Trust Asset Management LLC Makes New $252,000 Investment in Western Digital Corporation $WDC

Trust Asset Management LLC purchased 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 purchased 3,936 shares of the data storage provider’s stock, valued at approximately $252,000.

Several other hedge funds also recently bought and sold shares of the stock. UMB Bank n.a. increased its position in Western Digital by 6.2% during the second quarter. UMB Bank n.a. now owns 3,465 shares of the data storage provider’s stock worth $222,000 after buying an additional 202 shares in the last quarter. Allworth Financial LP grew its position in shares of Western Digital by 34.1% in the first quarter. Allworth Financial LP now owns 955 shares of the data storage provider’s stock valued at $38,000 after purchasing an additional 243 shares during the period. Truvestments Capital LLC grew its position in shares of Western Digital by 11.7% in the first quarter. Truvestments Capital LLC now owns 2,483 shares of the data storage provider’s stock valued at $100,000 after purchasing an additional 261 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Western Digital by 4.5% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,080 shares of the data storage provider’s stock valued at $246,000 after purchasing an additional 263 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Western Digital by 0.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,395 shares of the data storage provider’s stock valued at $1,835,000 after purchasing an additional 264 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on WDC shares. Citigroup lifted their price objective on Western Digital from $88.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Rosenblatt Securities lifted their price objective on Western Digital from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Western Digital in a research report on Saturday, September 27th. Zacks Research downgraded Western Digital from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Finally, Mizuho boosted their price target on Western Digital from $87.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Seventeen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.47.

Insider Buying and Selling

In other Western Digital news, CEO Irving Tan sold 8,621 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $75.90, for a total transaction of $654,333.90. Following the transaction, the chief executive officer owned 594,836 shares in the company, valued at $45,148,052.40. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cynthia L. Tregillis sold 14,067 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $74.78, for a total value of $1,051,930.26. Following the transaction, the insider owned 135,351 shares in the company, valued at approximately $10,121,547.78. This represents a 9.41% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,730 shares of company stock worth $3,921,594. Company insiders own 0.30% of the company’s stock.

Western Digital Price Performance

WDC stock opened at $119.93 on Wednesday. The stock has a 50-day moving average price of $92.19 and a two-hundred day moving average price of $65.51. Western Digital Corporation has a 12-month low of $28.83 and a 12-month high of $137.40. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The company has a market cap of $41.84 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 1.05 and a beta of 1.77.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.18. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.44 earnings per share. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. As a group, research analysts predict that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Thursday, September 4th. Western Digital’s payout ratio is currently 7.77%.

About Western Digital

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.