First Command Advisory Services Inc. purchased a new position in Western Digital Corporation (NASDAQ:WDC – Free Report) during the third quarter, Holdings Channel reports. The institutional investor purchased 1,931 shares of the data storage provider’s stock, valued at approximately $878,000.
Several other large investors also recently modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in Western Digital during the second quarter worth $28,000. Dunhill Financial LLC acquired a new stake in Western Digital during the 2nd quarter worth about $29,000. Valley National Advisers Inc. raised its position in shares of Western Digital by 182.6% in the 3rd quarter. Valley National Advisers Inc. now owns 65 shares of the data storage provider’s stock worth $30,000 after acquiring an additional 42 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Western Digital in the 2nd quarter worth about $31,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Western Digital in the 1st quarter valued at about $32,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.
Western Digital Price Performance
Shares of WDC opened at $313.31 on Thursday. Western Digital Corporation has a one year low of $132.43 and a one year high of $799.87. The company has a market cap of $117.28 billion, a PE ratio of 12.16, a P/E/G ratio of 1.02 and a beta of 2.27. The stock has a 50-day moving average of $397.39 and a 200-day moving average of $419.83.
Western Digital (NASDAQ:WDC – Get Free Report) last posted 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. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.14 billion. Western Digital had a return on equity of 55.62% and a net margin of 69.20%. The firm’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.78 EPS. Analysts expect that Western Digital Corporation will post 23.62 EPS for the current fiscal year.
Western Digital Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, December 4th will be given a dividend of $0.1750 per share. 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. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.2%. Western Digital’s payout ratio is currently 2.72%.
Key Stories Impacting Western Digital
Investors following WDC have been watching these stories:
- Positive Sentiment: Western Digital’s latest outlook calls for quarterly revenue of $5.1 billion and gross margins of up to 61%, reinforcing expectations for strong demand and profitability. Western Digital Stocks Climb as AI Storage Names Rebound
- Positive Sentiment: A rebound across AI and storage hardware shares is helping WDC recover after a sharp pullback. Investors are also weighing its recent earnings beat, strong revenue growth, raised near-term outlook and dividend increase as signs of business momentum and cash generation. Why Western Digital Stock Is Up Today
- Negative Sentiment: Risks include concerns about the sustainability and financing of AI infrastructure spending, which could affect expectations for data-center demand. A shareholder-law-firm investigation announced earlier this week is also a potential, though unsubstantiated, legal overhang. Shareholder Investigation Announcement
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. Wall Street Zen cut Western Digital from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Rosenblatt Securities dropped their price target on Western Digital from $800.00 to $650.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Mizuho set a $490.00 price target on Western Digital in a report on Friday, October 23rd. Argus reduced their price objective on shares of Western Digital from $600.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, October 26th. Finally, Zacks Research upgraded shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $591.04.
Read Our Latest Analysis on WDC
Insider Buying and Selling
In other Western Digital news, insider Vidyadhara K. Gubbi sold 1,795 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $459.87, for a total transaction of $825,466.65. Following the completion of the sale, the insider owned 80,571 shares in the company, valued at approximately $37,052,185.77. The trade was a 2.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Cynthia L. Tregillis sold 1,007 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $478.36, for a total transaction of $481,708.52. Following the transaction, the insider owned 112,155 shares in the company, valued at approximately $53,650,465.80. The trade was a 0.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,436 shares of company stock worth $2,440,664 over the last ninety days. 0.20% of the stock is owned by insiders.
Western Digital Profile
Western Digital Corporation (NASDAQ: WDC) develops and supplies hard disk drives (HDDs) and related data-storage products. Its drives serve data centers and cloud providers, as well as businesses and consumers who need storage for computers, network-attached storage systems, surveillance and other applications. Its product brands include WD and Ultrastar. Founded in 1970, the company began as an electronics and semiconductor business before expanding into data storage. In February 2025, Western Digital completed the separation of its flash-memory business into the independently traded SanDisk Corporation, leaving Western Digital focused on HDDs.
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