Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,216 shares of the data storage provider’s stock, valued at approximately $329,000.
A number of other institutional investors have also recently made changes to their positions in WDC. Janney Montgomery Scott LLC increased its stake in Western Digital by 5.9% during the first quarter. Janney Montgomery Scott LLC now owns 25,741 shares of the data storage provider’s stock worth $6,963,000 after acquiring an additional 1,444 shares during the last quarter. J. L. Bainbridge & Co. Inc. bought a new stake in shares of Western Digital in the 1st quarter valued at approximately $227,000. Adams Diversified Equity Fund Inc. purchased a new position in shares of Western Digital in the 1st quarter worth approximately $5,545,000. ABN AMRO Bank N.V. purchased a new position in shares of Western Digital in the 1st quarter worth approximately $418,000. Finally, First United Bank & Trust bought a new position in shares of Western Digital during the 1st quarter valued at approximately $103,000. Institutional investors own 92.51% of the company’s stock.
Western Digital Price Performance
Shares of WDC stock opened at $539.00 on Friday. The company has a market capitalization of $185.78 billion, a P/E ratio of 32.18 and a beta of 2.10. The company’s 50-day simple moving average is $536.72 and its two-hundred day simple moving average is $357.93. Western Digital Corporation has a one year low of $63.67 and a one year high of $799.87.
Western Digital Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were given a dividend of $0.15 per share. This is a boost from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Western Digital’s dividend payout ratio is presently 3.58%.
Analysts Set New Price Targets
Several analysts recently weighed in on WDC shares. Evercore restated an “outperform” rating and issued a $575.00 price target on shares of Western Digital in a research report on Tuesday, May 26th. Fox Advisors cut shares of Western Digital from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Bank of America increased their target price on shares of Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald raised their target price on shares of Western Digital from $660.00 to $900.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Barclays raised their target price on shares of Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Two research 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 stock. Based on data from MarketBeat.com, Western Digital has a consensus rating of “Moderate Buy” and a consensus target price of $493.52.
Check Out Our Latest Stock Analysis on Western Digital
Key Western Digital News
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Bank of America raised its price target on Western Digital to $732 from $610 and reiterated a buy rating, signaling confidence in further upside. Benzinga report on Bank of America price target hike
- Positive Sentiment: Melius Research upgraded Western Digital to strong-buy, adding to the list of bullish analyst views on the stock. Zacks report on Melius upgrade
- Positive Sentiment: Zacks said Western Digital has an impressive earnings surprise record and the right setup to potentially beat estimates again in its next quarterly report. Article: Will Western Digital (WDC) Beat Estimates Again in Its Next Earnings Report?
- Positive Sentiment: Western Digital was included in Zacks’ list of top momentum stocks for Q3 2026, reflecting continued investor interest in AI-driven storage names. Article: 5 Top-Ranked Momentum Stock Picks for Q3 2026 After a Fabulous Q2
- Neutral Sentiment: Analysts are revisiting fair value estimates as they reassess AI storage demand, HDD pricing, and Western Digital’s product roadmap, keeping the valuation debate active. Article: Western Digital Stock Gets Fair Value Boost As Analysts Reassess AI Storage Demand
- Negative Sentiment: WDC was hit by a broader memory-chip and semiconductor pullback, as investors rotated out of some of this year’s hottest names. Article: Micron Drops 8%, SanDisk Slumps 10%, Western Digital Falls 7% as Memory Stocks Pull Back With the Nasdaq
Insider Transactions at Western Digital
In other news, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $545.60, for a total transaction of $235,699.20. Following the transaction, the insider owned 116,643 shares of the company’s stock, valued at approximately $63,640,420.80. This represents a 0.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the transaction, the director directly owned 3,903 shares in the company, valued at $2,062,813.56. The trade was a 16.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,322 shares of company stock valued at $12,768,550 over the last 90 days. 0.18% of the stock is owned by corporate insiders.
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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