Pure Financial Advisors LLC Takes $4.34 Million Position in Western Digital Corporation $WDC

Pure Financial Advisors LLC bought a new position in shares of Western Digital Corporation (NASDAQ:WDC) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,794 shares of the data storage provider’s stock, valued at approximately $4,340,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Dogwood Wealth Management LLC raised its holdings in Western Digital by 28.6% in the 2nd quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock valued at $57,000 after acquiring an additional 20 shares during the period. Legacy Wealth Asset Management LLC grew its position in shares of Western Digital by 1.0% in 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 purchasing an additional 22 shares during the last quarter. Everpar Advisors LLC grew its position in shares of Western Digital by 1.8% in the second quarter. Everpar Advisors LLC now owns 1,442 shares of the data storage provider’s stock valued at $921,000 after purchasing an additional 25 shares during the last quarter. Ares Financial Consulting LLC increased its stake in shares of Western Digital by 45.5% during the second 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 period. Finally, Dynamic Advisor Solutions LLC lifted its holdings in Western Digital by 2.1% during 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. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Price Performance

Shares of WDC opened at $468.88 on Thursday. The firm has a 50 day simple moving average of $538.41 and a two-hundred day simple moving average of $438.22. Western Digital Corporation has a one year low of $77.90 and a one year high of $799.87. The company has a market cap of $161.61 billion, a P/E ratio of 19.37 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, beating analysts’ consensus estimates of $3.31 by $0.25. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the business posted $1.66 EPS. The company’s 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, analysts expect that Western Digital Corporation will post 19.65 earnings per share for the current fiscal year.

Western Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend 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%.

Insider Transactions at Western Digital

In other news, insider Vidyadhara K. Gubbi sold 2,475 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the sale, the insider directly owned 85,154 shares in the company, valued at approximately $47,366,060.96. This trade represents a 2.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the sale, the chief executive officer directly owned 575,966 shares in the company, valued at $256,287,591.02. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 24,634 shares of company stock valued at $11,357,073. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WDC has been the subject of a number of research reports. Cantor Fitzgerald lifted their target price on Western Digital from $660.00 to $900.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Mizuho set a $590.00 price target on shares of Western Digital in a research report on Thursday, August 6th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $400.00 price target on shares of Western Digital in a research note on Friday, May 1st. Jefferies Financial Group set a $575.00 price target on Western Digital in a research report on Tuesday, May 26th. Finally, Citigroup lowered their price objective on Western Digital from $800.00 to $740.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and a consensus price target of $534.56.

Western Digital News Roundup

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: Western Digital disclosed exchange agreements covering approximately $191 million of its 3.00% convertible notes due 2028. The transaction will provide holders with cash and shares, potentially reducing debt, although the stock component could create some dilution. The exchanges are expected to close on or after September 2. Western Digital convertible notes article
• Positive Sentiment: Investors continue to see support from AI, cloud and data-center demand. Western Digital recently reported quarterly revenue of $3.75 billion, up 43.8% year over year, and non-GAAP EPS of $3.56 versus the $3.31 consensus. Management’s next-quarter outlook also points to continued strong growth. Western Digital debt exchange and AI demand analysis
• Positive Sentiment: A hammer chart pattern suggests technical support after the stock’s recent decline, while upward earnings-estimate revisions may improve the likelihood of a near-term rebound. Western Digital bottoming pattern article
• Neutral Sentiment: Analyst sentiment remains broadly favorable, with a consensus “Moderate Buy” rating and a median recent price target of approximately $597.50. However, targets vary widely, reflecting uncertainty around valuation and execution.
• Negative Sentiment: Western Digital is assessing potential effects from new U.S. sanctions related to Iran, including possible compliance costs, supply-chain disruptions and impacts on contract manufacturing or shipments. Western Digital Iran sanctions exposure article
• Negative Sentiment: Insider activity has been heavily weighted toward sales, including transactions by executives and directors. The reported sales were made under pre-arranged trading plans, reducing their significance, but they remain a potential overhang for sentiment.
• Negative Sentiment: Broader caution toward highly valued AI and memory stocks, ahead of Nvidia’s earnings, and concerns about potential Chinese memory competition could pressure sector valuations and future pricing.

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.