Integrity Alliance LLC. Purchases 2,242 Shares of Western Digital Corporation $WDC

Integrity Alliance LLC. boosted its position in shares of Western Digital Corporation (NASDAQ:WDC) by 261.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,098 shares of the data storage provider’s stock after buying an additional 2,242 shares during the quarter. Integrity Alliance LLC.’s holdings in Western Digital were worth $1,408,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its holdings in Western Digital by 4.7% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 44,335 shares of the data storage provider’s stock valued at $20,148,000 after acquiring an additional 1,978 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Western Digital during the 3rd quarter valued at about $13,652,000. Tucker Asset Management LLC grew its stake in shares of Western Digital by 8.8% in the 3rd quarter. Tucker Asset Management LLC now owns 1,603 shares of the data storage provider’s stock worth $729,000 after purchasing an additional 129 shares during the last quarter. BOCHK Asset Management Ltd grew its stake in shares of Western Digital by 170.0% in the 3rd quarter. BOCHK Asset Management Ltd now owns 432 shares of the data storage provider’s stock worth $196,000 after purchasing an additional 272 shares during the last quarter. Finally, Signature Equity Partners LLC grew its stake in shares of Western Digital by 85.3% in the 3rd quarter. Signature Equity Partners LLC now owns 189 shares of the data storage provider’s stock worth $86,000 after purchasing an additional 87 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on WDC shares. UBS Group reiterated a “buy” rating and issued a $625.00 target price on shares of Western Digital in a report on Friday, October 23rd. Robert W. Baird set a $900.00 target price on shares of Western Digital in a report on Friday, October 23rd. Summit Insights lowered shares of Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their price target on Western Digital from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. Finally, Sanford C. Bernstein upped their price target on Western Digital from $590.00 to $770.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $591.04.

More Western Digital News

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

• Positive Sentiment: Margin growth and HDD demand support the outlook. Reports point to stronger pricing, demand for higher-capacity hard drives, AI-related storage needs and operational efficiencies as drivers of gross-margin expansion. Western Digital’s recent earnings beat and outlook were also cited as signs of potential further margin improvement. Read More.
• Positive Sentiment: Zacks Research upgraded WDC to “strong buy” from “hold.” The upgrade provides a positive analyst signal amid the pullback. Read More.
• Neutral Sentiment: Valuation expectations were trimmed. One valuation model lowered its fair-value estimate to US$613.38 from US$650.67. The revised estimate remains above the reported share price, but the cut reflects questions about how much HDD strength is already priced in and uncertainty around customer capital spending and future supply. Read More.
• Negative Sentiment: AI-policy headlines pressured storage and memory stocks. A lawmaker’s call for a pause in AI development added uncertainty about future data-center investment, extending a broader selloff in memory and storage shares. The reports describe a market reaction to the proposal, not an enacted policy. Read More.
• Negative Sentiment: Investors remain alert to valuation and execution risks. Commentary flagged premium-valuation concerns and the challenge of executing next-generation HAMR drive technology, tempering optimism about earnings and margins. Read More.

Western Digital Trading Down 17.4%

Shares of WDC opened at $267.63 on Friday. The business’s 50-day moving average price is $410.72 and its 200 day moving average price is $418.77. The stock has a market capitalization of $100.18 billion, a P/E ratio of 10.39, a P/E/G ratio of 1.14 and a beta of 2.27. Western Digital Corporation has a 1-year low of $132.43 and a 1-year high of $799.87.

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

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, December 4th will be given a $0.1750 dividend. This represents a $0.70 annualized dividend and a dividend yield of 0.3%. This is an increase from Western Digital’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, December 4th. Western Digital’s payout ratio is 2.72%.

Insider Transactions at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 1,795 shares of the firm’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cynthia L. Tregillis sold 1,007 shares of Western Digital stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $478.36, for a total transaction of $481,708.52. Following the transaction, the insider owned 112,155 shares in the company, valued at approximately $53,650,465.80. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,436 shares of company stock valued at $11,340,064 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

About Western Digital

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.