Vidyadhara Gubbi Sells 2,475 Shares of Western Digital (NASDAQ:WDC) Stock

Western Digital Corporation (NASDAQ:WDC) insider Vidyadhara Gubbi sold 2,475 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $556.24, for a total value of $1,376,694.00. Following the sale, the insider owned 85,154 shares of the company’s stock, valued at $47,366,060.96. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $594.11 on Thursday. The firm has a market capitalization of $204.78 billion, a PE ratio of 35.47 and a beta of 2.13. The business has a 50-day moving average of $412.26 and a two-hundred day moving average of $290.30. Western Digital Corporation has a 12 month low of $53.47 and a 12 month high of $602.54.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.39 by $0.33. The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm’s revenue was up 45.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, research analysts anticipate that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be paid 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 payout ratio is currently 2.99%.

Key Western Digital News

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

• Positive Sentiment: Western Digital disclosed a privately negotiated exchange of convertible debt, helping reduce refinancing risk and signaling further progress in cleaning up its balance sheet. Investors appear to view the move as freeing up more flexibility for future AI-related investments. Western Digital Restructures Convertible Debt via Equity Exchange
• Positive Sentiment: Multiple recent articles highlighted Western Digital as a beneficiary of the AI storage boom, with demand for memory and data storage rising across cloud, AI, IoT, and enterprise markets. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
• Positive Sentiment: Commentary this week also emphasized that Western Digital’s AI storage trade still has room to run, reinforcing bullish sentiment around the stock’s long-term growth story. Western Digital: The AI Storage Trade Still Has Room To Run
• Neutral Sentiment: Western Digital’s conference appearances kept the company in view, but the headlines did not point to a major new operating update or guidance change. Western Digital Corporation (WDC) Presents at 2026 Evercore Global TMT Conference Transcript
• Neutral Sentiment: Several writeups said Western Digital has strong momentum and all-time highs, but one article argued the stock may already be expensive after a huge run, which tempers the near-term upside case. Up 1,000% in the Past Year, It’s Too Late to Buy Western Digital Stock
• Negative Sentiment: An insider sale by Vidyadhara K. Gubbi was disclosed, which can slightly pressure sentiment even though the sale was small relative to the insider’s remaining holdings. SEC filing for insider sale

Institutional Investors Weigh In On Western Digital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WCM Investment Management LLC acquired a new position in shares of Western Digital in the third quarter worth about $791,317,000. Norges Bank acquired a new position in shares of Western Digital in the fourth quarter worth about $788,729,000. Fred Alger Management LLC lifted its stake in shares of Western Digital by 4,923.9% in the third quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock worth $409,049,000 after acquiring an additional 3,339,225 shares in the last quarter. Soroban Capital Partners LP lifted its stake in shares of Western Digital by 1,926.3% in the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after acquiring an additional 2,910,062 shares in the last quarter. Finally, Polar Capital Holdings Plc acquired a new position in shares of Western Digital in the third quarter worth about $221,800,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

WDC has been the subject of several research analyst reports. Jefferies Financial Group set a $575.00 price target on Western Digital in a research note on Tuesday, May 26th. Wall Street Zen raised Western Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Evercore reaffirmed an “outperform” rating and issued a $575.00 target price on shares of Western Digital in a research report on Tuesday, May 26th. Barclays upped their target price on Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Finally, Mizuho set a $470.00 target price on Western Digital in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $424.33.

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.