Quantinno Capital Management LP Sells 34,550 Shares of Western Digital Corporation $WDC

Quantinno Capital Management LP reduced its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 338,635 shares of the data storage provider’s stock after selling 34,550 shares during the quarter. Quantinno Capital Management LP owned about 0.10% of Western Digital worth $91,597,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WDC. Rakuten Securities Inc. increased its position in shares of Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after buying an additional 407 shares in the last quarter. Avion Wealth raised its position in shares of Western Digital by 163.8% during the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 113 shares during the period. Swiss RE Ltd. acquired a new position in shares of Western Digital in the 4th quarter valued at approximately $32,000. Valley Wealth Managers Inc. acquired a new stake in Western Digital during the 1st quarter worth approximately $32,000. Finally, BOKF NA lifted its stake in Western Digital by 6,700.0% in the third quarter. BOKF NA now owns 272 shares of the data storage provider’s stock valued at $33,000 after buying an additional 268 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $497.92 on Tuesday. Western Digital Corporation has a 52 week low of $68.67 and a 52 week high of $799.87. The stock has a market capitalization of $171.62 billion, a P/E ratio of 29.73 and a beta of 2.11. The stock’s fifty day moving average is $565.69 and its 200 day moving average is $400.49.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the firm earned $1.36 earnings per share. Western Digital’s revenue for the quarter 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. Equities research analysts forecast that Western Digital Corporation will post 9.61 earnings per share for the current year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Friday, June 5th. This is a boost from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio is presently 3.58%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Robert W. Baird boosted their target price on Western Digital from $310.00 to $450.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Fox Advisors downgraded shares of Western Digital from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Sanford C. Bernstein upgraded Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price objective on the stock in a research note on Tuesday, March 31st. Susquehanna raised their target price 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. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $400.00 price objective on shares of Western Digital in a report on Friday, May 1st. Two 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.com, Western Digital has a consensus rating of “Moderate Buy” and a consensus target price of $520.32.

Insider Activity

In other Western Digital news, insider Cynthia L. Tregillis sold 432 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the completion of the transaction, the insider directly owned 116,643 shares in the company, valued at $63,640,420.80. The trade was a 0.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director directly owned 3,903 shares in the company, valued at approximately $2,062,813.56. This represents a 16.12% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 28,959 shares of company stock worth $12,631,666. Insiders own 0.18% of the company’s stock.

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.