Landscape Capital Management L.L.C. Takes $4.23 Million Position in Western Digital Corporation $WDC

Landscape Capital Management L.L.C. purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the 2nd quarter, Holdings Channel reports. The fund purchased 6,616 shares of the data storage provider’s stock, valued at approximately $4,226,000.

A number of other institutional investors also recently bought and sold shares of the stock. Mowery & Schoenfeld Wealth Management LLC bought a new position in Western Digital during the second quarter valued at $28,000. Dunhill Financial LLC bought a new stake in shares of Western Digital in the 2nd quarter worth about $29,000. Gables Capital Management Inc. bought a new stake in shares of Western Digital in the 2nd quarter worth about $32,000. Ares Financial Consulting LLC boosted its stake in shares of Western Digital by 45.5% during the 2nd quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock worth $51,000 after purchasing an additional 25 shares during the period. Finally, Dogwood Wealth Management LLC boosted its stake in shares of Western Digital by 28.6% during the 2nd quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock worth $57,000 after purchasing an additional 20 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Rosenblatt Securities reduced their price objective on shares of Western Digital from $900.00 to $800.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Robert W. Baird set a $630.00 target price on Western Digital in a research report on Thursday, August 6th. Weiss Ratings cut Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Evercore reiterated an “outperform” rating and issued a $575.00 price target on shares of Western Digital in a report on Tuesday, May 26th. Finally, Bank of America raised their price target on Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $534.56.

Western Digital Price Performance

WDC stock opened at $459.44 on Friday. The company has a market capitalization of $158.36 billion, a PE ratio of 18.98 and a beta of 2.14. Western Digital Corporation has a 12 month low of $74.57 and a 12 month high of $799.87. The firm’s 50-day moving average is $552.24 and its 200 day moving average is $433.31.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.25. The company had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.70 billion. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The firm’s revenue for the quarter was up 43.8% on a year-over-year basis. During the same quarter last year, the business posted $1.66 EPS. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Sell-side analysts forecast that Western Digital Corporation will post 19.65 EPS for the current fiscal year.

Western Digital Dividend Announcement

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

Insider Transactions at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 808 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total transaction of $427,941.04. Following the transaction, the insider directly owned 114,539 shares in the company, valued at $60,663,290.57. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the sale, the director directly owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,679 shares of company stock worth $11,451,605 over the last three months. Company insiders own 0.18% of the company’s stock.

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.