Nicholas Wealth LLC. Sells 996 Shares of Western Digital Corporation $WDC

Nicholas Wealth LLC. cut its stake in Western Digital Corporation (NASDAQ:WDC) by 44.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,238 shares of the data storage provider’s stock after selling 996 shares during the quarter. Nicholas Wealth LLC.’s holdings in Western Digital were worth $213,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Rothschild Wealth LLC bought a new position in Western Digital in the 4th quarter worth $447,000. L2 Asset Management LLC bought a new position in Western Digital in the 4th quarter worth $295,000. 71 West Capital Partners bought a new position in Western Digital in the 4th quarter worth $330,000. University of Texas Texas AM Investment Management Co. bought a new position in Western Digital in the 4th quarter worth $257,000. Finally, Oarsman Capital Inc. bought a new position in Western Digital in the 4th quarter worth $275,000. 92.51% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Bruce E. Kiddoo sold 750 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $528.52, for a total transaction of $396,390.00. Following the sale, the director directly owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This represents a 16.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the sale, the insider directly owned 116,643 shares in the company, valued at $63,640,420.80. This trade represents a 0.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 29,322 shares of company stock valued at $12,768,550. Company insiders own 0.18% of the company’s stock.

More Western Digital News

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

• Positive Sentiment: Morgan Stanley raised its outlook on Western Digital and boosted its price target, adding to the bullish case that AI data-center growth is driving stronger-than-expected storage demand. Western Digital Stock Just Hit a New All-Time High. Here’s Why.
• Positive Sentiment: Multiple reports say WDC is benefiting from a broader re-rating of AI storage stocks, with investors focused on tight hard-disk supply, sold-out inventory, and higher pricing power. Western Digital stock jumps as AI trade reignites
• Positive Sentiment: Media coverage highlighted a hyperscaler multiyear commitment to Western Digital, reinforcing confidence that demand from large cloud customers remains robust. Hyperscaler’s Multiyear Commitment with Western Digital (WDC) Highlights Robust Demand
• Neutral Sentiment: Investors are also watching June 22 for the planned SanDisk-related swap, which could create another event-driven trading catalyst for WDC. Dear Western Digital Stock Fans, Mark Your Calendars for June 22
• Negative Sentiment: One commentary piece argued the stock may be due for a near-term pullback after its huge run-up this year, suggesting valuation and momentum risks could cap gains in the short term. Western Digital stock looks ripe for a near-term pullback: find out more

Wall Street Analysts Forecast Growth

WDC has been the subject of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Western Digital from $530.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Mizuho upped their price objective on shares of Western Digital from $550.00 to $685.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Bank of America upped their price objective on shares of Western Digital to $495.00 and gave the stock a “buy” rating in a report on Monday, April 27th. The Goldman Sachs Group restated a “neutral” rating and issued a $400.00 price objective on shares of Western Digital in a report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $450.46.

Western Digital Price Performance

Shares of Western Digital stock opened at $681.08 on Wednesday. The company has a 50-day moving average of $462.12 and a 200 day moving average of $316.21. The firm has a market cap of $234.75 billion, a price-to-earnings ratio of 40.66 and a beta of 2.13. Western Digital Corporation has a 1 year low of $57.88 and a 1 year high of $729.92.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (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 net margin of 55.29% and a return on equity of 42.95%. Western Digital’s quarterly revenue was up 45.5% compared to the same quarter last year. During the same period last year, the business earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities analysts anticipate that Western Digital Corporation will post 9.6 EPS for the current year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Friday, June 5th. This is a positive change from Western Digital’s previous quarterly dividend of $0.13. Western Digital’s dividend payout ratio (DPR) is 3.58%.

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.