Florida Financial Advisors LLC Purchases 2,602 Shares of Western Digital Corporation $WDC

Florida Financial Advisors LLC raised its position in shares of Western Digital Corporation (NASDAQ:WDC) by 26.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,455 shares of the data storage provider’s stock after buying an additional 2,602 shares during the quarter. Western Digital comprises approximately 0.8% of Florida Financial Advisors LLC’s portfolio, making the stock its 24th biggest position. Florida Financial Advisors LLC’s holdings in Western Digital were worth $3,369,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Valley Wealth Managers Inc. bought a new position in shares of Western Digital in the 1st quarter worth about $32,000. Catalyst Capital Advisors LLC bought a new stake in Western Digital during the first quarter worth about $35,000. Cornerstone Planning Group LLC grew its holdings in Western Digital by 33.3% in the first quarter. Cornerstone Planning Group LLC now owns 132 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 33 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Western Digital by 80.2% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 146 shares of the data storage provider’s stock worth $39,000 after purchasing an additional 65 shares during the period. Finally, Global Trust Asset Management LLC bought a new position in shares of Western Digital during the first quarter valued at approximately $47,000. Institutional investors own 92.51% of the company’s stock.

Trending Headlines about Western Digital

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

Insider Buying and Selling at Western Digital

In other Western Digital news, Director Bruce E. Kiddoo sold 750 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the sale, the director directly owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the 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 completion of the transaction, the chief executive officer owned 598,150 shares in the company, valued at $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. 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 three months, 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 Stock Performance

WDC stock 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’s 50-day moving average is $560.32 and its two-hundred day moving average is $388.23. The company has a market cap of $168.00 billion, a price-to-earnings ratio of 29.10 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results 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. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the previous year, the company posted $1.36 EPS. The business’s quarterly revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities analysts predict that Western Digital Corporation will post 9.61 earnings per share for the current year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.1%. This is a positive change from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 5th. Western Digital’s dividend payout ratio (DPR) is presently 3.58%.

Analyst Ratings Changes

Several research firms have recently issued reports on WDC. Barclays lifted their target price on shares of Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Rosenblatt Securities upped their price target on Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Wells Fargo & Company raised their price objective on Western Digital from $575.00 to $730.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Susquehanna lifted their price objective on Western Digital from $360.00 to $500.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Finally, Sanford C. Bernstein raised Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 target price on the stock in a report on Tuesday, March 31st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus 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.