Kestra Private Wealth Services LLC Has $3.37 Million Stock Holdings in Western Digital Corporation $WDC

Kestra Private Wealth Services LLC decreased its position in Western Digital Corporation (NASDAQ:WDC) by 7.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 12,439 shares of the data storage provider’s stock after selling 985 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Western Digital were worth $3,365,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in Western Digital during the 4th quarter valued at about $788,729,000. Northern Trust Corp increased its holdings in shares of Western Digital by 11.2% during the third quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock worth $456,884,000 after buying an additional 384,103 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Western Digital by 11.8% during the third quarter. Dimensional Fund Advisors LP now owns 3,804,907 shares of the data storage provider’s stock worth $456,737,000 after buying an additional 402,981 shares in the last quarter. Fred Alger Management LLC raised 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 valued at $409,049,000 after acquiring an additional 3,339,225 shares during the last quarter. Finally, Soroban Capital Partners LP raised 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 valued at $195,882,000 after acquiring an additional 2,910,062 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 432 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the completion of the sale, the insider owned 116,643 shares in the company, valued at approximately $63,640,420.80. The trade was a 0.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 on 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 completion of the transaction, the chief executive officer owned 598,150 shares in the company, valued at $246,342,096. This represents a 3.24% decrease in their ownership of the stock. 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 sold a total of 29,322 shares of company stock valued at $12,768,550 in the last three months. Insiders own 0.18% of the company’s stock.

Western Digital News Summary

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

• Positive Sentiment: Micron’s strong quarterly results reinforced the AI-driven memory shortage theme, which has lifted Western Digital along with other memory stocks. Western Digital Stock And Seagate Get Boost From Big Micron Earnings Beat
• Positive Sentiment: Analysts and commentators continue to highlight strong AI memory demand, rising estimate revisions, and favorable supply-demand dynamics for WDC. Micron’s Robust Q3 Results Raise Investor Attention on These 3 Stocks
• Neutral Sentiment: Reports of SK Hynix planning a Nasdaq listing on July 10 add more attention to the broader memory ecosystem, but the direct impact on WDC is unclear. Is the Roundhill Memory ETF (DRAM) a Buy Before July 10?
• Negative Sentiment: After the sector’s big rally, memory and semiconductor stocks are pulling back as investors take profits and worry that memory and storage costs may have gotten ahead of fundamentals. MU, SNDK, WDC: 3 Key Reasons Why Memory Stocks Are Falling Today
• Negative Sentiment: Broader tech-sector weakness is weighing on WDC alongside other chip names, adding to the selloff in the group. Semiconductor stocks retreat over worries about memory costs

Western Digital Stock Down 13.2%

Shares of WDC stock opened at $586.45 on Friday. The firm has a market cap of $202.14 billion, a price-to-earnings ratio of 35.01 and a beta of 2.13. Western Digital Corporation has a 12 month low of $62.65 and a 12 month high of $799.87. The stock has a 50-day moving average price of $518.00 and a 200 day moving average price of $344.63.

Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company’s revenue was up 45.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.36 EPS. 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 earnings per share for the current fiscal year.

Western Digital Increases Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on WDC. JPMorgan Chase & Co. increased their price target on Western Digital from $530.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Morgan Stanley lifted their price objective on Western Digital from $488.00 to $650.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Weiss Ratings lowered Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. The Goldman Sachs Group restated a “neutral” rating and set a $400.00 target price on shares of Western Digital in a report on Friday, May 1st. Finally, Barclays raised their target price on Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and an average target price of $450.46.

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.