Wealth Enhancement Advisory Services LLC Grows Stake in Western Digital Corporation $WDC

Wealth Enhancement Advisory Services LLC increased its stake in Western Digital Corporation (NASDAQ:WDC) by 94.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 56,058 shares of the data storage provider’s stock after acquiring an additional 27,220 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Western Digital were worth $3,704,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new position in Western Digital in the first quarter worth about $29,000. Allworth Financial LP boosted its position in shares of Western Digital by 34.1% during the first quarter. Allworth Financial LP now owns 955 shares of the data storage provider’s stock valued at $38,000 after buying an additional 243 shares during the period. MorganRosel Wealth Management LLC purchased a new position in shares of Western Digital during the first quarter valued at approximately $40,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Western Digital by 242.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,208 shares of the data storage provider’s stock valued at $49,000 after buying an additional 855 shares during the period. Finally, Brooklyn Investment Group boosted its position in shares of Western Digital by 91.2% during the first quarter. Brooklyn Investment Group now owns 1,279 shares of the data storage provider’s stock valued at $52,000 after buying an additional 610 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Activity

In other news, CEO Irving Tan sold 8,621 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $75.90, for a total transaction of $654,333.90. Following the sale, the chief executive officer directly owned 594,836 shares of the company’s stock, valued at $45,148,052.40. This represents a 1.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cynthia L. Tregillis sold 14,067 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the sale, the insider directly owned 135,351 shares in the company, valued at approximately $10,121,547.78. The trade was a 9.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,730 shares of company stock valued at $3,921,594. Insiders own 0.30% of the company’s stock.

Western Digital Price Performance

NASDAQ:WDC opened at $106.88 on Friday. The firm’s fifty day moving average is $84.34 and its two-hundred day moving average is $61.45. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.08. Western Digital Corporation has a one year low of $28.83 and a one year high of $113.75. The firm has a market cap of $37.29 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 0.92 and a beta of 1.69.

Western Digital (NASDAQ:WDC) last posted its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.18. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period in the prior year, the company posted $1.44 EPS. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. Research analysts expect that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, September 4th. Western Digital’s dividend payout ratio is presently 7.77%.

Analysts Set New Price Targets

Several research analysts have issued reports on WDC shares. TD Cowen boosted their target price on Western Digital from $58.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Citigroup boosted their target price on Western Digital from $88.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Bank of America boosted their target price on Western Digital from $123.00 to $141.00 and gave the company a “buy” rating in a research report on Wednesday. Wedbush lifted their price target on shares of Western Digital from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Finally, Zacks Research downgraded shares of Western Digital from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.63.

Western Digital Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.