Cary Street Partners Investment Advisory LLC purchased a new position in Western Digital Corporation (NASDAQ:WDC – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,242 shares of the data storage provider’s stock, valued at approximately $214,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Avion Wealth raised its holdings in shares of 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 last quarter. Concord Wealth Partners purchased a new position in shares of Western Digital in the fourth quarter worth $41,000. Cullen Frost Bankers Inc. increased its stake in shares of Western Digital by 551.4% in the third quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 204 shares during the period. Cornerstone Planning Group LLC raised its holdings 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 worth $32,000 after purchasing an additional 178 shares during the last quarter. Finally, BOKF NA raised its holdings in shares of Western Digital by 6,700.0% during the third quarter. BOKF NA now owns 272 shares of the data storage provider’s stock worth $33,000 after purchasing an additional 268 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.
Western Digital News Roundup
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Shares are benefiting from a strong sector-wide “memory melt-up,” with AI infrastructure demand supporting higher pricing power and improving earnings expectations for storage makers like Western Digital. Not Just Micron: Memory Melt-Up Pulls SanDisk Up 8%, Western Digital Up 10%
- Positive Sentiment: Evercore reportedly raised its price target on Western Digital to $575, calling the stock “underappreciated” as hard disk drives remain critical for AI data-center buildouts. Hard Disk Drives Are Critical for AI but Western Digital Stock Is Still Underappreciated Here
- Positive Sentiment: Recent coverage highlights Western Digital as a key beneficiary of the AI memory/storage supercycle, with investors searching the name more heavily after strong momentum in peers like Micron and SanDisk. Micron’s $1 Trillion Memory Melt-Up
- Neutral Sentiment: An insider sale by Cynthia L. Tregillis was disclosed, but it was small relative to her holdings and was made under a pre-arranged 10b5-1 trading plan, so it is unlikely to be a major negative signal for investors. SEC filing
- Neutral Sentiment: Another insider sale was also reported the same day, adding to activity that may look cautious, but the transactions appear routine rather than clearly bearish. SEC filing
Insider Activity at Western Digital
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the stock. Jefferies Financial Group set a $575.00 target price on shares of Western Digital in a report on Tuesday. TD Cowen raised their target price on shares of Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. The Goldman Sachs Group reissued a “neutral” rating and set a $400.00 target price on shares of Western Digital in a report on Friday, May 1st. Wedbush reissued an “outperform” rating and set a $325.00 target price on shares of Western Digital in a report on Monday, February 9th. Finally, Weiss Ratings raised shares of Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Western Digital has a consensus rating of “Moderate Buy” and an average target price of $413.50.
Read Our Latest Research Report on Western Digital
Western Digital Stock Performance
WDC stock opened at $530.60 on Thursday. The firm has a market cap of $182.89 billion, a PE ratio of 31.68 and a beta of 2.10. The firm’s fifty day moving average is $387.41 and its 200 day moving average is $276.68. Western Digital Corporation has a one year low of $51.17 and a one year high of $546.68.
Western Digital (NASDAQ:WDC – Get Free Report) last released 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 analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Research analysts predict that Western Digital Corporation will post 9.57 earnings per share for the current fiscal year.
Western Digital Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be given a dividend of $0.15 per share. This is a boost from Western Digital’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, June 5th. Western Digital’s dividend payout ratio (DPR) is 2.99%.
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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