Western Digital Corporation (NASDAQ:WDC – Get Free Report) insider Vidyadhara Gubbi sold 2,475 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the transaction, the insider owned 85,154 shares in the company, valued at $47,366,060.96. The trade was a 2.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Western Digital Trading Down 3.1%
Shares of NASDAQ:WDC opened at $575.50 on Friday. The company has a market capitalization of $198.36 billion, a price-to-earnings ratio of 34.36 and a beta of 2.13. Western Digital Corporation has a 12 month low of $54.22 and a 12 month high of $602.54. The firm’s 50-day moving average is $417.75 and its 200 day moving average is $293.25.
Western Digital (NASDAQ:WDC – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.39 by $0.33. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The firm’s revenue was up 45.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $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 fiscal year.
Western Digital Increases Dividend
Key Western Digital News
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Western Digital’s recent Computex 2026 messaging reinforced the idea that AI demand is not just about chips, but about storage and data movement, supporting the stock’s AI-related momentum. AI isn’t just a compute race. It’s a data race – and storage will decide the winners, WD shares
- Positive Sentiment: Citigroup reportedly raised its price target on Western Digital by 37%, which likely boosted investor confidence and helped send shares to fresh highs. Western Digital (WDC) Hits All-Time High as Citi Hikes PT by 37%
- Positive Sentiment: Western Digital also announced a convertible-debt exchange, which investors may view as a cleaner capital structure that gives the company more flexibility for future AI-related moves. Western Digital Restructures Convertible Debt via Equity Exchange
- Positive Sentiment: Commentary continues to frame Western Digital as a beneficiary of the AI storage supercycle, with tighter supply and firm pricing supporting the earnings outlook. How The Western Digital (WDC) Investment Story Is Shifting With AI Storage And New Valuations
- Positive Sentiment: Western Digital’s recent earnings were strong, with revenue and EPS beating estimates, which continues to underpin the rally in the stock. Western Digital stock and company profile
- Neutral Sentiment: The stock also drew attention from a conference presentation and ongoing coverage, but these items did not introduce a clearly new catalyst on their own. Western Digital Corporation (WDC) Presents at 2026 Evercore Global TMT Conference Transcript
- Negative Sentiment: A small insider sale by a company executive may have slightly cooled sentiment, though it was modest relative to the insider’s remaining holdings. SEC filing for insider sale
- Negative Sentiment: Near-term stock weakness may also reflect broad semiconductor-sector pressure after weak AI-chip commentary from peers, which can spill over into storage names like Western Digital. Micron Drops 7% as Broadcom’s Disappointing AI Outlook Triggers a Semiconductor Selloff
Hedge Funds Weigh In On Western Digital
Hedge funds have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. boosted its stake in shares of Western Digital by 4,070.0% during the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 407 shares in the last quarter. Avion Wealth boosted its stake in shares of Western Digital by 163.8% during the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 113 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of Western Digital by 207.0% during the third quarter. Cornerstone Planning Group LLC now owns 264 shares of the data storage provider’s stock valued at $32,000 after purchasing an additional 178 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Western Digital during the first quarter valued at approximately $32,000. Finally, Swiss RE Ltd. bought a new position in shares of Western Digital during the fourth quarter valued at approximately $32,000. 92.51% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have commented on WDC. UBS Group upped their target price on shares of Western Digital from $350.00 to $375.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Citigroup upped their target price on shares of Western Digital from $500.00 to $685.00 and gave the stock a “buy” rating in a research note on Tuesday. Wall Street Zen upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Wedbush restated an “outperform” rating and issued a $325.00 target price on shares of Western Digital in a research note on Monday, February 9th. Finally, Robert W. Baird upped their target price on shares of 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, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $424.33.
Check Out Our Latest Stock Analysis on Western Digital
Western Digital Company 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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