Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $433,000 in Western Digital Corporation $WDC

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Western Digital Corporation (NASDAQ:WDC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,515 shares of the data storage provider’s stock, valued at approximately $433,000.

Other institutional investors have also recently modified their holdings of the company. Rakuten Securities Inc. grew its stake in shares of Western Digital by 4,070.0% in the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 407 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in shares of Western Digital by 551.4% in the third quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 204 shares during the last quarter. Westfuller Advisors LLC purchased a new stake in shares of Western Digital in the third quarter worth $30,000. Avion Wealth grew its stake in shares of Western Digital by 163.8% in the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 113 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its stake in shares of Western Digital by 207.0% in the third quarter. Cornerstone Planning Group LLC now owns 264 shares of the data storage provider’s stock worth $32,000 after acquiring an additional 178 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 9,324 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $268.27, for a total value of $2,501,349.48. Following the transaction, the insider owned 121,682 shares of the company’s stock, valued at approximately $32,643,630.14. This represents a 7.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $411.84, for a total value of $8,236,800.00. Following the completion of the transaction, the chief executive officer directly owned 598,150 shares in the company, valued at approximately $246,342,096. This represents a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 53,785 shares of company stock valued at $18,097,954. 0.18% of the stock is owned by company insiders.

Western Digital Stock Performance

WDC stock opened at $484.28 on Friday. Western Digital Corporation has a fifty-two week low of $49.00 and a fifty-two week high of $525.15. The business’s 50-day moving average is $373.02 and its two-hundred day moving average is $268.41. The company has a market cap of $166.92 billion, a price-to-earnings ratio of 28.91 and a beta of 2.10.

Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the company earned $1.36 earnings per share. Western Digital’s revenue was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities analysts predict that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be issued a $0.15 dividend. This is a positive change from Western Digital’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Friday, June 5th. Western Digital’s dividend payout ratio is currently 2.99%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WDC shares. Wedbush reaffirmed an “outperform” rating and set a $325.00 price target on shares of Western Digital in a report on Monday, February 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $488.00 price target on shares of Western Digital in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price target on Western Digital from $320.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. TD Cowen upped their price target on Western Digital from $325.00 to $500.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Truist Financial set a $310.00 price target on Western Digital in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Western Digital presently has an average rating of “Moderate Buy” and a consensus price target of $395.83.

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.