Romano Brothers AND Company trimmed its holdings in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) by 23.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 15,226 shares of the data storage provider’s stock after selling 4,656 shares during the quarter. Romano Brothers AND Company’s holdings in Western Digital were worth $2,623,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also made changes to their positions in the company. 44 Wealth Management LLC raised its holdings in shares of Western Digital by 0.8% during the third quarter. 44 Wealth Management LLC now owns 9,329 shares of the data storage provider’s stock worth $1,120,000 after purchasing an additional 78 shares during the last quarter. Addison Advisors LLC grew its position in Western Digital by 7.1% during the 3rd quarter. Addison Advisors LLC now owns 1,281 shares of the data storage provider’s stock worth $154,000 after purchasing an additional 85 shares during the period. Harbor Investment Advisory LLC grew its position in Western Digital by 47.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 300 shares of the data storage provider’s stock worth $52,000 after purchasing an additional 97 shares during the period. Pure Financial Advisors LLC raised its stake in shares of Western Digital by 3.1% during the 3rd quarter. Pure Financial Advisors LLC now owns 3,583 shares of the data storage provider’s stock valued at $430,000 after buying an additional 107 shares during the last quarter. Finally, Bogart Wealth LLC raised its stake in shares of Western Digital by 57.7% during the 3rd quarter. Bogart Wealth LLC now owns 309 shares of the data storage provider’s stock valued at $37,000 after buying an additional 113 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.
Western Digital Stock Up 0.7%
Shares of WDC opened at $275.34 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $319.62. The stock’s 50 day moving average is $272.75 and its two-hundred day moving average is $193.09. The firm has a market cap of $93.35 billion, a P/E ratio of 27.62, a PEG ratio of 0.63 and a beta of 1.76.
Western Digital Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Thursday, March 5th were given a dividend of $0.125 per share. The ex-dividend date was Thursday, March 5th. This represents a $0.50 dividend on an annualized basis and a yield of 0.2%. Western Digital’s dividend payout ratio is currently 5.02%.
Insider Activity at Western Digital
In related news, Director Matthew E. Massengill sold 36,926 shares of Western Digital stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $260.43, for a total value of $9,616,638.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the business’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 value of $5,108,800.00. Following the sale, the chief executive officer owned 623,586 shares of the company’s stock, valued at approximately $159,288,807.84. This trade represents a 3.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 92,795 shares of company stock valued at $24,265,884. 0.18% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Bank of America upped their target price on Western Digital from $197.00 to $257.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Weiss Ratings upgraded Western Digital from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 2nd. Wall Street Zen lowered Western Digital from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Barclays raised their price objective on shares of Western Digital from $240.00 to $325.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, Susquehanna reiterated a “neutral” rating and issued a $285.00 target price on shares of Western Digital in a research note on Friday, February 6th. One equities research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $265.58.
Read Our Latest Stock Report on Western Digital
Key Headlines Impacting Western Digital
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
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.
Further Reading
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