State of Michigan Retirement System cut its stake in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) by 1.0% in the 1st quarter, Holdings Channel reports. The firm owned 102,657 shares of the data storage provider’s stock after selling 1,000 shares during the quarter. State of Michigan Retirement System’s holdings in Western Digital were worth $27,768,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rakuten Securities Inc. boosted its position in Western Digital by 4,070.0% during the 2nd 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 during the period. Avion Wealth increased its position in Western Digital by 163.8% in the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after buying an additional 113 shares during the period. Swiss RE Ltd. acquired a new stake in Western Digital in the fourth quarter worth $32,000. BOKF NA lifted its stake in Western Digital by 6,700.0% in the third quarter. BOKF NA now owns 272 shares of the data storage provider’s stock valued at $33,000 after buying an additional 268 shares during the last quarter. Finally, JPL Wealth Management LLC bought a new stake in Western Digital in the third quarter valued at $33,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Western Digital
In other Western Digital news, insider Vidyadhara K. Gubbi sold 2,475 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the sale, the insider directly owned 85,154 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction dated 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 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 29,322 shares of company stock valued at $12,768,550. 0.18% of the stock is currently owned by company insiders.
More Western Digital News
- Positive Sentiment: Western Digital is benefiting from a rebound in memory and storage stocks after Monday’s sector-wide drop tied to SK Hynix volatility and broader chip-market pressure. SK Hynix ADR Soars 19% as Leveraged ETFs Launch, Lifting Micron, SanDisk, Western Digital
- Positive Sentiment: Several recent analyst notes are bullish on WDC, with commentary citing strong demand, improving pricing, and the possibility of meaningful upside from current levels. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here
- Positive Sentiment: Western Digital’s upcoming earnings report is in focus, and Wall Street is expecting a strong year-over-year profit jump, which could support the stock if results and guidance beat expectations. Western Digital’s Quarterly Earnings Preview: What You Need to Know
- Neutral Sentiment: The company has confirmed it will report fourth-quarter and fiscal 2026 results on August 5, keeping earnings-related speculation elevated in the near term. WD to Announce Fourth Quarter and Fiscal Year 2026 Financial Results on August 5, 2026
- Negative Sentiment: WDC remains sensitive to swings in the AI-memory trade, and the stock was recently hit by a sharp sector pullback sparked by SK Hynix’s weak outlook and broader chip-market jitters. SK Hynix’s record plunge drags down global chip stocks
Wall Street Analyst Weigh In
WDC has been the subject of several recent research reports. Sanford C. Bernstein upgraded shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price target for the company in a research report on Tuesday, March 31st. Rosenblatt Securities lifted their price objective on shares of Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Zacks Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Bank of America upped their target price on shares of Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, Citigroup raised their price target on shares of Western Digital from $685.00 to $800.00 and gave the company a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Western Digital presently has an average rating of “Moderate Buy” and a consensus target price of $520.32.
View Our Latest Research Report on WDC
Western Digital Stock Up 1.4%
Shares of NASDAQ WDC opened at $563.32 on Wednesday. The stock has a market cap of $194.17 billion, a P/E ratio of 33.63 and a beta of 2.11. The firm’s 50-day simple moving average is $560.28 and its 200 day simple moving average is $379.58. Western Digital Corporation has a fifty-two week low of $65.79 and a fifty-two week high of $799.87.
Western Digital (NASDAQ:WDC – Get Free Report) last released its 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. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the company earned $1.36 EPS. Western Digital’s quarterly revenue was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, sell-side analysts anticipate that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.
Western Digital Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 5th. This is a positive change from Western Digital’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 0.1%. Western Digital’s dividend payout ratio is presently 3.58%.
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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