Western Digital Corporation $WDC Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 22.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 16,684 shares of the data storage provider’s stock after acquiring an additional 3,035 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Western Digital were worth $4,513,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Western Digital by 7.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after buying an additional 3,019 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Western Digital by 229.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after purchasing an additional 967 shares during the period. Sivia Capital Partners LLC bought a new position in Western Digital during the 2nd quarter valued at $307,000. Cresset Asset Management LLC bought a new stake in shares of Western Digital in the 2nd quarter worth $292,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Western Digital by 55.3% in the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after buying an additional 845 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Western Digital Stock Performance

WDC stock opened at $582.59 on Monday. The firm has a 50 day simple moving average of $555.90 and a 200 day simple moving average of $374.22. Western Digital Corporation has a 52 week low of $64.23 and a 52 week high of $799.87. The stock has a market cap of $200.81 billion, a P/E ratio of 34.78 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the business earned $1.36 EPS. The company’s revenue for the quarter 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. Sell-side analysts predict that Western Digital Corporation will post 9.6 EPS for the current year.

Western Digital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. 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. Western Digital’s dividend payout ratio (DPR) is currently 3.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WDC shares. Zacks Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Wall Street Zen raised Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Wells Fargo & Company raised their price objective on Western Digital from $575.00 to $730.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays upped their target price on Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Finally, TD Cowen boosted their price objective on Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $508.32.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Analysts turned more bullish on Western Digital, with reports highlighting strong AI storage demand and multiple price-target hikes, including Susquehanna’s increase to $500 and broader Wall Street optimism. Seagate Stock Rises After Analyst Upgrades To Buy. Western Digital Nabs Price-Target Hike.
• Positive Sentiment: Recent articles say WDC is benefiting from a rebound in memory and storage stocks as investors regain confidence in AI infrastructure spending and storage demand. Western Digital and Seagate Surge 7%, Micron and SanDisk Climb 6% as Memory Selloff Reverses
• Positive Sentiment: Zacks and other commentary continue to frame Western Digital as an AI infrastructure winner, citing strong revenue growth, margin expansion, and an improved outlook for future earnings. Micron & One AI Infrastructure Stock to Buy Now for Big Upside
• Neutral Sentiment: One item flagged an apparent short-interest update showing zero shares reported, but the data appears unusual and is unlikely to be a meaningful trading signal on its own.
• Negative Sentiment: Some valuation-focused commentary suggests the stock may be getting expensive on earnings metrics even after its strong run, which could limit upside if growth expectations cool. Western Digital (WDC) Stock Looks Cheap On Cash Flow But Rich On Earnings

Insider Transactions at Western Digital

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $411.84, for a total value of $8,236,800.00. Following the transaction, the chief executive officer owned 598,150 shares in the company, valued at $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. 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 completion of the transaction, the insider directly owned 85,154 shares in the company, valued at approximately $47,366,060.96. The trade was a 2.82% decrease in their ownership of the stock. 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 in the last three months. 0.18% of the stock is currently owned by insiders.

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.