Munich Reinsurance Co Stock Corp in Munich Sells 14,761 Shares of Western Digital Corporation $WDC

Munich Reinsurance Co Stock Corp in Munich reduced its position in Western Digital Corporation (NASDAQ:WDC) by 30.8% in the first quarter, Holdings Channel.com reports. The fund owned 33,179 shares of the data storage provider’s stock after selling 14,761 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in Western Digital were worth $8,975,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. increased its holdings in shares of Western Digital by 9.2% in the 1st quarter. GHP Investment Advisors Inc. now owns 357 shares of the data storage provider’s stock worth $97,000 after purchasing an additional 30 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of Western Digital by 0.8% in the fourth quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider’s stock worth $811,000 after purchasing an additional 37 shares during the last quarter. Astoria Portfolio Advisors LLC. lifted its holdings in shares of Western Digital by 1.1% during the first quarter. Astoria Portfolio Advisors LLC. now owns 3,782 shares of the data storage provider’s stock valued at $1,023,000 after purchasing an additional 40 shares in the last quarter. Quadcap Wealth Management LLC lifted its holdings in shares of Western Digital by 2.1% during the fourth quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock valued at $346,000 after purchasing an additional 41 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC boosted its position in shares of Western Digital by 2.6% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider’s stock valued at $341,000 after buying an additional 51 shares during the last quarter. 92.51% of the stock is owned by institutional investors.

Western Digital News Summary

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

• Positive Sentiment: Research chatter turned more constructive after Melius Research was reported as bullish on Western Digital, reinforcing the view that the company is a beneficiary of AI storage demand. Melius Research is Bullish on Western Digital Corporation (WDC)
• Positive Sentiment: Several articles highlighted strong fundamentals and valuation support, including comments that WDC looks inexpensive on cash flow, has beaten earnings recently, and continues to benefit from rising AI-related storage demand. Western Digital (WDC) Stock Looks Cheap On Cash Flow But Rich On Earnings
• Positive Sentiment: Analyst expectations remain generally favorable, with multiple firms maintaining buy or outperform ratings and recent price targets clustered above current levels, including a fresh upgrade in target from Susquehanna. Western Digital had its price target raised by Susquehanna
• Neutral Sentiment: Market-wide headlines about the Nasdaq, Fed minutes, and broader tech rotation are adding noise to trading, but these are not specific to Western Digital’s fundamentals. Stock Market Today: Nasdaq Swings To Score A Win; Fed Minutes Show Split On Direction
• Negative Sentiment: Some investors are still wary after the recent memory-chip selloff tied to Samsung results, which pressured WDC and peers earlier in the week and could keep sentiment choppy. Here is What to Know Beyond Why Western Digital Corporation (WDC) is a Trending Stock

Wall Street Analyst Weigh In

WDC has been the subject of several research analyst reports. Rosenblatt Securities lifted their price objective on Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Wall Street Zen raised shares of Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. The Goldman Sachs Group restated a “neutral” rating and issued a $400.00 target price on shares of Western Digital in a report on Friday, May 1st. Sanford C. Bernstein upgraded shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 target price for the company in a research note on Tuesday, March 31st. Finally, Morgan Stanley increased their price target on Western Digital from $488.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $502.12.

Western Digital Stock Up 3.4%

Shares of NASDAQ:WDC opened at $550.30 on Thursday. The stock has a market capitalization of $189.68 billion, a PE ratio of 32.85 and a beta of 2.11. The firm’s 50 day moving average price is $548.75 and its 200-day moving average price is $368.57. Western Digital Corporation has a twelve month low of $64.16 and a twelve month high of $799.87.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same period in the previous year, the business posted $1.36 earnings per share. The firm’s quarterly revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Analysts expect that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were given 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 was Friday, June 5th. This is a positive change from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s payout ratio is presently 3.58%.

Insider Buying and Selling

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $556.24, for a total value of $1,376,694.00. Following the transaction, the insider directly owned 85,154 shares of the company’s stock, valued at approximately $47,366,060.96. This trade represents a 2.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cynthia L. Tregillis sold 432 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $545.60, for a total value of $235,699.20. Following the completion of the transaction, the insider directly owned 116,643 shares in the company, valued at approximately $63,640,420.80. This represents a 0.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 29,322 shares of company stock valued at $12,768,550. Company 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.