Camarda Financial Advisors LLC Buys Shares of 6,272 Western Digital Corporation $WDC

Camarda Financial Advisors LLC bought a new position in Western Digital Corporation (NASDAQ:WDC) in the 2nd quarter, Holdings Channel.com reports. The fund bought 6,272 shares of the data storage provider’s stock, valued at approximately $4,006,000. Western Digital comprises approximately 1.2% of Camarda Financial Advisors LLC’s investment portfolio, making the stock its 24th biggest holding.

Several other hedge funds also recently modified their holdings of the business. Dogwood Wealth Management LLC raised its holdings in shares of Western Digital by 28.6% during the 2nd quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock valued at $57,000 after purchasing an additional 20 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in Western Digital by 1.0% in the second quarter. Legacy Wealth Asset Management LLC now owns 2,302 shares of the data storage provider’s stock worth $1,470,000 after purchasing an additional 22 shares in the last quarter. Everpar Advisors LLC increased its position in Western Digital by 1.8% during the second quarter. Everpar Advisors LLC now owns 1,442 shares of the data storage provider’s stock worth $921,000 after buying an additional 25 shares during the last quarter. Ares Financial Consulting LLC increased its position in Western Digital by 45.5% during the second quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock worth $51,000 after buying an additional 25 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC increased its position in Western Digital by 2.1% during the second quarter. Dynamic Advisor Solutions LLC now owns 1,390 shares of the data storage provider’s stock worth $888,000 after buying an additional 28 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Trending Headlines about Western Digital

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

• Positive Sentiment: Western Digital’s AI- and cloud-storage growth thesis remains intact. Industry momentum from AI infrastructure, cloud computing, the Internet of Things and automotive applications is supporting expectations for continued demand. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
• Positive Sentiment: A recent exchange of approximately $191 million of 3% convertible notes due 2028 is viewed as constructive liability management because it can reduce debt, although issuing shares may create some dilution. What’s Going on With Western Digital Stock on Wednesday?
• Positive Sentiment: Western Digital recently reported revenue growth of 44% year over year to $3.75 billion and earnings of $3.56 per share, exceeding estimates. Its next-quarter earnings guidance of $3.85 to $4.15 per share also supports the bullish fundamental case.
• Positive Sentiment: Technical and analyst indicators remain favorable: a recent hammer chart pattern suggested potential support, while upward earnings-estimate revisions and a bullish Wall Street consensus point to possible longer-term recovery. Western Digital May Find a Bottom Soon

Western Digital Stock Down 1.5%

Shares of WDC stock opened at $462.00 on Friday. Western Digital Corporation has a 12 month low of $77.90 and a 12 month high of $799.87. The firm has a market cap of $159.24 billion, a PE ratio of 19.08 and a beta of 2.14. The stock has a 50 day moving average of $532.72 and a 200-day moving average of $439.49.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.25. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the company posted $1.66 earnings per share. Western Digital’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, equities analysts predict that Western Digital Corporation will post 19.65 EPS for the current fiscal year.

Western Digital Dividend Announcement

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 given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital’s dividend payout ratio (DPR) is currently 2.48%.

Insider Transactions at Western Digital

In other news, insider Cynthia L. Tregillis sold 1,007 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $478.36, for a total transaction of $481,708.52. Following the transaction, the insider owned 112,155 shares in the company, valued at approximately $53,650,465.80. The trade was a 0.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction dated 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 directly owned 575,966 shares of the company’s stock, valued at $256,287,591.02. This represents a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 26,117 shares of company stock worth $12,053,353. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WDC has been the subject of a number of analyst reports. Weiss Ratings cut Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Evercore reissued an “outperform” rating and set a $575.00 price objective on shares of Western Digital in a report on Tuesday, May 26th. Susquehanna raised their price objective on Western Digital from $360.00 to $500.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Robert W. Baird set a $630.00 target price on Western Digital in a report on Thursday, August 6th. Finally, Melius Research set a $1,050.00 target price on Western Digital and gave the stock a “buy” rating in a research report on Monday, June 29th. Two 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $534.56.

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.