13,997 Shares in Western Digital Corporation $WDC Acquired by Vise Technologies Inc.

Vise Technologies Inc. purchased a new position in shares of Western Digital Corporation (NASDAQ:WDC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,997 shares of the data storage provider’s stock, valued at approximately $8,940,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Western Digital in the 2nd quarter valued at $3,104,000. E Fund Management Co. Ltd. acquired a new stake in shares of Western Digital in the second quarter worth $19,198,000. Asahi Life Asset Management CO. LTD. purchased a new position in shares of Western Digital during the second quarter worth $703,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Western Digital during the second quarter worth $546,000. Finally, Trivest Advisors Ltd acquired a new position in Western Digital during the second quarter valued at $627,606,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Stock Up 1.5%

NASDAQ:WDC opened at $469.05 on Friday. Western Digital Corporation has a 52 week low of $74.42 and a 52 week high of $799.87. The stock’s 50-day moving average price is $554.31 and its 200-day moving average price is $433.12. The stock has a market capitalization of $161.67 billion, a PE ratio of 19.37 and a beta of 2.14.

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

Western Digital Announces Dividend

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

Insider Activity at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 2,475 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the completion of the transaction, the insider directly owned 85,154 shares in the company, valued at approximately $47,366,060.96. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce E. Kiddoo sold 750 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total transaction of $396,390.00. Following the transaction, the director directly owned 3,903 shares in the company, valued at approximately $2,062,813.56. The trade was a 16.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 24,679 shares of company stock worth $11,451,605 over the last 90 days. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WDC shares. Summit Insights lowered shares of Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 6th. 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 note on Thursday, August 6th. Melius Research set a $1,050.00 price objective on Western Digital and gave the company a “buy” rating in a report on Monday, June 29th. Morgan Stanley restated an “overweight” rating and issued a $676.00 target price on shares of Western Digital in a research note on Thursday, August 6th. Finally, Barclays raised their target price on Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Two equities 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.