Retireful LLC Has $3.27 Million Stock Position in Western Digital Corporation $WDC

Retireful LLC reduced its position in Western Digital Corporation (NASDAQ:WDC) by 36.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,121 shares of the data storage provider’s stock after selling 2,883 shares during the period. Western Digital makes up 3.1% of Retireful LLC’s investment portfolio, making the stock its 4th largest holding. Retireful LLC’s holdings in Western Digital were worth $3,271,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDC. Norges Bank acquired a new position in shares of Western Digital during the fourth quarter valued at about $788,729,000. Soroban Capital Partners LP raised its holdings in shares of Western Digital by 1,926.3% in the 2nd quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after acquiring an additional 2,910,062 shares during the last quarter. Legal & General Group Plc bought a new position in Western Digital in the 2nd quarter valued at about $1,602,927,000. Polar Capital Holdings Plc bought a new position in Western Digital in the 3rd quarter valued at about $221,800,000. Finally, Anther Capital Ltd acquired a new position in Western Digital during the 2nd quarter valued at about $901,601,000. Institutional investors own 92.51% of the company’s stock.

Western Digital Price Performance

NASDAQ:WDC opened at $448.90 on Thursday. The business has a fifty day simple moving average of $513.08 and a two-hundred day simple moving average of $444.44. Western Digital Corporation has a 1 year low of $83.34 and a 1 year high of $799.87. The company has a market capitalization of $154.73 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.91 and a beta of 2.13.

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

Western Digital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be given a $0.15 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Western Digital’s payout ratio is 2.48%.

Insider Buying and Selling at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the sale, the chief executive officer directly owned 575,966 shares in the company, valued at approximately $256,287,591.02. The trade was a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 1,007 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $478.36, for a total value of $481,708.52. Following the sale, the insider directly owned 112,155 shares in the company, valued at $53,650,465.80. This trade represents a 0.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 23,642 shares of company stock valued at $10,676,659. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WDC has been the subject of several recent research reports. TD Cowen upped their price target on Western Digital from $500.00 to $540.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings cut Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Fox Advisors downgraded shares of Western Digital from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Melius Research set a $1,050.00 target price on shares of Western Digital and gave the stock a “buy” rating in a research note on Monday, June 29th. Finally, Wells Fargo & Company increased their target price on shares of Western Digital from $575.00 to $730.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $534.56.

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.