Elevation Point Wealth Partners LLC Has $13.90 Million Stock Position in Western Digital Corporation $WDC

Elevation Point Wealth Partners LLC increased its position in shares of Western Digital Corporation (NASDAQ:WDC) by 2,688.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 51,393 shares of the data storage provider’s stock after buying an additional 49,550 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Western Digital were worth $13,901,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Western Digital during the 4th quarter worth $788,729,000. Northern Trust Corp grew its position in shares of Western Digital by 11.2% in the third quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock valued at $456,884,000 after purchasing an additional 384,103 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Western Digital by 11.8% in the third quarter. Dimensional Fund Advisors LP now owns 3,804,907 shares of the data storage provider’s stock valued at $456,737,000 after purchasing an additional 402,981 shares during the last quarter. Fred Alger Management LLC increased 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 purchasing an additional 3,339,225 shares during the period. Finally, Soroban Capital Partners LP increased 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 purchasing an additional 2,910,062 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Stock Performance

Shares of Western Digital stock opened at $539.00 on Friday. Western Digital Corporation has a twelve month low of $63.67 and a twelve month high of $799.87. The firm has a market cap of $185.78 billion, a P/E ratio of 32.18 and a beta of 2.10. The firm’s 50-day simple moving average is $536.72 and its 200-day simple moving average is $357.93.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the prior year, the firm posted $1.36 EPS. Western Digital’s quarterly revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities analysts forecast that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.60 annualized dividend and a yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s payout ratio is 3.58%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WDC shares. Wall Street Zen upgraded Western Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Citigroup upped their price target on Western Digital from $500.00 to $685.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. increased their price objective on Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. The Goldman Sachs Group restated a “neutral” rating and issued a $400.00 price objective on shares of Western Digital in a research note on Friday, May 1st. Finally, Barclays boosted their target price on shares of Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $493.52.

More 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 Activity

In other Western Digital news, insider Cynthia L. Tregillis sold 432 shares of the company’s 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 of the company’s stock, valued at approximately $63,640,420.80. This represents a 0.37% decrease in their ownership of the stock. The sale 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, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the sale, the chief executive officer directly owned 598,150 shares of the company’s stock, valued at approximately $246,342,096. The trade was a 3.24% decrease in their position. 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 have sold 29,322 shares of company stock valued at $12,768,550 in the last ninety days. 0.18% of the stock is currently 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.