7,804 Shares in Western Digital Corporation $WDC Acquired by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. acquired a new stake in shares of Western Digital Corporation (NASDAQ:WDC) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,804 shares of the data storage provider’s stock, valued at approximately $4,985,000.

A number of other large investors have also added to or reduced their stakes in WDC. Dogwood Wealth Management LLC boosted its holdings in Western Digital by 28.6% in the second quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock worth $57,000 after acquiring an additional 20 shares in the last quarter. Legacy Wealth Asset Management LLC increased its holdings in shares of 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 valued at $1,470,000 after acquiring an additional 22 shares in 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 valued at $921,000 after acquiring an additional 25 shares in the last quarter. Ares Financial Consulting LLC raised its position in shares of Western Digital by 45.5% in the 2nd quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock worth $51,000 after purchasing an additional 25 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Western Digital by 2.1% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 1,390 shares of the data storage provider’s stock worth $888,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. UBS Group dropped their price target on shares of Western Digital from $560.00 to $525.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Robert W. Baird set a $630.00 target price on shares of Western Digital in a report on Thursday, August 6th. Bank of America lifted their target price on shares of Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Citigroup dropped their target price on shares of Western Digital from $800.00 to $740.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Finally, Melius Research set a $1,050.00 price target on shares of Western Digital and gave the company a “buy” rating in a report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Western Digital presently has an average rating of “Moderate Buy” and a consensus target price of $534.56.

Western Digital Price Performance

Western Digital stock opened at $459.44 on Friday. Western Digital Corporation has a one year low of $74.57 and a one year high of $799.87. The business’s fifty day moving average is $552.24 and its 200 day moving average is $433.31. The stock has a market capitalization of $158.36 billion, a PE ratio of 18.98 and a beta of 2.14.

Western Digital (NASDAQ:WDC) last issued its 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 business had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.70 billion. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.Western Digital’s revenue was up 43.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.66 EPS. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. As a group, sell-side analysts expect that Western Digital Corporation will post 19.65 EPS for the current fiscal year.

Western Digital Announces Dividend

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

Insider Activity 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 transaction of $427,941.04. Following the transaction, the insider directly owned 114,539 shares of the company’s stock, valued at $60,663,290.57. This represents a 0.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was 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 in the company, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,679 shares of company stock worth $11,451,605 in the last three months. 0.18% of the stock is currently owned by company insiders.

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.