Western Digital Corporation $WDC Shares Bought by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft grew its position in shares of Western Digital Corporation (NASDAQ:WDC) by 72.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 14,413 shares of the data storage provider’s stock after purchasing an additional 6,065 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Western Digital were worth $3,685,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Western Digital by 7.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock worth $1,698,000 after acquiring an additional 3,019 shares during the period. Geneos Wealth Management Inc. boosted its stake in Western Digital by 229.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after purchasing an additional 967 shares during the period. Sivia Capital Partners LLC bought a new position in Western Digital in the 2nd quarter worth about $307,000. Cresset Asset Management LLC bought a new position in Western Digital in the 2nd quarter worth about $292,000. Finally, Federated Hermes Inc. increased its stake in shares of Western Digital by 55.3% in the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after purchasing an additional 845 shares during the period. Institutional investors own 92.51% of the company’s stock.

Insider Transactions at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 598,150 shares of the company’s stock, valued at approximately $246,342,096. This trade represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of Western Digital stock in a transaction on Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the completion of the transaction, the insider owned 85,154 shares in the company, valued at $47,366,060.96. This trade represents a 2.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 28,959 shares of company stock valued at $12,631,666 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WDC. Zacks Research raised Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Rosenblatt Securities raised their target price on Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Fox Advisors cut Western Digital from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Wells Fargo & Company lifted their target price on Western Digital from $575.00 to $730.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Finally, Bank of America boosted their price target on Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Two research 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $520.32.

Key Stories Impacting 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

Western Digital Stock Up 2.1%

Western Digital stock opened at $487.42 on Tuesday. The company’s fifty day simple moving average is $560.32 and its 200-day simple moving average is $388.23. Western Digital Corporation has a 12 month low of $66.04 and a 12 month high of $799.87. The stock 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 announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.33. The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.Western Digital’s quarterly revenue was up 45.5% compared to the same quarter last year. 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 research analysts expect that Western Digital Corporation will post 9.61 earnings per share for the current fiscal year.

Western Digital Increases Dividend

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

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.