Legacy Wealth Managment LLC ID Lowers Stock Holdings in Western Digital Corporation $WDC

Legacy Wealth Managment LLC ID lowered its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 36.0% during the second quarter, HoldingsChannel.com reports. The firm owned 4,722 shares of the data storage provider’s stock after selling 2,661 shares during the period. Western Digital makes up approximately 1.3% of Legacy Wealth Managment LLC ID’s holdings, making the stock its 20th largest holding. Legacy Wealth Managment LLC ID’s holdings in Western Digital were worth $3,016,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Dogwood Wealth Management LLC raised its stake in shares of Western Digital by 28.6% during the 2nd quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock worth $57,000 after buying an additional 20 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in Western Digital by 1.0% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 2,302 shares of the data storage provider’s stock worth $1,470,000 after acquiring an additional 22 shares in the last quarter. Everpar Advisors LLC raised its position in 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 acquiring an additional 25 shares during the period. Ares Financial Consulting LLC raised its position in 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 acquiring an additional 25 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its holdings in Western Digital by 2.1% during the second quarter. Dynamic Advisor Solutions LLC now owns 1,390 shares of the data storage provider’s stock valued at $888,000 after purchasing an additional 28 shares in the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Cynthia L. Tregillis sold 1,007 shares of Western Digital stock in a transaction that occurred 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 in the company, valued at approximately $53,650,465.80. This trade represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total value of $8,899,400.00. Following the transaction, 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 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. Insiders sold 23,210 shares of company stock valued at $10,440,960 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Western Digital Stock Down 1.6%

Shares of NASDAQ WDC opened at $441.57 on Friday. The firm has a 50-day simple moving average of $508.41 and a 200-day simple moving average of $445.56. The stock has a market capitalization of $152.20 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 1.90 and a beta of 2.13. Western Digital Corporation has a 52 week low of $85.92 and a 52 week high of $799.87.

Western Digital (NASDAQ:WDC) last posted 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. 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 for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the business 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. As a group, equities research analysts expect that Western Digital Corporation will post 19.65 EPS for the current year.

Western Digital Dividend Announcement

The business also recently announced 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 is Tuesday, September 8th. Western Digital’s payout ratio is currently 2.48%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on WDC shares. Jefferies Financial Group set a $575.00 target price on shares of Western Digital in a research report on Tuesday, May 26th. Bank of America upped their price target on shares of Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. lifted their price objective on Western Digital from $530.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Barclays boosted their price objective on Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Finally, Mizuho set a $590.00 target price on Western Digital in a report on Thursday, August 6th. Two research 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. According to data from MarketBeat, the company 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.