Keebeck Wealth Management Buys New Position in Western Digital Corporation $WDC

Keebeck Wealth Management purchased a new position in Western Digital Corporation (NASDAQ:WDC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,559 shares of the data storage provider’s stock, valued at approximately $996,000.

Several other large investors have also added to or reduced their stakes in WDC. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Western Digital during the 2nd quarter valued at $28,000. Dunhill Financial LLC purchased a new stake in shares of Western Digital in the 2nd quarter worth about $29,000. Gables Capital Management Inc. bought a new stake in shares of Western Digital during the 2nd quarter valued at about $32,000. Ares Financial Consulting LLC boosted its stake in shares of Western Digital by 45.5% during the 2nd quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock valued at $51,000 after purchasing an additional 25 shares in the last quarter. Finally, Dogwood Wealth Management LLC increased its position in shares of Western Digital by 28.6% during the second quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock valued at $57,000 after buying an additional 20 shares during the period. Institutional investors own 92.51% of the company’s stock.

Western Digital Price Performance

Shares of NASDAQ WDC opened at $459.44 on Friday. Western Digital Corporation has a 1 year low of $74.57 and a 1 year high of $799.87. The stock has a market cap of $158.36 billion, a P/E ratio of 18.98 and a beta of 2.14. The firm has a 50-day moving average of $552.24 and a 200 day moving average of $433.31.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data 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. The business had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.70 billion. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. During the same quarter in the previous year, the firm posted $1.66 earnings per share. Western Digital’s quarterly 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. Research analysts expect that Western Digital Corporation will post 19.65 earnings per share for the current fiscal year.

Western Digital Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently issued reports on WDC. Citigroup decreased their price target on shares of Western Digital from $800.00 to $740.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Summit Insights cut Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 6th. Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Morgan Stanley reissued an “overweight” rating and issued a $676.00 target price on shares of Western Digital in a research report on Thursday, August 6th. Finally, Fox Advisors cut Western Digital from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $534.56.

Insider Buying and Selling

In related news, insider Cynthia L. Tregillis sold 808 shares of the company’s stock in a transaction that occurred 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 owned 114,539 shares in the company, valued at $60,663,290.57. This represents a 0.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 that occurred 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 transaction, the director directly 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 position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 24,679 shares of company stock worth $11,451,605. 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.