Headlands Technologies LLC Takes $2.53 Million Position in Western Digital Corporation $WDC

Headlands Technologies LLC bought a new position in Western Digital Corporation (NASDAQ:WDC) during the 2nd quarter, HoldingsChannel reports. The fund bought 3,957 shares of the data storage provider’s stock, valued at approximately $2,527,000.

Other hedge funds have also made changes to their positions in the company. Dogwood Wealth Management LLC lifted its holdings in Western Digital by 28.6% during the 2nd quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock valued at $57,000 after purchasing an additional 20 shares during the last quarter. Legacy Wealth Asset Management LLC grew its stake in Western Digital by 1.0% during the second quarter. Legacy Wealth Asset Management LLC now owns 2,302 shares of the data storage provider’s stock worth $1,470,000 after buying an additional 22 shares during the last quarter. Everpar Advisors LLC increased its holdings in shares of Western Digital by 1.8% during the second quarter. Everpar Advisors LLC now owns 1,442 shares of the data storage provider’s stock worth $921,000 after buying an additional 25 shares in the last quarter. Ares Financial Consulting LLC raised its stake in shares of Western Digital by 45.5% in the second quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock valued at $51,000 after acquiring an additional 25 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its stake in shares of Western Digital by 2.1% in the second quarter. Dynamic Advisor Solutions LLC now owns 1,390 shares of the data storage provider’s stock valued at $888,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Price Performance

WDC opened at $459.45 on Monday. The stock has a market capitalization of $158.36 billion, a P/E ratio of 18.98 and a beta of 2.14. The company’s 50 day simple moving average is $526.99 and its 200-day simple moving average is $440.71. Western Digital Corporation has a one year low of $77.90 and a one year high of $799.87.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share 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 during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the company posted $1.66 EPS. Western Digital’s revenue was up 43.8% on a year-over-year basis. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. As a group, analysts anticipate that Western Digital Corporation will post 19.65 EPS for the current year.

Western Digital Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WDC. Jefferies Financial Group set a $575.00 target price on Western Digital in a report on Tuesday, May 26th. Summit Insights downgraded Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 6th. Susquehanna boosted their price objective on Western Digital from $360.00 to $500.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Weiss Ratings cut Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. raised their target price on Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $534.56.

Key Stories Impacting Western Digital

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

Insiders Place Their Bets

In other news, insider Cynthia L. Tregillis sold 1,007 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $53,650,465.80. This represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total value of $8,899,400.00. Following the completion of the transaction, the chief executive officer owned 575,966 shares in the company, valued at approximately $256,287,591.02. This represents a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 23,642 shares of company stock valued at $10,676,659. 0.18% of the stock is currently owned by corporate insiders.

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.