PensionDanmark Pensionsforsikringsaktieselskab Reduces Position in Western Digital Corporation $WDC

PensionDanmark Pensionsforsikringsaktieselskab decreased its holdings in Western Digital Corporation (NASDAQ:WDC) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,556 shares of the data storage provider’s stock after selling 2,468 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Western Digital were worth $45,066,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Dogwood Wealth Management LLC boosted its holdings in shares of Western Digital by 28.6% during the 2nd quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock worth $57,000 after purchasing an additional 20 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Western Digital in the first quarter valued at approximately $32,000. IMG Wealth Management Inc. lifted its position in Western Digital by 853.8% during the first quarter. IMG Wealth Management Inc. now owns 124 shares of the data storage provider’s stock worth $34,000 after buying an additional 111 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in Western Digital during the first quarter worth approximately $35,000. Finally, Cornerstone Planning Group LLC boosted its stake in Western Digital by 33.3% during the first quarter. Cornerstone Planning Group LLC now owns 132 shares of the data storage provider’s stock worth $36,000 after buying an additional 33 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Price Performance

Shares of WDC stock opened at $451.52 on Friday. Western Digital Corporation has a 1-year low of $73.14 and a 1-year high of $799.87. The company has a 50-day moving average of $567.55 and a two-hundred day moving average of $417.23. The firm has a market cap of $155.63 billion, a PE ratio of 18.65 and a beta of 2.14.

Western Digital (NASDAQ:WDC) last announced its earnings results on Tuesday, August 4th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $0.25. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.70 billion. Western Digital had a return on equity of 50.22% and a net margin of 72.95%.The firm’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.66 earnings per share. Sell-side analysts anticipate that Western Digital Corporation will post 17.77 EPS for the current fiscal year.

Western Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors 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 yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Western Digital’s dividend payout ratio is presently 3.58%.

Insider Transactions at Western Digital

In other news, insider Cynthia L. Tregillis sold 808 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total value of $427,941.04. Following the sale, the insider directly owned 114,539 shares in the company, valued at approximately $60,663,290.57. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the transaction, the director owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 5,093 shares of company stock valued at $2,751,337. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

WDC has been the subject of a number of recent research reports. Cantor Fitzgerald raised their target price on Western Digital from $660.00 to $900.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Wall Street Zen raised shares of Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings raised shares of Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 13th. Fox Advisors cut shares of Western Digital from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Finally, Bank of America increased their price target on shares of Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $536.96.

More Western Digital News

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

• Positive Sentiment: Western Digital reported adjusted earnings of $3.56 per share, above the $3.31 consensus estimate, while revenue increased 43.8% year over year to $3.75 billion, also exceeding forecasts. Western Digital Q4 Earnings Beat as Revenue Jumps 44% on Cloud Demand
• Positive Sentiment: Management cited strong cloud and AI-related storage demand, pricing gains and adoption of higher-capacity products. The company said some AI customers are negotiating storage capacity commitments through 2031, providing long-term demand visibility. Western Digital Says AI Customers Are Already Negotiating Storage Deals Through 2031
• Positive Sentiment: Fiscal first-quarter 2027 revenue guidance of $4.0 billion to $4.2 billion and adjusted EPS guidance of $3.85 to $4.15 were above consensus estimates. Several analysts maintained bullish views, including Baird, which raised its price target to $630. Western Digital Earns Buy Rating as Analyst Lifts Price Target to $630

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.