Cynthia Tregillis Sells 106 Shares of Western Digital (NASDAQ:WDC) Stock

Western Digital Corporation (NASDAQ:WDC) insider Cynthia Tregillis sold 106 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $458.87, for a total value of $48,640.22. Following the completion of the transaction, the insider owned 118,443 shares of the company’s stock, valued at approximately $54,349,939.41. This represents a 0.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Western Digital Stock Down 0.4%

Shares of NASDAQ WDC opened at $484.28 on Friday. Western Digital Corporation has a 52 week low of $49.00 and a 52 week high of $525.15. The business has a 50-day simple moving average of $373.02 and a two-hundred day simple moving average of $268.41. The company has a market cap of $166.92 billion, a P/E ratio of 28.91 and a beta of 2.10.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter last year, the company earned $1.36 EPS. The firm’s revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities research analysts anticipate that Western Digital Corporation will post 9.57 EPS for the current year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be given a dividend of $0.15 per share. This is a boost from Western Digital’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital’s dividend payout ratio is 3.58%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WDC. Wedbush reiterated an “outperform” rating and set a $325.00 price target on shares of Western Digital in a research report on Monday, February 9th. Bank of America lifted their price target on Western Digital to $495.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Weiss Ratings upgraded Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 15th. Morgan Stanley reiterated an “overweight” rating and set a $488.00 price target on shares of Western Digital in a research report on Friday, May 1st. Finally, Barclays lifted their price target on Western Digital from $405.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and a consensus target price of $395.83.

Hedge Funds Weigh In On Western Digital

A number of large investors have recently modified their holdings of the company. Summitry LLC purchased a new position in shares of Western Digital during the 1st quarter valued at about $231,000. Groupama Asset Managment raised its holdings in shares of Western Digital by 241.8% during the 1st quarter. Groupama Asset Managment now owns 9,595 shares of the data storage provider’s stock valued at $2,595,000 after buying an additional 6,788 shares in the last quarter. BankChampaign National Association purchased a new position in shares of Western Digital during the 1st quarter valued at about $2,128,000. January Capital Advisors LLC purchased a new position in shares of Western Digital during the 1st quarter valued at about $241,000. Finally, Western Wealth Management LLC purchased a new position in shares of Western Digital during the 1st quarter valued at about $97,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

About Western Digital

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.