Decker Retirement Planning Inc. trimmed its stake in Western Digital Corporation (NASDAQ:WDC – Free Report) by 60.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 7,754 shares of the data storage provider’s stock after selling 11,899 shares during the quarter. Decker Retirement Planning Inc.’s holdings in Western Digital were worth $2,097,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of WDC. Rakuten Securities Inc. increased its holdings in shares of Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 407 shares during the period. Avion Wealth lifted its position in Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 113 shares during the last quarter. Swiss RE Ltd. acquired a new position in Western Digital during the 4th quarter valued at about $32,000. BOKF NA boosted its stake in Western Digital by 6,700.0% during the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider’s stock valued at $33,000 after purchasing an additional 268 shares during the period. Finally, JPL Wealth Management LLC bought a new position in Western Digital in the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 92.51% of the company’s stock.
Insider Buying and Selling
In other Western Digital news, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the sale, the chief executive officer directly owned 598,150 shares of the company’s stock, valued at approximately $246,342,096. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the transaction, the director owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. The trade was a 16.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,322 shares of company stock worth $12,768,550 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.
Western Digital Stock Performance
Western Digital (NASDAQ:WDC – Get Free Report) 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 for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the previous year, the firm posted $1.36 EPS. The company’s quarterly revenue was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, research analysts forecast that Western Digital Corporation will post 9.58 EPS for the current fiscal year.
Western Digital Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date was Friday, June 5th. This is a boost from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio is presently 3.58%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on WDC shares. The Goldman Sachs Group restated a “neutral” rating and issued a $400.00 price target on shares of Western Digital in a research note on Friday, May 1st. Evercore reiterated an “outperform” rating and set a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Robert W. Baird increased their price objective on Western Digital from $310.00 to $450.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Wells Fargo & Company raised their target price on Western Digital from $500.00 to $575.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, JPMorgan Chase & Co. lifted their target price on Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Western Digital presently has an average rating of “Moderate Buy” and a consensus target price of $450.46.
Western Digital News Summary
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Micron’s strong quarter is being treated as a read-through for the entire memory/storage group, with investors betting that AI infrastructure demand will keep Western Digital’s business environment favorable. Western Digital Stock And Seagate Get Boost From Big Micron Earnings Beat
- Positive Sentiment: Reports highlighted that AI-related memory demand is outpacing supply, which could support better pricing and margins for Western Digital if current trends continue. AI boom keeps memory chip makers in sweet spot, says expert
- Positive Sentiment: Analysts and market commentators said Micron’s results helped “justify elevated valuations” across memory names, fueling a sector-wide rally that included Western Digital. Sandisk, Western Digital, and others soar as Micron results ‘justify elevated valuations’
- Neutral Sentiment: Technical commentary noted a hammer pattern and improving earnings estimate revisions for WDC, which may be supporting bullish sentiment but is not a fundamental catalyst by itself. Here’s Why Western Digital (WDC) Is a Great ‘Buy the Bottom’ Stock Now
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.
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