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

Legacy Wealth Managment LLC ID boosted its position in Western Digital Corporation (NASDAQ:WDC) by 105,371.4% in the first quarter, HoldingsChannel reports. The firm owned 7,383 shares of the data storage provider’s stock after buying an additional 7,376 shares during the quarter. Western Digital accounts for about 1.0% 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 $1,997,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Western Digital in the fourth quarter worth $788,729,000. Northern Trust Corp increased its position in shares of Western Digital by 11.2% during the 3rd quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock valued at $456,884,000 after purchasing an additional 384,103 shares during the last quarter. Soroban Capital Partners LP increased its position in shares of Western Digital by 1,926.3% during the 2nd quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock valued at $195,882,000 after purchasing an additional 2,910,062 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Western Digital by 70.4% during the 4th quarter. AQR Capital Management LLC now owns 2,972,703 shares of the data storage provider’s stock worth $512,107,000 after purchasing an additional 1,228,661 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Western Digital by 6.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,809,409 shares of the data storage provider’s stock worth $483,977,000 after purchasing an additional 159,167 shares during the period. Institutional investors own 92.51% of the company’s stock.

Western Digital News Roundup

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: Western Digital is benefiting from a rebound in memory stocks as investors step back in after last week’s selloff, improving sentiment across the semiconductor group. Micron Jumps 5%, SanDisk Rises 6%, Western Digital Climbs 4% as Memory Stocks Rebound With Chips
• Positive Sentiment: Morgan Stanley’s view that the memory-stock selloff created a strong entry point is encouraging dip-buying in Western Digital and other chip names. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Neutral Sentiment: Western Digital Malaysia was recognized for advancing sustainable AI infrastructure, which supports the company’s AI narrative but is unlikely to be the main stock-moving catalyst today. WD Malaysia Recognized for Advancing Sustainable AI Infrastructure

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WDC. Citigroup increased their price target on shares of Western Digital from $685.00 to $800.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Melius Research set a $1,050.00 price objective on shares of Western Digital and gave the stock a “buy” rating in a research report on Monday, June 29th. Susquehanna boosted their target price on shares of Western Digital from $360.00 to $500.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. TD Cowen increased their target price on shares of Western Digital from $325.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, UBS Group restated a “neutral” rating and set a $560.00 price target on shares of Western Digital in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $520.32.

Western Digital Stock Performance

Shares of WDC opened at $487.42 on Tuesday. Western Digital Corporation has a fifty-two week low of $66.04 and a fifty-two week high of $799.87. The business has a 50-day moving average of $560.32 and a 200 day moving average of $388.23. The firm has a market cap of $168.00 billion, a P/E ratio of 29.10 and a beta of 2.11.

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. The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company’s revenue was up 45.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, research analysts predict that Western Digital Corporation will post 9.61 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 5th. Western Digital’s payout ratio is presently 3.58%.

Insider Buying and Selling at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 2,475 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the sale, the insider owned 85,154 shares of the company’s stock, valued at $47,366,060.96. The trade was a 2.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Irving Tan sold 20,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $411.84, for a total value of $8,236,800.00. Following the sale, the chief executive officer 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 28,959 shares of company stock valued at $12,631,666. 0.18% of the stock is owned by corporate insiders.

Western Digital 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.