Western Digital (NASDAQ:WDC) Insider Cynthia Tregillis Sells 106 Shares

Western Digital Corporation (NASDAQ:WDC) insider Cynthia Tregillis sold 106 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $458.87, for a total value of $48,640.22. Following the completion of the sale, the insider owned 118,443 shares of the company’s stock, valued at $54,349,939.41. The trade was a 0.09% decrease in their position. The sale 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.

Western Digital Stock Down 0.4%

WDC stock traded down $2.18 during trading on Friday, reaching $484.28. The company’s stock had a trading volume of 4,481,718 shares, compared to its average volume of 8,054,644. Western Digital Corporation has a 1 year low of $49.00 and a 1 year high of $525.15. The company has a market capitalization of $166.92 billion, a P/E ratio of 28.91 and a beta of 2.10. The company’s fifty day moving average is $373.02 and its 200-day moving average is $268.41.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. The business’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. Analysts anticipate that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. GHP Investment Advisors Inc. lifted its holdings in shares of Western Digital by 9.2% in the 1st quarter. GHP Investment Advisors Inc. now owns 357 shares of the data storage provider’s stock valued at $97,000 after acquiring an additional 30 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of Western Digital by 33.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 33 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of Western Digital by 0.8% in the 4th quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider’s stock valued at $811,000 after acquiring an additional 37 shares during the last quarter. Astoria Portfolio Advisors LLC. lifted its holdings in shares of Western Digital by 1.1% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 3,782 shares of the data storage provider’s stock valued at $1,023,000 after acquiring an additional 40 shares during the last quarter. Finally, Quadcap Wealth Management LLC lifted its holdings in shares of Western Digital by 2.1% in the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock valued at $346,000 after acquiring an additional 41 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Analyst Ratings Changes

WDC has been the subject of several research reports. Argus set a $300.00 price objective on shares of Western Digital in a report on Tuesday, February 3rd. Bank of America increased their price objective on shares of Western Digital to $495.00 and gave the company a “buy” rating in a report on Monday, April 27th. New Street Research set a $250.00 price objective on shares of Western Digital in a report on Tuesday, February 3rd. Evercore reissued an “outperform” rating and set a $500.00 price objective on shares of Western Digital in a report on Friday, May 1st. Finally, Wall Street Zen raised shares of Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.