1,978 Western Digital Corporation $WDC Shares Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund boosted its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 4.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,335 shares of the data storage provider’s stock after buying an additional 1,978 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Western Digital were worth $20,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Western Digital during the 2nd quarter valued at $28,000. Dunhill Financial LLC bought a new stake in shares of Western Digital in the second quarter valued at approximately $29,000. Valley National Advisers Inc. grew its position in Western Digital by 182.6% in the 3rd quarter. Valley National Advisers Inc. now owns 65 shares of the data storage provider’s stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Western Digital during the second quarter worth about $31,000. Finally, Valley Wealth Managers Inc. bought a new stake in shares of Western Digital during the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Bank of America increased their price target on shares of Western Digital from $720.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Wall Street Zen downgraded shares of Western Digital from a “strong-buy” rating to a “buy” rating in a research report on Saturday. UBS Group reiterated a “buy” rating and issued a $625.00 price objective on shares of Western Digital in a research report on Friday, October 23rd. Cantor Fitzgerald lowered their price target on shares of Western Digital from $900.00 to $625.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. Finally, Wedbush lifted their price objective on Western Digital from $540.00 to $650.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $591.04.

Western Digital Stock Up 2.6%

Shares of WDC opened at $347.35 on Wednesday. Western Digital Corporation has a twelve month low of $132.43 and a twelve month high of $799.87. The stock has a market capitalization of $130.02 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.19 and a beta of 2.27. The company has a 50 day moving average of $417.28 and a 200-day moving average of $418.03.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Thursday, October 22nd. The data storage provider reported $4.64 EPS for the quarter, topping analysts’ consensus estimates of $4.11 by $0.53. Western Digital had a net margin of 69.20% and a return on equity of 55.62%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The firm’s revenue for the quarter was up 55.5% on a year-over-year basis. On average, sell-side analysts anticipate that Western Digital Corporation will post 23.62 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, December 4th will be paid a $0.1750 dividend. This represents a $0.70 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, December 4th. This is an increase from Western Digital’s previous quarterly dividend of $0.15. Western Digital’s dividend payout ratio (DPR) is presently 2.33%.

Insiders Place Their Bets

In related news, insider Vidyadhara K. Gubbi sold 1,795 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $459.87, for a total value of $825,466.65. Following the completion of the transaction, the insider directly owned 80,571 shares of the company’s stock, valued at approximately $37,052,185.77. This trade represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the 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 completion of the sale, the chief executive officer owned 575,966 shares of the company’s stock, valued at approximately $256,287,591.02. This represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 25,436 shares of company stock valued at $11,340,064 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Key Western Digital News

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

• Positive Sentiment: Memory stocks recovered some of Monday’s losses after a cautious outlook from Kioxia weighed on the group; Western Digital joined the rebound, providing a near-term tailwind for WDC. SanDisk Surges as Memory Stocks Rebound
• Positive Sentiment: Western Digital raised its quarterly dividend nearly 17% to $0.175 per share. The increase follows a strong fiscal first quarter, with revenue up 55% and adjusted earnings up 161% year over year. Western Digital Raises Its Dividend
• Neutral Sentiment: Cloud customers generated 88% of revenue, with cloud sales growing 54%. That reflects strong storage demand, but also leaves WDC particularly exposed to spending by a concentrated customer segment. Western Digital’s Cloud Revenue Share
• Negative Sentiment: A report on Jim Cramer’s comparison favored Micron over Western Digital, which may underscore competition for investor attention as AI-related memory demand attracts interest. Micron vs. Western Digital
• Negative Sentiment: A Western Digital director sold 18.7% of their stake under a preset plan. The planned nature of the sale may temper its significance, but insider selling can still draw investor notice. Western Digital Director Sells Shares

Western Digital Company Profile

Western Digital Corporation (NASDAQ: WDC) is a data storage technology company that develops and manufactures hard disk drives (HDDs) and related storage solutions. Its products are used in data centers, cloud infrastructure, enterprise systems, personal computers, gaming platforms and external storage devices.

The company offers HDD-based products for business and consumer applications, including high-capacity drives designed for hyperscale and cloud data centers, enterprise storage environments, network-attached storage systems and personal computing.