Castle Rock Wealth Management LLC bought a new position in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,311 shares of the data storage provider’s stock, valued at approximately $226,000.
A number of other institutional investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in Western Digital by 12.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,317 shares of the data storage provider’s stock valued at $6,281,000 after acquiring an additional 5,731 shares in the last quarter. LBP AM SA acquired a new stake in shares of Western Digital during the 3rd quarter worth $641,000. AustralianSuper Pty Ltd bought a new position in shares of Western Digital in the third quarter worth $34,244,000. NorthCrest Asset Manangement LLC raised its stake in Western Digital by 75.4% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider’s stock valued at $1,778,000 after purchasing an additional 4,068 shares in the last quarter. Finally, Cantor Fitzgerald L. P. raised its stake in Western Digital by 399.8% in the third quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider’s stock valued at $3,900,000 after purchasing an additional 25,987 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.
Insider Buying and Selling
In other Western Digital news, insider Cynthia L. Tregillis sold 363 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $377.09, for a total transaction of $136,883.67. Following the sale, the insider directly owned 120,023 shares of the company’s stock, valued at $45,259,473.07. The trade was a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the transaction, the chief executive officer owned 598,150 shares of the company’s stock, valued at approximately $246,342,096. This trade represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 53,679 shares of company stock worth $18,049,314 in the last ninety days. Company insiders own 0.18% of the company’s stock.
Western Digital Stock Performance
Western Digital (NASDAQ:WDC – Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.33. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business’s revenue for the quarter was up 45.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, equities analysts forecast that Western Digital Corporation will post 9.57 EPS for the current year.
Western Digital Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be issued a $0.15 dividend. This is a boost from Western Digital’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Western Digital’s dividend payout ratio (DPR) is 2.99%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald increased their price objective on shares of Western Digital to $660.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Citigroup upped their price target on shares of Western Digital from $405.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. JPMorgan Chase & Co. increased their price target on shares of Western Digital from $320.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Wells Fargo & Company boosted their price objective on shares of Western Digital from $335.00 to $500.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Robert W. Baird upped their target price on Western Digital from $310.00 to $450.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and a consensus target price of $395.83.
Get Our Latest Analysis on WDC
More Western Digital News
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Western Digital was named to the 2026 S&P Dow Jones Best-in-Class Index North America for the first time, highlighting its ESG performance and leadership in sustainable AI infrastructure. WD Named to 2026 S&P Dow Jones Best‑in‑Class Index North America, Recognizing Leadership in Sustainable AI Infrastructure
- Positive Sentiment: Multiple reports point to WDC riding an AI storage boom, with strong earnings, rising hyperscaler demand, and aggressive shareholder returns after the SanDisk split. WDC’s Whopping 893% Run in a Year: Buy the Stock Amid AI Storage Boom?
- Positive Sentiment: Memory chip stocks, including Western Digital, have been rising on momentum tied to AI demand and the view that storage is a critical constraint in data-center buildouts. SNDK, MU: Why Are AI Memory Chip Stocks Rising Today, 05/13/26?
- Neutral Sentiment: Broader market commentary also noted Western Digital among the recent high-momentum stocks, reflecting strong investor interest rather than a company-specific new catalyst. 2 Momentum Stocks to Consider Right Now and 1 That Underwhelm
- Negative Sentiment: One sector-risk report flagged WDC’s broader industry as vulnerable ahead of a policy change, which could temper some of the recent enthusiasm if macro conditions weaken. 3 Sectors That Look Most Vulnerable Ahead of May 15 (WDC)
Western Digital Profile
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.
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