State of Wyoming decreased its position in Western Digital Corporation (NASDAQ:WDC – Free Report) by 74.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,083 shares of the data storage provider’s stock after selling 12,130 shares during the period. State of Wyoming’s holdings in Western Digital were worth $703,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of WDC. Rakuten Securities Inc. boosted its holdings in shares of Western Digital by 4,070.0% in the second 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 lifted its holdings in Western Digital by 163.8% during 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. Cornerstone Planning Group LLC lifted its holdings in 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 buying an additional 178 shares during the period. BOKF NA lifted its holdings in 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 buying an additional 268 shares during the period. Finally, JPL Wealth Management LLC purchased a new stake in Western Digital during the third quarter worth $33,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.
Western Digital Trading Down 3.1%
Shares of WDC stock opened at $575.50 on Friday. The business’s fifty day simple moving average is $417.75 and its 200-day simple moving average is $293.25. The company has a market cap of $198.36 billion, a PE ratio of 34.36 and a beta of 2.13. Western Digital Corporation has a 12-month low of $54.22 and a 12-month high of $602.54.
Western Digital Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, June 5th. This is a positive change from Western Digital’s previous quarterly dividend of $0.13. Western Digital’s payout ratio is currently 2.99%.
Trending Headlines about Western Digital
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Western Digital’s recent Computex 2026 messaging reinforced the idea that AI demand is not just about chips, but about storage and data movement, supporting the stock’s AI-related momentum. AI isn’t just a compute race. It’s a data race – and storage will decide the winners, WD shares
- Positive Sentiment: Citigroup reportedly raised its price target on Western Digital by 37%, which likely boosted investor confidence and helped send shares to fresh highs. Western Digital (WDC) Hits All-Time High as Citi Hikes PT by 37%
- Positive Sentiment: Western Digital also announced a convertible-debt exchange, which investors may view as a cleaner capital structure that gives the company more flexibility for future AI-related moves. Western Digital Restructures Convertible Debt via Equity Exchange
- Positive Sentiment: Commentary continues to frame Western Digital as a beneficiary of the AI storage supercycle, with tighter supply and firm pricing supporting the earnings outlook. How The Western Digital (WDC) Investment Story Is Shifting With AI Storage And New Valuations
- Positive Sentiment: Western Digital’s recent earnings were strong, with revenue and EPS beating estimates, which continues to underpin the rally in the stock. Western Digital stock and company profile
- Neutral Sentiment: The stock also drew attention from a conference presentation and ongoing coverage, but these items did not introduce a clearly new catalyst on their own. Western Digital Corporation (WDC) Presents at 2026 Evercore Global TMT Conference Transcript
- Negative Sentiment: A small insider sale by a company executive may have slightly cooled sentiment, though it was modest relative to the insider’s remaining holdings. SEC filing for insider sale
- Negative Sentiment: Near-term stock weakness may also reflect broad semiconductor-sector pressure after weak AI-chip commentary from peers, which can spill over into storage names like Western Digital. Micron Drops 7% as Broadcom’s Disappointing AI Outlook Triggers a Semiconductor Selloff
Insider Transactions at Western Digital
In related news, insider Vidyadhara K. Gubbi sold 4,674 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $443.19, for a total value of $2,071,470.06. Following the transaction, the insider directly owned 90,041 shares of the company’s stock, valued at $39,905,270.79. This represents a 4.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cynthia L. Tregillis sold 363 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $377.09, for a total value of $136,883.67. Following the completion of the transaction, the insider directly owned 120,023 shares in the company, valued at approximately $45,259,473.07. The trade was a 0.30% decrease in their ownership of the stock. 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 sold 28,890 shares of company stock valued at $12,532,851 in the last quarter. Insiders own 0.18% of the company’s stock.
Wall Street Analyst Weigh In
WDC has been the subject of a number of analyst reports. Wells Fargo & Company upped their target price on Western Digital from $500.00 to $575.00 and gave the stock an “overweight” rating in a report on Monday. Bank of America upped their target price on Western Digital to $495.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Barclays upped their target price on Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Citigroup upped their target price on Western Digital from $500.00 to $685.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and a consensus price target of $424.33.
Check Out Our Latest Analysis on WDC
About Western Digital
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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