Quantinno Capital Management LP Sells 34,550 Shares of Western Digital Corporation $WDC

Quantinno Capital Management LP decreased its stake in Western Digital Corporation (NASDAQ:WDC) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 338,635 shares of the data storage provider’s stock after selling 34,550 shares during the period. Quantinno Capital Management LP’s holdings in Western Digital were worth $91,597,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GHP Investment Advisors Inc. increased its holdings in shares of Western Digital by 9.2% during the first quarter. GHP Investment Advisors Inc. now owns 357 shares of the data storage provider’s stock worth $97,000 after buying an additional 30 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of Western Digital by 33.3% during 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 in the last quarter. Alps Advisors Inc. boosted its holdings in shares of Western Digital by 0.8% during 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 in the last quarter. Astoria Portfolio Advisors LLC. grew its position in Western Digital by 1.1% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 3,782 shares of the data storage provider’s stock worth $1,023,000 after acquiring an additional 40 shares during the last quarter. Finally, Quadcap Wealth Management LLC grew its position in Western Digital by 2.1% during the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock worth $346,000 after acquiring an additional 41 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling

In related news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the transaction, the chief executive officer owned 598,150 shares of the company’s stock, valued at $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $545.60, for a total value of $235,699.20. Following the completion of the sale, the insider directly owned 116,643 shares of the company’s stock, valued at $63,640,420.80. The trade was a 0.37% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 28,959 shares of company stock valued at $12,631,666. 0.18% of the stock is owned by company insiders.

Western Digital Trading Down 4.2%

Shares of WDC stock opened at $497.92 on Tuesday. Western Digital Corporation has a 12 month low of $68.67 and a 12 month high of $799.87. The firm has a market capitalization of $171.62 billion, a PE ratio of 29.73 and a beta of 2.11. The firm has a fifty day simple moving average of $565.69 and a two-hundred day simple moving average of $400.49.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business’s revenue was up 45.5% on a year-over-year basis. During the same period last year, the company earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities analysts predict that Western Digital Corporation will post 9.61 earnings per share for the current fiscal year.

Western Digital Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts have commented on WDC shares. Wells Fargo & Company increased their target price on Western Digital from $575.00 to $730.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Evercore restated an “outperform” rating and set a $575.00 price target on shares of Western Digital in a report on Tuesday, May 26th. JPMorgan Chase & Co. upped their price objective on Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Melius Research set a $1,050.00 price objective on shares of Western Digital and gave the company a “buy” rating in a report on Monday, June 29th. Finally, Weiss Ratings upgraded shares of Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and a consensus target price of $520.32.

Western Digital Company 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.