Nordea Investment Management AB Buys 38,568 Shares of Western Digital Corporation $WDC

Nordea Investment Management AB lifted its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 126.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,002 shares of the data storage provider’s stock after acquiring an additional 38,568 shares during the quarter. Nordea Investment Management AB’s holdings in Western Digital were worth $8,347,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its position in shares of Western Digital by 124.5% in the third quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 117 shares during the period. Grove Bank & Trust bought a new position in Western Digital in the 3rd quarter worth $30,000. True Wealth Design LLC boosted its holdings in Western Digital by 131.9% in the 3rd quarter. True Wealth Design LLC now owns 385 shares of the data storage provider’s stock worth $46,000 after buying an additional 219 shares during the period. Private Wealth Management Group LLC raised its holdings in Western Digital by 102.5% during the second quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock valued at $26,000 after acquiring an additional 202 shares during the period. Finally, Rakuten Securities Inc. raised its holdings in Western Digital by 4,070.0% during the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 407 shares during the period. Institutional investors own 92.51% of the company’s stock.

Western Digital Stock Performance

Western Digital stock opened at $221.51 on Friday. The company’s 50-day moving average price is $175.73 and its 200-day moving average price is $124.02. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.42. The company has a market cap of $75.73 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.37 and a beta of 1.78. Western Digital Corporation has a twelve month low of $28.83 and a twelve month high of $230.48.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, October 30th. The data storage provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.57 by $0.21. Western Digital had a return on equity of 30.89% and a net margin of 21.37%.The company had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same quarter last year, the business posted $1.78 earnings per share. The firm’s revenue was up 27.4% on a year-over-year basis. Western Digital has set its Q2 2026 guidance at 1.730-2.030 EPS. On average, equities research analysts forecast that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.2%. The ex-dividend date was Thursday, December 4th. This is a boost from Western Digital’s previous quarterly dividend of $0.10. Western Digital’s payout ratio is currently 7.28%.

Analysts Set New Price Targets

Several research firms recently issued reports on WDC. Cowen reiterated a “buy” rating on shares of Western Digital in a research report on Friday, October 31st. TD Cowen increased their price objective on shares of Western Digital from $90.00 to $200.00 and gave the company a “buy” rating in a report on Friday, October 31st. Susquehanna boosted their target price on shares of Western Digital from $135.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. raised their target price on shares of Western Digital from $94.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Western Digital in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and a consensus price target of $189.05.

Insider Buying and Selling

In other Western Digital news, Director Roxanne Oulman sold 1,800 shares of Western Digital stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $154.42, for a total transaction of $277,956.00. Following the completion of the transaction, the director directly owned 3,863 shares of the company’s stock, valued at $596,524.46. The trade was a 31.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cynthia L. Tregillis sold 2,801 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $160.57, for a total transaction of $449,756.57. Following the completion of the sale, the insider directly owned 144,596 shares in the company, valued at approximately $23,217,779.72. This represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 26,369 shares of company stock valued at $4,013,785 in the last three months. Corporate insiders own 0.18% of the company’s stock.

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.