1,238 Shares in Western Digital Corporation $WDC Purchased by Compass Financial Management LLC

Compass Financial Management LLC acquired a new position in shares of Western Digital Corporation (NASDAQ:WDC) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,238 shares of the data storage provider’s stock, valued at approximately $756,000.

Several other hedge funds have also recently bought and sold shares of WDC. Elevation Point Wealth Partners LLC acquired a new position in Western Digital during the second quarter valued at approximately $27,269,000. Greenland Capital Management LP acquired a new stake in shares of Western Digital in the 2nd quarter valued at $505,000. Alta Advisers Ltd bought a new position in shares of Western Digital in the 2nd quarter valued at $11,735,000. Daiichi Life Insurance Co. Ltd. acquired a new position in shares of Western Digital during the 2nd quarter worth $10,267,000. Finally, Commerce Bank acquired a new position in shares of Western Digital during the 2nd quarter worth $10,750,000. 92.51% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Irving Tan sold 20,000 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly owned 575,966 shares in the company, valued at $256,287,591.02. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of Western Digital stock in a transaction on Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the transaction, the insider directly owned 85,154 shares of the company’s stock, valued at $47,366,060.96. This represents a 2.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,679 shares of company stock worth $11,451,605 in the last 90 days. 0.18% of the stock is owned by company insiders.

Western Digital Price Performance

NASDAQ WDC opened at $459.44 on Monday. The stock has a fifty day simple moving average of $552.24 and a 200 day simple moving average of $434.46. Western Digital Corporation has a twelve month low of $74.57 and a twelve month high of $799.87. The company has a market capitalization of $158.36 billion, a price-to-earnings ratio of 18.98 and a beta of 2.14.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.25. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The company had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the firm posted $1.66 earnings per share. The business’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 Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WDC. Mizuho set a $590.00 price objective on Western Digital in a research note on Thursday, August 6th. Jefferies Financial Group set a $575.00 price objective on shares of Western Digital in a research note on Tuesday, May 26th. Evercore restated an “outperform” rating and issued a $575.00 target price on shares of Western Digital in a research report on Tuesday, May 26th. Rosenblatt Securities decreased their target price on shares of Western Digital from $900.00 to $800.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $534.56.

About Western Digital

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.