TRB Wealth Management LLC Makes New $878,000 Investment in Western Digital Corporation $WDC

TRB Wealth Management LLC acquired a new stake in Western Digital Corporation (NASDAQ:WDC) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,375 shares of the data storage provider’s stock, valued at approximately $878,000.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Western Digital during the fourth quarter valued at about $788,729,000. Northern Trust Corp increased its stake in Western Digital by 11.2% in the 3rd quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock worth $456,884,000 after purchasing an additional 384,103 shares during the period. Soroban Capital Partners LP lifted its position in Western Digital by 1,926.3% in the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock valued at $195,882,000 after purchasing an additional 2,910,062 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Western Digital by 70.4% in the fourth quarter. AQR Capital Management LLC now owns 2,972,703 shares of the data storage provider’s stock worth $512,107,000 after purchasing an additional 1,228,661 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Western Digital by 6.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,809,409 shares of the data storage provider’s stock worth $483,977,000 after acquiring an additional 159,167 shares during the last quarter. 92.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price objective on Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Susquehanna increased their price target on shares of Western Digital from $360.00 to $500.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Cantor Fitzgerald boosted their price target on Western Digital from $660.00 to $900.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Wall Street Zen downgraded Western Digital from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. Finally, Summit Insights downgraded Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and a consensus price target of $534.56.

Western Digital Price Performance

WDC stock opened at $459.44 on Friday. Western Digital Corporation has a 1-year low of $74.57 and a 1-year high of $799.87. The business has a fifty day moving average price of $552.24 and a 200-day moving average price of $433.31. The stock has a market capitalization of $158.36 billion, a P/E ratio of 18.98 and a beta of 2.14.

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 analysts’ consensus estimates of $3.31 by $0.25. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the company posted $1.66 earnings per share. 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 anticipate that Western Digital Corporation will post 19.65 earnings per share for the current year.

Western Digital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Western Digital’s dividend payout ratio (DPR) is presently 2.48%.

Insider Activity at Western Digital

In other news, insider Vidyadhara K. Gubbi sold 2,475 shares of Western Digital stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the completion of the sale, the insider directly owned 85,154 shares in the company, valued at $47,366,060.96. The trade was a 2.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Irving Tan sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the transaction, the chief executive officer owned 575,966 shares in the company, valued at approximately $256,287,591.02. This trade represents a 3.36% 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 three months, insiders have sold 24,679 shares of company stock valued at $11,451,605. Insiders own 0.18% of the company’s stock.

About Western Digital

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.