Allworth Financial LP grew its stake in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) by 45.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 4,490 shares of the data storage provider’s stock after acquiring an additional 1,397 shares during the quarter. Allworth Financial LP’s holdings in Western Digital were worth $773,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of WDC. Mirae Asset Global Investments Co. Ltd. increased its position in Western Digital by 12.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,317 shares of the data storage provider’s stock worth $6,281,000 after purchasing an additional 5,731 shares in the last quarter. LBP AM SA acquired a new stake in Western Digital in the third quarter valued at approximately $641,000. AustralianSuper Pty Ltd bought a new stake in shares of Western Digital during the third quarter worth $34,244,000. Cantor Fitzgerald L. P. grew its stake in shares of Western Digital by 399.8% during the third quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider’s stock worth $3,900,000 after buying an additional 25,987 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC increased its holdings in shares of Western Digital by 75.4% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider’s stock worth $1,778,000 after buying an additional 4,068 shares in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on WDC shares. JPMorgan Chase & Co. raised their price objective on Western Digital from $320.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Argus set a $300.00 target price on Western Digital in a research report on Tuesday, February 3rd. TD Cowen lifted their price target on Western Digital from $325.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Wall Street Zen upgraded Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $285.00 price objective on shares of Western Digital in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Western Digital currently has an average rating of “Moderate Buy” and a consensus price target of $395.83.
Insider Buying and Selling
In related news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $411.84, for a total value of $8,236,800.00. Following the transaction, the chief executive officer owned 598,150 shares in the company, valued at $246,342,096. The trade was a 3.24% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 9,324 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $268.27, for a total transaction of $2,501,349.48. Following the sale, the insider directly owned 121,682 shares in the company, valued at $32,643,630.14. This trade represents a 7.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 53,679 shares of company stock valued at $18,049,314 over the last quarter. Insiders own 0.18% of the company’s stock.
Western Digital News Summary
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Western Digital announced industry-first post-quantum cryptography hard drives, reinforcing its pitch that it can win more AI data-center business by offering “quantum-safe” storage security for hyperscalers. WD Advances Next-Generation Trusted Infrastructure with Industry’s First Post-Quantum Cryptography Hard Drives to Help Secure the Future of AI Data
- Positive Sentiment: Multiple reports highlighted that AI infrastructure is driving a storage supercycle, with stronger pricing power for enterprise SSDs and hard drives; that backdrop is favorable for Western Digital’s revenue and margins. Seagate and Western Digital: AI Storage Demand Is Now Showing Up in Pricing Power
- Positive Sentiment: Analyst commentary suggests Western Digital’s fair value is being revised higher on stronger earnings expectations tied to AI storage demand, and one note cited a price target around $504, supporting the stock’s long-term bull case. Why The Western Digital (WDC) Story Is Shifting On New Earnings And AI Storage Expectations
- Positive Sentiment: Western Digital was added to the 2026 S&P Dow Jones Best-in-Class Index North America, a small but constructive inclusion that can improve visibility with institutional investors. Western Digital Corporation (WDC) Included in 2026 S&P Dow Jones Best-in-Class Index North America
- Neutral Sentiment: Shares were little changed in the session after a sharp sector-wide selloff, as memory stocks including Micron and SanDisk bounced while Western Digital lagged, suggesting WDC is being pulled around by broader group trading rather than company-specific news. Micron Is Up 6% Today: Is It Outperforming Other Memory Stocks Like SanDisk and Western Digital?
- Negative Sentiment: Near-term sentiment was pressured by reports of AI supply-chain and capacity-crunch fears across memory stocks, which sparked a premarket selloff in Western Digital and peers. Micron, Seagate, Western Digital Sink On Capacity Crunch Fears
Western Digital Trading Down 0.6%
Shares of WDC opened at $455.80 on Wednesday. The stock’s 50-day moving average price is $360.35 and its two-hundred day moving average price is $262.26. Western Digital Corporation has a 12 month low of $49.00 and a 12 month high of $525.15. The company has a market capitalization of $157.11 billion, a PE ratio of 27.21 and a beta of 2.10.
Western Digital (NASDAQ:WDC – Get Free Report) last issued its quarterly earnings data 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 company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm’s revenue was up 45.5% compared to the same quarter last year. During the same period last year, the company earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities research analysts predict that Western Digital Corporation will post 9.57 EPS for the current fiscal year.
Western Digital Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is a boost from Western Digital’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 5th. Western Digital’s dividend payout ratio is currently 2.99%.
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.
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