Rep. Jefferson Shreve Sells Off Shares of Western Digital Corporation (NASDAQ:WDC)

Representative Jefferson Shreve (R-Indiana) recently sold shares of Western Digital Corporation (NASDAQ:WDC). In a filing disclosed on June 22nd, the Representative disclosed that they had sold between $15,001 and $50,000 in Western Digital stock on May 12th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Hubbell (NYSE:HUBB) on 5/12/2025.
• Sold $50,001 – $100,000 in shares of Trane Technologies (NYSE:TT) on 5/12/2025.
• Sold $15,001 – $50,000 in shares of RTX (NYSE:RTX) on 5/12/2025.
• Sold $50,001 – $100,000 in shares of NiSource (NYSE:NI) on 5/12/2025.
• Sold $50,001 – $100,000 in shares of Johnson & Johnson (NYSE:JNJ) on 5/12/2025.
• Sold $15,001 – $50,000 in shares of AppLovin (NASDAQ:APP) on 5/12/2025.
• Sold $15,001 – $50,000 in shares of Fiserv (NYSE:FI) on 5/12/2025.
• Sold $15,001 – $50,000 in shares of CNO Financial Group (NYSE:CNO) on 5/12/2025.
• Sold $50,001 – $100,000 in shares of Cboe Global Markets (NASDAQ:CBOE) on 5/12/2025.
• Sold $15,001 – $50,000 in shares of Lam Research (NASDAQ:LRCX) on 5/12/2025.

Western Digital Price Performance

Shares of NASDAQ WDC opened at $76.55 on Friday. Western Digital Corporation has a twelve month low of $28.83 and a twelve month high of $78.80. The company has a current ratio of 1.08, a quick ratio of 1.31 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average of $62.22 and a two-hundred day moving average of $53.90. The company has a market capitalization of $26.71 billion, a price-to-earnings ratio of 14.86 and a beta of 1.58.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.18. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. As a group, analysts expect that Western Digital Corporation will post 4.89 earnings per share for the current fiscal year.

Western Digital announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 13th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Western Digital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, September 4th. Western Digital’s payout ratio is presently 7.77%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WDC shares. Summit Insights upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a report on Wednesday, April 30th. Susquehanna raised their price objective on shares of Western Digital from $40.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. raised shares of Western Digital from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $45.00 to $57.00 in a research note on Thursday, May 1st. TD Cowen increased their target price on Western Digital from $58.00 to $90.00 and gave the company a “buy” rating in a report on Thursday. Finally, The Goldman Sachs Group began coverage on Western Digital in a report on Thursday, July 10th. They set a “neutral” rating and a $70.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.74.

Institutional Trading of Western Digital

Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in shares of Western Digital by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 390,826 shares of the data storage provider’s stock valued at $23,305,000 after purchasing an additional 15,189 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Western Digital by 52.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,838 shares of the data storage provider’s stock valued at $1,166,000 after buying an additional 9,974 shares in the last quarter. Ieq Capital LLC lifted its position in shares of Western Digital by 83.9% in the fourth quarter. Ieq Capital LLC now owns 31,634 shares of the data storage provider’s stock worth $1,886,000 after buying an additional 14,432 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Western Digital by 53.3% during the 4th quarter. Handelsbanken Fonder AB now owns 99,444 shares of the data storage provider’s stock worth $5,930,000 after acquiring an additional 34,579 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Western Digital by 5.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 144,307 shares of the data storage provider’s stock worth $5,834,000 after acquiring an additional 6,947 shares in the last quarter. 92.51% of the stock is owned by institutional investors.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 1,729 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $54.88, for a total value of $94,887.52. Following the completion of the sale, the senior vice president directly owned 40,089 shares in the company, valued at approximately $2,200,084.32. The trade was a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Irving Tan sold 11,379 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $48.19, for a total value of $548,354.01. Following the sale, the chief executive officer directly owned 605,481 shares of the company’s stock, valued at $29,178,129.39. The trade was a 1.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,353 shares of company stock worth $657,454. 0.30% of the stock is currently owned by insiders.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

Email [email protected] to notify us of updates to this biography.
Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.