Western Digital exec sells more than $130k in company stock Via Investing.com

In a recent trading activity, Gene M. Zamiska, Senior Vice President and Chief Accounts Officer at Western Digital Corp (NASDAQ:), sold 2,169 shares of the company’s stock. The transaction, which took place on September 4, 2024, resulted in a value of approximately $134,391, with each share sold at a price of $61.96.

The sale was made under the 10b5-1 pre-arranged trading plan, which allows company insiders to set up a trading plan to sell shares they own in accordance with insider trading rules. The plan was accepted by Zamiska on December 1, 2023.

In addition to the sale, it was reported that on September 3, 2024, Zamiska disposed of 1,145 shares at a price of $63.06 per share to satisfy tax obligations. This transaction, which is a common practice known as a holding event in a securities offering, totaled $72,203.

Following this transaction, Zamiska's ownership of Western Digital stock was revised to 32,601 shares. The company, headquartered in San Jose, California, is the industry's leading manufacturer of computer storage devices.

Investors and market watchers often pay close attention to insider trading as it can provide insight into an executive's view of a company's stock value and future performance. However, sales under the 10b5-1 trading plan are often planned in advance and may not reflect current market conditions or an insider's unique view of the company's prospects.

Western Digital Corp has not made any official statement regarding this transaction at the time of this report.

In other recent news, Western Digital Corp reported significant Q4 revenues of $3.8 billion, beating expectations due to significant margin growth in the Hard Disk Drive (HDD) and Flash segments. The company also registered for the resale of shares of its preferred and common stock with the Securities and Exchange Commission, a move that provides flexibility in the management of its capital structure. Analyst firms such as Evercore ISI and Benchmark maintained confidence in Western Digital's financial outlook, with Benchmark projecting non-GAAP earnings of $8.39 per diluted share for fiscal 2025. Despite these positive developments, Western Digital's guidance for the September quarter was slightly below expectations. due to possible softness in Flash revenues. The company remains optimistic about the shift to a build-to-order model for HDDs. These are the main financial indicators of Western Digital Corp.

InvestingPro Insights

As Western Digital Corp (NASDAQ:WDC) sees insider trading activity, it is important for investors to consider the company's financial health and market performance. According to InvestingPro data, Western Digital has a market capitalization of 21.61 billion dollars, which shows its significant presence in the technology and storage hardware industry. Despite a negative Price-to-Earnings (P/E) ratio of -24.11, which suggests that the market expects future growth, the company experienced a revenue growth of 5.56% in the last twelve months from Q4 2024. This growth is also highlighted a quarterly revenue growth of 40.87% in Q4 2024.

InvestingPro Tips indicates that analysts expect Western Digital's revenue to grow this year, which may provide reassurance to investors concerned about insider sales. Additionally, the company is expected to see sales growth this year, consistent with recent revenue growth figures. However, it's worth noting that Western Digital is currently unprofitable over the past twelve months and has been trading at multiples of EBIT and EBITDA, which may suggest the stock is overvalued relative to earnings before interest, taxes, depreciation, and amortization. of money.

For investors looking for more detailed analysis and more InvestingPro tips, there are 9 more tips available from InvestingPro for Western Digital Corp, which can be found at These tips can provide more insight into the company's performance and valuation metrics, helping investors make informed decisions. .

Finally, it's important to note that Gene M. Zamiska's recent transactions occurred at prices close to the previous close of $63.06, which is well below the analyst's target fair value of $92 but above the InvestingPro Fair Value estimate of $55.11. These differences in valuation assessments may reflect different views about the company's future performance and growth potential.

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