Western Digital (NASDAQ:WDC) Shares Up 3% – Here’s What Happened

Posted by George Bondi on Jun 8th, 2026

Western Digital Corporation (NASDAQ:WDC – Get Free Report)’s stock price was up 3% during trading on Monday . The company traded as high as $540.21 and last traded at $526.93. Approximately 6,209,825 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 8,848,921 shares. The stock had previously closed at $511.72.

More Western Digital News

Here are the key news stories impacting Western Digital this week:

Positive Sentiment: Mizuho reportedly raised its targets on Western Digital and peers, citing an AI-driven memory supply crunch that could last through 2027. That supports the view that pricing and demand for NAND/HDD storage could stay strong. Memory Stocks Sandisk (SNDK), Seagate (STX), and Western Digital (WDC) Surge on AI-Driven Demand Forecast
Positive Sentiment: Shares are also benefiting from a broad rebound in memory and storage stocks, with Western Digital rising alongside Micron and SanDisk after last week’s selloff. The move appears tied to sector momentum rather than a company-specific setback. Micron Rockets 8%, Western Digital Surges 7%, SanDisk Pops 6% in Memory-Stock Snap-Back
Positive Sentiment: Recent analyst commentary remains constructive, including Wells Fargo’s higher price target and multiple buy-equivalent ratings, which is helping reinforce bullish sentiment around the stock. Wells Fargo Raises Western Digital (WDC) Price Target by $75
Neutral Sentiment: Investor chatter is also focused on Western Digital’s strong year-to-date gains and its exchange of convertible notes for cash and common shares. The debt management move may improve balance-sheet flexibility, but it also adds attention to share dilution. Western Digital Stock (WDC) Opinions on Strong Performance and Note Exchanges
Neutral Sentiment: Articles questioning whether the stock is still a buy mainly reflect how far WDC has already run, but they do not point to any immediate deterioration in fundamentals. Up 981%, Is Western Digital Stock Still a Buy?

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WDC shares. Barclays boosted their price objective on shares of Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group reissued a “neutral” rating and issued a $400.00 price objective on shares of Western Digital in a research note on Friday, May 1st. Robert W. Baird boosted their price objective 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. Jefferies Financial Group set a $575.00 price objective on shares of Western Digital in a research note on Tuesday, May 26th. Finally, Sanford C. Bernstein raised shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price objective for the company in a research note on Tuesday, March 31st. One research 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $433.29.

Check Out Our Latest Analysis on WDC

Western Digital Stock Up 3.0%

The business has a 50-day moving average price of $422.06 and a 200-day moving average price of $295.71. The firm has a market capitalization of $181.62 billion, a price-to-earnings ratio of 31.46 and a beta of 2.13.

Western Digital (NASDAQ:WDC – Get Free Report) last issued its quarterly 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 for 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 business’s quarterly revenue was up 45.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities research analysts forecast that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis 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 of this dividend is Friday, June 5th. Western Digital’s dividend payout ratio is presently 3.58%.

Insider Activity at Western Digital

In other news, insider Vidyadhara K. Gubbi sold 2,475 shares of the business’s stock in a transaction on 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 sale, the insider directly owned 85,154 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cynthia L. Tregillis sold 432 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the sale, the insider directly owned 116,643 shares in the company, valued at $63,640,420.80. This trade represents a 0.37% 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 sold 29,322 shares of company stock valued at $12,768,550 over the last three months. 0.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Western Digital

Hedge funds have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. raised its holdings in Western Digital by 9.2% in the 1st quarter. GHP Investment Advisors Inc. now owns 357 shares of the data storage provider’s stock valued at $97,000 after acquiring an additional 30 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in Western Digital by 33.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 33 shares during the last quarter. Alps Advisors Inc. raised its holdings in Western Digital by 0.8% in the 4th quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider’s stock valued at $811,000 after acquiring an additional 37 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its holdings in Western Digital by 1.1% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 3,782 shares of the data storage provider’s stock valued at $1,023,000 after acquiring an additional 40 shares during the last quarter. Finally, Quadcap Wealth Management LLC raised its holdings in Western Digital by 2.1% in the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock valued at $346,000 after acquiring an additional 41 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Company Profile

(Get Free Report)

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.