Moore Capital Management LP Purchases 2,193 Shares of Western Digital Corporation $WDC

Moore Capital Management LP boosted its position in Western Digital Corporation (NASDAQ:WDC) by 249.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,073 shares of the data storage provider’s stock after buying an additional 2,193 shares during the quarter. Moore Capital Management LP’s holdings in Western Digital were worth $1,963,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Sigma Planning Corp bought a new position in shares of Western Digital during the 2nd quarter worth approximately $448,000. GTS Securities LLC lifted its position in shares of Western Digital by 373.2% in the second quarter. GTS Securities LLC now owns 12,918 shares of the data storage provider’s stock worth $8,251,000 after purchasing an additional 10,188 shares in the last quarter. Flputnam Investment Management Co. acquired a new position in Western Digital during the second quarter worth $252,000. Northwestern Mutual Wealth Management Co. grew its position in Western Digital by 65.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 42,118 shares of the data storage provider’s stock valued at $26,901,000 after purchasing an additional 16,694 shares in the last quarter. Finally, Rational Advisors Inc. acquired a new stake in Western Digital in the 2nd quarter valued at $5,301,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WDC. Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Weiss Ratings cut Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Susquehanna raised their price target on Western Digital from $360.00 to $500.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Fox Advisors lowered Western Digital from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Finally, Rosenblatt Securities dropped their price objective on Western Digital from $900.00 to $800.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and an average target price of $534.56.

Insiders Place Their Bets

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total value of $8,899,400.00. Following the completion of the sale, the chief executive officer owned 575,966 shares of the company’s stock, valued at $256,287,591.02. The trade was a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 1,007 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $478.36, for a total transaction of $481,708.52. Following the transaction, the insider owned 112,155 shares in the company, valued at approximately $53,650,465.80. The trade was a 0.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 23,642 shares of company stock worth $10,676,659. Insiders own 0.18% of the company’s stock.

Western Digital Stock Down 1.9%

WDC opened at $450.55 on Tuesday. The stock has a market cap of $155.30 billion, a price-to-earnings ratio of 18.61 and a beta of 2.14. Western Digital Corporation has a 12-month low of $77.90 and a 12-month high of $799.87. The business has a 50 day moving average of $521.35 and a 200-day moving average of $442.03.

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

Western Digital Dividend Announcement

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

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.