Cynthia Tregillis Sells 476 Shares of Western Digital (NASDAQ:WDC) Stock

Western Digital Corporation (NASDAQ:WDC) insider Cynthia Tregillis sold 476 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $450.78, for a total value of $214,571.28. Following the completion of the sale, the insider owned 114,784 shares of the company’s stock, valued at $51,742,331.52. The trade was a 0.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Western Digital Stock Performance

Shares of Western Digital stock opened at $459.45 on Friday. Western Digital Corporation has a 52-week low of $77.90 and a 52-week high of $799.87. The company’s 50 day moving average price is $526.99 and its 200-day moving average price is $439.63. The stock has a market capitalization of $158.36 billion, a price-to-earnings ratio of 18.98 and a beta of 2.14.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $3.56 EPS 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 analyst estimates 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 was up 43.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.66 EPS. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. As a group, equities research analysts forecast that Western Digital Corporation will post 19.65 earnings per share for the current fiscal year.

Western Digital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Western Digital’s dividend payout ratio is 2.48%.

Hedge Funds Weigh In On Western Digital

A number of institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Western Digital by 7.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after buying an additional 3,019 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Western Digital by 229.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after buying an additional 967 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Western Digital in the 2nd quarter worth about $307,000. Cresset Asset Management LLC bought a new position in shares of Western Digital in the 2nd quarter worth about $292,000. Finally, Federated Hermes Inc. lifted its position in Western Digital by 55.3% during the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after acquiring an additional 845 shares during the period. Institutional investors own 92.51% of the company’s stock.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WDC. Rosenblatt Securities reduced their price target on Western Digital from $900.00 to $800.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Evercore restated an “outperform” rating and set a $575.00 target price on shares of Western Digital in a report on Tuesday, May 26th. Morgan Stanley reaffirmed an “overweight” rating and issued a $676.00 price target on shares of Western Digital in a research note on Thursday, August 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $400.00 target price on shares of Western Digital in a research note on Friday, May 1st. Finally, TD Cowen boosted their price target on shares of Western Digital from $500.00 to $540.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $534.56.

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.