Western Digital Corporation $WDC Stock: XXI Wealth LLC Cuts Position

Posted by Francis Steltz on Oct 24th, 2026

XXI Wealth LLC lowered its stake in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) by 40.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,274 shares of the data storage provider’s stock after selling 2,237 shares during the period. XXI Wealth LLC’s holdings in Western Digital were worth $1,488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Yousif Capital Management LLC increased its stake in shares of Western Digital by 2.3% in the third quarter. Yousif Capital Management LLC now owns 33,170 shares of the data storage provider’s stock worth $15,074,000 after acquiring an additional 748 shares during the last quarter. Brookstone Capital Management boosted its position in Western Digital by 4.5% during the third quarter. Brookstone Capital Management now owns 44,104 shares of the data storage provider’s stock valued at $20,043,000 after purchasing an additional 1,880 shares during the last quarter. Vest Financial LLC boosted its position in Western Digital by 141.4% during the third quarter. Vest Financial LLC now owns 78,950 shares of the data storage provider’s stock valued at $35,880,000 after purchasing an additional 46,248 shares during the last quarter. AMG Asset Management Group Inc. boosted its position in Western Digital by 104.3% during the third quarter. AMG Asset Management Group Inc. now owns 1,040 shares of the data storage provider’s stock valued at $473,000 after purchasing an additional 531 shares during the last quarter. Finally, Trifecta Capital Advisors LLC grew its stake in Western Digital by 4,700.0% in the third quarter. Trifecta Capital Advisors LLC now owns 144 shares of the data storage provider’s stock valued at $65,000 after purchasing an additional 141 shares in the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Western Digital

In related news, insider Cynthia Tregillis sold 1,007 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $478.36, for a total value of $481,708.52. Following the completion of the sale, the insider directly owned 112,155 shares in the company, valued at approximately $53,650,465.80. The trade was a 0.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara Gubbi sold 1,795 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $459.87, for a total value of $825,466.65. Following the sale, the insider directly owned 80,571 shares of the company’s stock, valued at $37,052,185.77. The trade was a 2.18% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 25,436 shares of company stock valued at $11,340,064. Corporate insiders own 0.20% of the company’s stock.

Key Headlines Impacting Western Digital

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

Positive Sentiment: Western Digital reported fiscal Q1 2027 adjusted EPS of $4.64, above the roughly $4.09–$4.11 consensus, while revenue rose 55.5% year over year to $4.38 billion. Growth was driven by strong cloud and data-center demand, higher-capacity drives and improved pricing. Western Digital Q1 earnings and revenues beat estimates
Positive Sentiment: Management issued substantially stronger-than-expected fiscal Q2 guidance, calling for revenue of approximately $5.0 billion to $5.2 billion and adjusted EPS of $5.60 to $6.00, versus consensus estimates near $4.5 billion and $4.72, respectively. Western Digital forecasts strong second-quarter growth
Positive Sentiment: AI-related storage demand remains durable, with management citing growing requirements from inference, robotics and long-term data retention. Analysts and industry commentators expect HDDs to remain an important, cost-effective storage layer for data centers, potentially supporting demand visibility into 2030–2031. Western Digital CEO discusses durable AI storage demand
Positive Sentiment: Western Digital generated about $1.38 billion in free cash flow and increased its quarterly dividend 16.7% to $0.175 per share. JPMorgan also raised its price target to $650 and maintained an overweight rating. Western Digital Q1 revenue and dividend update
Neutral Sentiment: Other analysts remained bullish but reduced some price targets, reflecting elevated expectations and uncertainty around the pace of future growth. TD Cowen, for example, lowered its target to $430 while retaining a buy rating; Rosenblatt and Cantor Fitzgerald also cut targets but remained positive.
Negative Sentiment: The stock’s strong results were not enough to overcome a broad sell-off in AI, memory and technology shares. Investors are questioning whether hyperscaler capital spending can remain elevated and whether Western Digital’s unusually strong HDD pricing and margins are sustainable.
Negative Sentiment: Higher planned capital expenditures, possible industry supply increases, inventory concerns and execution risks surrounding the HAMR technology transition are weighing on sentiment. Management also acknowledged that HDD price growth could eventually moderate. Western Digital faces capex and supply concerns
Negative Sentiment: A disclosed insider sale of 807 shares worth approximately $306,660 added a modest sentiment overhang, although it was conducted under a pre-arranged Rule 10b5-1 plan and represented only a small portion of the insider’s holdings. SEC insider transaction filing

Western Digital Trading Down 3.0%

Western Digital stock traded down $10.52 during mid-day trading on Friday, hitting $343.67. 13,914,877 shares of the company’s stock were exchanged, compared to its average volume of 9,494,005. Western Digital Corporation has a 1-year low of $121.85 and a 1-year high of $799.87. The stock has a 50 day moving average of $432.18 and a two-hundred day moving average of $479.51. The stock has a market cap of $128.64 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.50 and a beta of 2.11.

Western Digital (NASDAQ:WDC – Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The data storage provider reported $4.64 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $0.53. Western Digital had a return on equity of 56.91% and a net margin of 69.20%. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The business’s quarterly revenue was up 55.5% compared to the same quarter last year. As a group, research analysts predict that Western Digital Corporation will post 19.69 EPS for the current fiscal year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, December 4th will be paid a $0.1750 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, December 4th. This is a positive change from Western Digital’s previous quarterly dividend of $0.15. Western Digital’s dividend payout ratio (DPR) is 2.48%.

Wall Street Analyst Weigh In

WDC has been the topic of several research reports. UBS Group reaffirmed a “buy” rating on shares of Western Digital in a research report on Friday. Zacks Research downgraded Western Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. TD Cowen cut their price objective on shares of Western Digital from $540.00 to $430.00 and set a “buy” rating on the stock in a research report on Friday. BNP Paribas Exane raised their price objective on shares of Western Digital from $660.00 to $700.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, Rosenblatt Securities reduced their target price on shares of Western Digital from $800.00 to $650.00 and set a “buy” rating for the company in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $584.00.

Check Out Our Latest Stock Analysis on Western Digital

Western Digital Profile

(Free Report)

Western Digital Corporation (NASDAQ: WDC) is a data storage technology company that develops and manufactures hard disk drives (HDDs) and related storage solutions. Its products are used in data centers, cloud infrastructure, enterprise systems, personal computers, gaming platforms and external storage devices.

The company offers HDD-based products for business and consumer applications, including high-capacity drives designed for hyperscale and cloud data centers, enterprise storage environments, network-attached storage systems and personal computing.