Western Digital Corporation $WDC is St. Louis Financial Planners Asset Management LLC’s 4th Largest Position

St. Louis Financial Planners Asset Management LLC reduced its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 34.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,184 shares of the data storage provider’s stock after selling 6,483 shares during the period. Western Digital accounts for about 4.0% of St. Louis Financial Planners Asset Management LLC’s holdings, making the stock its 4th biggest position. St. Louis Financial Planners Asset Management LLC’s holdings in Western Digital were worth $7,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of WDC. Rakuten Securities Inc. increased its position 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 worth $27,000 after buying an additional 407 shares in the last quarter. Avion Wealth lifted its position in shares of Western Digital by 163.8% in the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 113 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Western Digital during the first quarter valued at $32,000. Swiss RE Ltd. acquired a new stake in shares of Western Digital during the fourth quarter valued at $32,000. Finally, BOKF NA increased its position in Western Digital by 6,700.0% during the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider’s stock worth $33,000 after purchasing an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Key Western Digital News

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

• Positive Sentiment: Western Digital reported adjusted earnings of $3.56 per share, above the $3.31 consensus estimate, while revenue increased 43.8% year over year to $3.75 billion, also exceeding forecasts. Western Digital Q4 Earnings Beat as Revenue Jumps 44% on Cloud Demand
• Positive Sentiment: Management cited strong cloud and AI-related storage demand, pricing gains and adoption of higher-capacity products. The company said some AI customers are negotiating storage capacity commitments through 2031, providing long-term demand visibility. Western Digital Says AI Customers Are Already Negotiating Storage Deals Through 2031
• Positive Sentiment: Fiscal first-quarter 2027 revenue guidance of $4.0 billion to $4.2 billion and adjusted EPS guidance of $3.85 to $4.15 were above consensus estimates. Several analysts maintained bullish views, including Baird, which raised its price target to $630. Western Digital Earns Buy Rating as Analyst Lifts Price Target to $630

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WDC. Jefferies Financial Group set a $575.00 target price on shares of Western Digital in a research note on Tuesday, May 26th. Summit Insights downgraded shares of Western Digital from a “buy” rating to a “hold” rating in a report on Thursday. Robert W. Baird set a $630.00 price objective on shares of Western Digital in a research report on Thursday. Mizuho set a $590.00 price objective on shares of Western Digital in a research note on Thursday. Finally, Fox Advisors lowered shares of Western Digital from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and an average target price of $536.96.

Western Digital Trading Down 13.0%

Shares of NASDAQ:WDC opened at $451.52 on Friday. The stock’s 50-day moving average price is $567.55 and its two-hundred day moving average price is $417.23. Western Digital Corporation has a 12-month low of $73.14 and a 12-month high of $799.87. The firm has a market cap of $155.63 billion, a price-to-earnings ratio of 18.65 and a beta of 2.14.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Tuesday, August 4th. The data storage provider reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.25. The company had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.70 billion. Western Digital had a net margin of 72.95% and a return on equity of 50.22%. The company’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.66 EPS. As a group, research analysts forecast that Western Digital Corporation will post 17.77 earnings per share for the current fiscal year.

Western Digital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Western Digital’s dividend payout ratio (DPR) is currently 3.58%.

Insiders Place Their Bets

In other Western Digital news, insider Cynthia L. Tregillis sold 808 shares of Western Digital stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $529.63, for a total value of $427,941.04. Following the transaction, the insider owned 114,539 shares in the company, valued at $60,663,290.57. This trade represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of the company’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 sale, the insider owned 85,154 shares of the company’s stock, valued at approximately $47,366,060.96. The trade was a 2.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,093 shares of company stock valued at $2,751,337 over the last quarter. 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.