperformance versus peers has amplified concern that expectations or valuation may have become too aggressive. Why Memory Stocks Fell Despite Nvidia’s Results

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $459.45 on Friday. The company’s fifty day moving average price is $526.99 and its 200 day moving average price is $439.63. Western Digital Corporation has a 1 year low of $77.90 and a 1 year high of $799.87. The company has a market capitalization of $158.36 billion, a PE ratio of 18.98 and a beta of 2.14.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.25. The company 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%. The firm’s revenue for the quarter was up 43.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.66 earnings per share. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. On average, equities analysts expect that Western Digital Corporation will post 19.65 EPS for the current year.

Western Digital Dividend Announcement

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 given a dividend of $0.15 per share. The ex-dividend date 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 (DPR) is 2.48%.

Insider Activity at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $556.24, for a total value of $1,376,694.00. Following the completion of the transaction, the insider owned 85,154 shares of the company’s stock, valued at approximately $47,366,060.96. This represents a 2.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total value of $8,899,400.00. Following the transaction, the chief executive officer owned 575,966 shares in the company, valued at $256,287,591.02. This represents a 3.36% decrease in their position. 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. Insiders sold a total of 26,117 shares of company stock worth $12,053,353 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

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.