IFP Advisors Inc Has $191,000 Holdings in Western Digital Corporation $WDC

IFP Advisors Inc trimmed its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 93.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,484 shares of the data storage provider’s stock after selling 20,337 shares during the quarter. IFP Advisors Inc’s holdings in Western Digital were worth $191,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Western Digital by 7.7% during 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 purchasing an additional 3,019 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Western Digital by 229.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after buying an additional 967 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Western Digital in the second quarter valued at approximately $307,000. Franklin Resources Inc. boosted its stake in shares of Western Digital by 93.6% in the second quarter. Franklin Resources Inc. now owns 44,376 shares of the data storage provider’s stock valued at $2,840,000 after buying an additional 21,453 shares during the period. Finally, Choreo LLC grew its position in Western Digital by 69.2% during the second quarter. Choreo LLC now owns 9,402 shares of the data storage provider’s stock worth $602,000 after buying an additional 3,845 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital News Summary

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: Cloud growth and margin upside highlighted as a key thesis for WDC’s next leg of revenue and margin expansion. Western Digital: Cloud Key Driver To Growth And Margins
• Positive Sentiment: Technical market action: a recent trading signal coincided with a rebound in WDC shares, supporting near-term momentum. Western Digital Shares Rebound, Climb 3% After Key Trading Signal
• Positive Sentiment: Analyst comparisons favor WDC over peers like NetApp on AI-driven storage demand and cash returns, reinforcing buy-case narratives. Western Digital vs. NetApp: Which Data Storage Stock is the Better Buy?
• Positive Sentiment: WD is part of an open-source quantum error correction collaboration (OQD + QuScript), signaling R&D breadth that may support longer-term enterprise opportunities. OQD Launches Open-Source Collaboration with WD and QuScript to Advance Quantum Error Correction
• Neutral Sentiment: Retail promotions and deep discounts on WD-branded SSDs/HDDs (Amazon/Best Buy sales) could boost volume but also reflect aggressive consumer pricing. Upgrade your NAS storage with this WD 2TB SSD – now $240 off during Amazon’s Spring Sale
• Negative Sentiment: Google’s new TurboQuant algorithm has raised investor concerns that AI models could require materially less memory, potentially reducing hardware demand long-term. Google Just Unveiled TurboQuant: Should You Sell Sandisk Stock Now?
• Negative Sentiment: Sector reaction and a Micron selloff reflect investor skepticism about how sustainable AI-driven memory demand will be if efficiency improvements proliferate. Micron Drop Raises A Bigger AI Question
• Negative Sentiment: Broader market and interest-rate concerns are pressuring computer and memory stocks generally, tempering upside for WDC despite company-level positives. SNDK, WDC and STX Forecasts – Computer Companies Fall with Everything Else

Analysts Set New Price Targets

Several equities analysts have weighed in on WDC shares. Weiss Ratings raised Western Digital from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 2nd. TD Cowen increased their target price on Western Digital from $200.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Argus set a $300.00 price target on Western Digital in a research report on Tuesday, February 3rd. Susquehanna reaffirmed a “neutral” rating and issued a $285.00 price target on shares of Western Digital in a research note on Friday, February 6th. Finally, Wells Fargo & Company upped their price objective on shares of Western Digital from $260.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Western Digital presently has an average rating of “Moderate Buy” and an average price target of $265.58.

Western Digital Trading Up 0.7%

Shares of WDC stock opened at $275.34 on Friday. The stock’s fifty day moving average price is $272.75 and its two-hundred day moving average price is $193.78. The company has a market cap of $93.35 billion, a PE ratio of 27.62, a P/E/G ratio of 0.63 and a beta of 1.76. Western Digital Corporation has a fifty-two week low of $28.83 and a fifty-two week high of $319.62. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.46.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.20. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the company posted $1.77 EPS. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. Equities analysts predict that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Thursday, March 5th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $0.50 annualized dividend and a yield of 0.2%. Western Digital’s payout ratio is presently 5.02%.

Insiders Place Their Bets

In related news, Director Matthew E. Massengill sold 36,926 shares of Western Digital stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $260.43, for a total transaction of $9,616,638.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $255.44, for a total transaction of $5,108,800.00. Following the transaction, the chief executive officer owned 623,586 shares of the company’s stock, valued at approximately $159,288,807.84. This represents a 3.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 92,795 shares of company stock worth $24,265,884 in the last ninety days. Insiders own 0.18% of the company’s stock.

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.