Bellwether Advisors LLC Increases Position in Western Digital Corporation $WDC

Bellwether Advisors LLC grew its position in Western Digital Corporation (NASDAQ:WDC) by 77.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,429 shares of the data storage provider’s stock after purchasing an additional 13,686 shares during the quarter. Western Digital makes up 1.4% of Bellwether Advisors LLC’s investment portfolio, making the stock its 16th largest position. Bellwether Advisors LLC’s holdings in Western Digital were worth $8,501,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Western Digital by 7.7% in the first 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. boosted its position in shares of Western Digital by 229.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after acquiring an additional 967 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Western Digital in the 2nd quarter valued at about $307,000. Cresset Asset Management LLC purchased a new position in shares of Western Digital in the 2nd quarter valued at about $292,000. Finally, Federated Hermes Inc. raised its position in shares of Western Digital by 55.3% during the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock worth $152,000 after acquiring an additional 845 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Stock Up 12.5%

Shares of NASDAQ WDC opened at $548.39 on Wednesday. The stock has a market cap of $189.02 billion, a PE ratio of 32.74 and a beta of 2.11. Western Digital Corporation has a 52-week low of $66.04 and a 52-week high of $799.87. The business has a 50-day moving average price of $561.52 and a 200 day moving average price of $390.88.

Western Digital (NASDAQ:WDC) last released 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. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. The firm’s 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. Sell-side analysts anticipate that Western Digital Corporation will post 9.61 earnings per share for the current year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were given a dividend of $0.15 per share. 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 was Friday, June 5th. Western Digital’s payout ratio is 3.58%.

Insider Buying and Selling at Western Digital

In related news, Director Bruce E. Kiddoo sold 750 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director owned 3,903 shares in the company, valued at $2,062,813.56. This represents a 16.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the stock in a transaction 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 owned 598,150 shares of the company’s stock, valued at approximately $246,342,096. This represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 28,959 shares of company stock valued at $12,631,666. Insiders own 0.18% of the company’s stock.

Trending Headlines about Western Digital

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

• Positive Sentiment: Western Digital is benefiting from a sector-wide rebound in semiconductors, with investors buying back into memory stocks after a steep pullback. Why Is Western Digital Stock Surging on Tuesday?
• Positive Sentiment: Reports that AI is driving stronger memory and storage demand are supporting the bull case for Western Digital, with analysts expecting a continued recovery in pricing and earnings power. NVIDIA Isn’t Leading AI Stocks in 2026 – These 2 Are Up Over 180%
• Positive Sentiment: Several market summaries say Western Digital is part of a broad AI trade rebound, alongside Micron and SanDisk, as investors look ahead to major tech earnings and a potential memory upgrade cycle. Chip Stocks Surge but Software Sector Feels the Pain Again
• Neutral Sentiment: Western Digital has also been mentioned in commentary about a possible 2027 hardware refresh cycle tied to AI memory growth, which could help long-term demand but is still more of a future thesis than a near-term catalyst. AAPL, HPQ, SNDK, WDC: Gene Munster Says ‘Memory Hog’ AI Will Trigger a Massive 2027 Upgrade Cycle

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WDC shares. Bank of America boosted their target price on Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Sanford C. Bernstein upgraded shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price target on the stock in a research note on Tuesday, March 31st. Mizuho raised 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. Rosenblatt Securities boosted their price objective on shares of Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, TD Cowen upped their target price on shares of Western Digital from $325.00 to $500.00 and gave the company a “buy” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and a consensus target price of $520.32.

Western Digital 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.