Callan Family Office LLC Takes $11.90 Million Position in Western Digital Corporation $WDC

Callan Family Office LLC acquired a new position in shares of Western Digital Corporation (NASDAQ:WDC) during the 2nd quarter, Holdings Channel reports. The firm acquired 18,637 shares of the data storage provider’s stock, valued at approximately $11,904,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Western Digital during the fourth quarter worth about $788,729,000. Northern Trust Corp increased its position in Western Digital by 11.2% during the third quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock worth $456,884,000 after buying an additional 384,103 shares during the last quarter. Soroban Capital Partners LP raised its stake in Western Digital by 1,926.3% in the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock valued at $195,882,000 after buying an additional 2,910,062 shares during the period. AQR Capital Management LLC raised its stake in Western Digital by 70.4% in the fourth quarter. AQR Capital Management LLC now owns 2,972,703 shares of the data storage provider’s stock valued at $512,107,000 after buying an additional 1,228,661 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Western Digital by 6.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,809,409 shares of the data storage provider’s stock valued at $483,977,000 after buying an additional 159,167 shares during the last quarter. 92.51% of the stock is owned by institutional investors.

Western Digital Stock Down 2.0%

Shares of NASDAQ:WDC opened at $459.44 on Friday. Western Digital Corporation has a 12-month low of $74.57 and a 12-month high of $799.87. The stock has a market cap of $158.36 billion, a PE ratio of 18.98 and a beta of 2.14. The business has a 50 day moving average of $552.24 and a 200-day moving average of $433.31.

Western Digital (NASDAQ:WDC) last posted its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 EPS for the quarter, beating the consensus estimate of $3.31 by $0.25. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The firm’s revenue for the quarter was up 43.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.66 earnings per share. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Equities research analysts expect that Western Digital Corporation will post 19.65 earnings per share for the current year.

Western Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Western Digital’s dividend payout ratio is currently 2.48%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WDC shares. UBS Group reduced their target price on Western Digital from $560.00 to $525.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Weiss Ratings downgraded Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Susquehanna lifted their price objective on shares of Western Digital from $360.00 to $500.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, Robert W. Baird set a $630.00 price objective on shares of Western Digital in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and a consensus price target of $534.56.

Insider Transactions at Western Digital

In other news, insider Vidyadhara K. Gubbi sold 2,475 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce E. Kiddoo sold 750 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the transaction, the director owned 3,903 shares in the company, valued at $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 24,679 shares of company stock valued at $11,451,605. Corporate 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.