Western Digital Corporation $WDC Shares Sold by Strs Ohio

Strs Ohio lessened its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 21.3% in the first quarter, HoldingsChannel reports. The firm owned 119,438 shares of the data storage provider’s stock after selling 32,412 shares during the quarter. Strs Ohio’s holdings in Western Digital were worth $32,307,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC purchased a new position in Western Digital in the 1st quarter valued at about $47,000. Avion Wealth grew its holdings in shares of Western Digital by 163.8% during the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after buying an additional 113 shares in the last quarter. Roble Belko & Company Inc acquired a new position in shares of Western Digital in the first quarter valued at approximately $50,000. Swiss RE Ltd. acquired a new position in shares of Western Digital in the fourth quarter valued at approximately $32,000. Finally, Concord Wealth Partners purchased a new position in shares of Western Digital during the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In related news, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 3,903 shares in the company, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 598,150 shares in the company, valued at approximately $246,342,096. This trade represents a 3.24% 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. Insiders sold a total of 29,322 shares of company stock worth $12,768,550 in the last quarter. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WDC shares. Jefferies Financial Group set a $575.00 target price on shares of Western Digital in a research report on Tuesday, May 26th. Wall Street Zen raised Western Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Fox Advisors cut Western Digital from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Citigroup lifted their price objective on Western Digital from $500.00 to $685.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $400.00 target price on shares of Western Digital in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $493.52.

Western Digital Stock Performance

Shares of Western Digital stock opened at $539.00 on Friday. The business’s fifty day moving average price is $539.71 and its 200 day moving average price is $359.19. Western Digital Corporation has a twelve month low of $63.67 and a twelve month high of $799.87. The stock has a market capitalization of $185.78 billion, a P/E ratio of 32.18 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last announced 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. The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm’s revenue was up 45.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, sell-side analysts predict that Western Digital Corporation will post 9.6 EPS for the current year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were given a dividend of $0.15 per share. 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. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Western Digital’s dividend payout ratio is currently 3.58%.

Western Digital News Roundup

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

• Positive Sentiment: Zacks still lists Western Digital as a top momentum stock for Q3 2026, pointing to continued investor interest in the memory chip theme and potential upside if the sector rebound continues.
• Positive Sentiment: MarketBeat noted that the memory rally may still be intact despite the broader semiconductor sell-off, which could support Western Digital if demand for memory chips remains strong.
• Positive Sentiment: A review of WD Red Plus 4TB highlighted the product as a reliable NAS hard drive, reinforcing Western Digital’s reputation in storage hardware.
• Neutral Sentiment: Western Digital was mentioned alongside other decliners as semiconductor stocks fell on fears that AI-driven chip demand may be cooling, suggesting the stock is being dragged by sector sentiment more than a fresh company-specific catalyst.
• Neutral Sentiment: Analyst-focused articles cited Western Digital’s bullish Wall Street view and strong earnings surprise history, but they did not introduce new information likely to move the stock immediately.
• Neutral Sentiment: Retail promotion news from Flipkart’s GOAT Sale included WD-branded storage devices, which is supportive for brand visibility but likely not material to the stock today.
• Negative Sentiment: The steep decline in Western Digital shares followed a broader semiconductor pullback, with investors apparently rotating out of high-flying AI and chip names.
• Negative Sentiment: Articles about Sandisk’s huge post-spin-off rally and the possibility of a stock split may remind investors of competition and relative performance within the storage space, but they mainly add narrative pressure rather than direct upside for WDC.

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.