Farther Finance Advisors LLC Sells 182 Shares of Western Digital Corporation $WDC

Farther Finance Advisors LLC trimmed its position in Western Digital Corporation (NASDAQ:WDC) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,736 shares of the data storage provider’s stock after selling 182 shares during the quarter. Farther Finance Advisors LLC’s holdings in Western Digital were worth $239,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. CX Institutional increased its stake in Western Digital by 78.0% in the second quarter. CX Institutional now owns 5,676 shares of the data storage provider’s stock valued at $363,000 after acquiring an additional 2,487 shares during the last quarter. UMB Bank n.a. boosted its position in Western Digital by 6.2% in the second quarter. UMB Bank n.a. now owns 3,465 shares of the data storage provider’s stock valued at $222,000 after buying an additional 202 shares in the last quarter. Weatherly Asset Management L. P. acquired a new stake in Western Digital in the second quarter valued at approximately $244,000. Assenagon Asset Management S.A. boosted its position in Western Digital by 1.2% in the second quarter. Assenagon Asset Management S.A. now owns 71,070 shares of the data storage provider’s stock valued at $4,548,000 after buying an additional 872 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its position in Western Digital by 5.9% in the second quarter. IFM Investors Pty Ltd now owns 63,133 shares of the data storage provider’s stock valued at $4,040,000 after buying an additional 3,514 shares in the last quarter. 92.51% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Cynthia L. Tregillis sold 14,067 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $74.78, for a total value of $1,051,930.26. Following the transaction, the insider owned 135,351 shares in the company, valued at $10,121,547.78. The trade was a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vidyadhara K. Gubbi sold 11,343 shares of Western Digital stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $90.29, for a total transaction of $1,024,159.47. Following the completion of the sale, the insider directly owned 151,596 shares of the company’s stock, valued at approximately $13,687,602.84. This trade represents a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,730 shares of company stock worth $3,921,594 in the last three months. Corporate insiders own 0.30% of the company’s stock.

Western Digital Price Performance

WDC stock opened at $120.06 on Wednesday. The firm has a market cap of $41.89 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 1.00 and a beta of 1.69. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.47. Western Digital Corporation has a 12-month low of $28.83 and a 12-month high of $122.59. The company’s fifty day simple moving average is $86.36 and its 200 day simple moving average is $62.62.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.18. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. Western Digital’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.44 earnings per share. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. On average, analysts expect that Western Digital Corporation will post 4.89 earnings per share for the current year.

Western Digital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $0.10 dividend. The ex-dividend date was Thursday, September 4th. This represents a $0.40 annualized dividend and a yield of 0.3%. Western Digital’s payout ratio is presently 7.77%.

Wall Street Analyst Weigh In

WDC has been the topic of a number of research analyst reports. Mizuho raised their target price on shares of Western Digital from $87.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Wedbush raised their target price on shares of Western Digital from $78.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. UBS Group raised their target price on shares of Western Digital from $45.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Barclays raised their target price on shares of Western Digital from $80.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Finally, TD Cowen raised their target price on shares of Western Digital from $58.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.47.

Western Digital 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.