Western Digital (NASDAQ:WDC) Shares Climb 9.9% – Here’s What Happened

Western Digital Corporation (NASDAQ:WDC)’s stock price traded up 9.9% on Monday. The company traded as high as $293.39 and last traded at $289.78. Approximately 8,372,282 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 8,714,944 shares. The stock had previously closed at $263.78.

Top Western Digital Stories

Investors following WDC have been watching these stories:

• Positive Sentiment: The rebound follows a sharp selloff in AI and storage hardware. Investors may also be responding to Western Digital’s latest earnings beat, strong near-term revenue outlook, and 17% dividend increase, which support the case for continued storage demand and cash generation. Why Western Digital (WDC) Stock Is Up Today
• Positive Sentiment: A recent valuation analysis argues the stock may look reasonable relative to its earnings despite concerns about AI data-center spending. This could help support sentiment after the pullback, though the article also highlights the stock’s substantial prior gains and volatility. Western Digital (WDC) Stock Looks Reasonable Despite AI Data Center Fears
• Negative Sentiment: Reported insider transactions show executives and other insiders made no open-market purchases and multiple sales over the past six months. Such selling can weigh on sentiment, although it does not by itself establish a negative outlook. Why Western Digital (WDC) Stock Is Up Today

Analysts Set New Price Targets

Several research analysts have commented on the stock. TD Cowen decreased their target price on shares of Western Digital from $540.00 to $430.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Mizuho set a $490.00 price target on shares of Western Digital in a report on Friday, October 23rd. Zacks Research upgraded shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 3rd. Susquehanna set a $405.00 price objective on shares of Western Digital in a research note on Friday, October 23rd. Finally, The Goldman Sachs Group set a $540.00 price objective on shares of Western Digital in a research report on Friday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Western Digital presently has a consensus rating of “Moderate Buy” and an average price target of $591.04.

Western Digital Trading Up 8.3%

The business has a fifty day moving average price of $400.13 and a two-hundred day moving average price of $419.44. The company has a market cap of $117.28 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 1.02 and a beta of 2.27.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, October 22nd. The data storage provider reported $4.64 earnings per share for the quarter, beating the consensus estimate of $4.11 by $0.53. Western Digital had a net margin of 69.20% and a return on equity of 55.62%. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the prior year, the business earned $1.78 EPS. The company’s revenue for the quarter was up 55.5% compared to the same quarter last year. On average, analysts anticipate that Western Digital Corporation will post 23.62 EPS for the current year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, December 4th will be paid a $0.1750 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 0.2%. This is an increase from Western Digital’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, December 4th. Western Digital’s dividend payout ratio is presently 2.33%.

Insider Activity

In related news, insider Vidyadhara K. Gubbi sold 1,795 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $459.87, for a total value of $825,466.65. Following the completion of the sale, the insider owned 80,571 shares of the company’s stock, valued at approximately $37,052,185.77. The trade was a 2.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Cynthia L. Tregillis sold 1,007 shares of Western Digital stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $478.36, for a total transaction of $481,708.52. Following the completion of the sale, the insider owned 112,155 shares of the company’s stock, valued at $53,650,465.80. This trade represents a 0.89% 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 ninety days, insiders sold 5,436 shares of company stock worth $2,440,664. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Western Digital

Hedge funds have recently bought and sold shares of the business. Legal & General Group Plc acquired a new position in shares of Western Digital during the 2nd quarter valued at about $1,602,927,000. Anther Capital Ltd acquired a new stake in Western Digital in the 2nd quarter worth approximately $901,601,000. Deutsche Bank AG acquired a new stake in Western Digital in the 2nd quarter worth approximately $885,565,000. Value Aligned Research Advisors LLC bought a new stake in Western Digital during the first quarter worth approximately $350,403,000. Finally, Trivest Advisors Ltd bought a new stake in Western Digital during the second quarter worth approximately $627,606,000. 92.51% of the stock is owned by institutional investors and hedge funds.

About Western Digital

Western Digital Corporation (NASDAQ: WDC) develops and supplies hard disk drives (HDDs) and related data-storage products. Its drives serve data centers and cloud providers, as well as businesses and consumers who need storage for computers, network-attached storage systems, surveillance and other applications. Its product brands include WD and Ultrastar. Founded in 1970, the company began as an electronics and semiconductor business before expanding into data storage. In February 2025, Western Digital completed the separation of its flash-memory business into the independently traded SanDisk Corporation, leaving Western Digital focused on HDDs.