TRB Wealth Management LLC Invests $878,000 in Western Digital Corporation $WDC

TRB Wealth Management LLC bought a new stake in shares of Western Digital Corporation (NASDAQ:WDC) in the 2nd quarter, Holdings Channel.com reports. The firm bought 1,375 shares of the data storage provider’s stock, valued at approximately $878,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Western Digital by 7.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock worth $1,698,000 after acquiring an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Western Digital by 229.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after purchasing an additional 967 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Western Digital during the second quarter valued at $307,000. Cresset Asset Management LLC purchased a new stake in Western Digital in the second quarter worth about $292,000. Finally, Federated Hermes Inc. increased its position in Western Digital by 55.3% in the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock worth $152,000 after buying an additional 845 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Price Performance

Shares of WDC opened at $459.44 on Friday. The firm has a market cap of $158.36 billion, a P/E ratio of 18.98 and a beta of 2.14. Western Digital Corporation has a 1 year low of $74.57 and a 1 year high of $799.87. The company has a 50 day simple moving average of $552.24 and a two-hundred day simple moving average of $433.31.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 EPS for the quarter, topping the consensus estimate of $3.31 by $0.25. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the firm earned $1.66 earnings per share. The company’s quarterly revenue was up 43.8% compared to the same quarter last year. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. On average, sell-side analysts anticipate that Western Digital Corporation will post 19.65 earnings per share for the current year.

Western Digital Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. TD Cowen lifted their price objective on Western Digital from $500.00 to $540.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Jefferies Financial Group set a $575.00 target price on shares of Western Digital in a research note on Tuesday, May 26th. Fox Advisors lowered shares of Western Digital from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Wall Street Zen downgraded shares of Western Digital from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $676.00 target price on shares of Western Digital in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $534.56.

Insider Activity at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total value of $8,899,400.00. Following the sale, the chief executive officer directly owned 575,966 shares of the company’s stock, valued at approximately $256,287,591.02. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 808 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total value of $427,941.04. Following the completion of the sale, the insider owned 114,539 shares in the company, valued at $60,663,290.57. This represents a 0.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 24,679 shares of company stock worth $11,451,605 over the last 90 days. Company insiders own 0.18% of the company’s stock.

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.