Lbp Am Sa Takes Position in Western Digital Corporation $WDC

Lbp Am Sa bought a new stake in Western Digital Corporation (NASDAQ:WDC) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 5,335 shares of the data storage provider’s stock, valued at approximately $641,000.

Other institutional investors also recently bought and sold shares of the company. ORG Partners LLC boosted its stake in shares of Western Digital by 124.5% during the third quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 117 shares during the period. Cullen Frost Bankers Inc. raised its stake in Western Digital by 551.4% in the third quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock worth $29,000 after buying an additional 204 shares in the last quarter. Grove Bank & Trust bought a new position in shares of Western Digital in the 3rd quarter worth approximately $30,000. Westfuller Advisors LLC purchased a new stake in Western Digital in the third quarter worth $30,000. Finally, JNBA Financial Advisors bought a new position in shares of Western Digital in the 3rd quarter worth about $34,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Western Digital

In other news, Director Kimberly Alexy sold 1,768 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $154.00, for a total transaction of $272,272.00. Following the transaction, the director directly owned 3,585 shares of the company’s stock, valued at $552,090. This represents a 33.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Roxanne Oulman sold 1,800 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $154.42, for a total value of $277,956.00. Following the completion of the transaction, the director owned 3,863 shares in the company, valued at approximately $596,524.46. This trade represents a 31.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,816 shares of company stock valued at $4,116,148 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

WDC has been the topic of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Western Digital in a research report on Tuesday, December 16th. Morgan Stanley upped their price target on shares of Western Digital to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, January 22nd. Loop Capital increased their price objective on shares of Western Digital to $250.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Wells Fargo & Company lifted their target price on shares of Western Digital from $180.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Finally, China Renaissance initiated coverage on shares of Western Digital in a research note on Friday, December 5th. They issued a “buy” rating and a $193.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $279.70 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average price is $188.62 and its 200-day moving average price is $134.34. Western Digital Corporation has a 52-week low of $28.83 and a 52-week high of $284.00. The company has a market cap of $95.63 billion, a PE ratio of 40.71, a PEG ratio of 1.20 and a beta of 1.78.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, October 30th. The data storage provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.21. Western Digital had a net margin of 21.37% and a return on equity of 30.89%. The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the prior year, the firm earned $1.78 earnings per share. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. As a group, analysts anticipate that Western Digital Corporation will post 4.89 EPS for the current year.

Trending Headlines about Western Digital

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

• Positive Sentiment: Investors lifted WDC after Seagate reported a strong Q2 that signaled robust demand for datacenter drives and helped re-rate storage peers. Why Western Digital Stock Soared Today
• Positive Sentiment: Same-day coverage: Benzinga highlights Seagate’s results as the proximate trigger for WDC buying, with investors rotating into peers. Western Digital Stock Rises On Seagate’s Strong Q2 Results
• Positive Sentiment: High-profile endorsement: Jim Cramer and other commentators pointed to persistent shortages and expect Western Digital’s upcoming quarter to be “very positive,” supporting sentiment. Jim Cramer Expects Western Digital’s Quarter to Be “Very Positive”
• Positive Sentiment: Industry supply tightness: coverage citing a DRAM/NAND “supercycle” and price strength underpins profit outlooks for Western Digital and peers. That fundamental backdrop helps justify the rally. 4 Memory Chip Stocks to Buy as Prices Skyrocket
• Positive Sentiment: New products for investors: launch of ETFs and 2x leveraged funds tied to Sandisk/Western Digital increases retail and thematic flows into the stock. Tradr Debuts Leveraged ETFs on Lumentum, Sandisk and Western Digital
• Neutral Sentiment: Analyst context: some research (Zacks) flags Micron as a potentially better value/ride on AI-driven memory demand, which could divert relative investor interest away from WDC. Western Digital vs. Micron: Which Data Storage Stock Has More Upside?
• Negative Sentiment: Mean-reversion risk: multiple pieces note WDC (and SanDisk) are up roughly 400% over the past year — that sharp run raises pullback and profit-taking risk despite strong fundamentals. SanDisk and Western Digital are up 400 in 1 Year. Should You Still Buy?

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.