NewEdge Advisors LLC Sells 8,355 Shares of Western Digital Corporation $WDC

NewEdge Advisors LLC lowered its position in Western Digital Corporation (NASDAQ:WDC) by 7.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,193 shares of the data storage provider’s stock after selling 8,355 shares during the quarter. NewEdge Advisors LLC’s holdings in Western Digital were worth $67,827,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WDC. Dogwood Wealth Management LLC lifted its position in shares of Western Digital by 28.6% during the second quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock worth $57,000 after purchasing an additional 20 shares during the last quarter. Legacy Wealth Asset Management LLC raised its position in Western Digital by 1.0% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 2,302 shares of the data storage provider’s stock valued at $1,470,000 after purchasing an additional 22 shares in the last quarter. Everpar Advisors LLC raised its position in Western Digital by 1.8% during the 2nd quarter. Everpar Advisors LLC now owns 1,442 shares of the data storage provider’s stock valued at $921,000 after purchasing an additional 25 shares in the last quarter. Ares Financial Consulting LLC lifted its holdings in shares of Western Digital by 45.5% in the 2nd quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock worth $51,000 after buying an additional 25 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its holdings in shares of Western Digital by 2.1% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 1,390 shares of the data storage provider’s stock worth $888,000 after buying an additional 28 shares during the period. 92.51% of the stock is owned by institutional investors.

Trending Headlines about Western Digital

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

• Positive Sentiment: AI demand supports long-term growth prospects. Rising data volumes from AI inference, agentic AI and other emerging workloads could increase demand for Western Digital’s data-storage products, offering a potential structural growth catalyst. AI Data Explosion: Can WDC Become a Bigger Storage Winner?
• Positive Sentiment: Strong free cash flow may support shareholder returns. Western Digital entered fiscal 2027 with improved cash generation and a net cash position. Continued free-cash-flow returns through buybacks and dividends may strengthen the investment case and help support the stock. Can Western Digital’s Strong FCF Sustain Buybacks and Dividends?
• Positive Sentiment: Western Digital showed relative strength during a weaker market session. The stock gained while the overall market dipped, suggesting continued investor demand for the company’s earnings momentum and AI-related storage opportunity. Why the Market Dipped But Western Digital Gained Today
• Neutral Sentiment: Investor attention is elevated. Western Digital was among the stocks heavily searched by Zacks users, which can increase near-term trading interest but does not by itself indicate improving fundamentals or guarantee continued gains. Investors Heavily Search Western Digital Corporation

Western Digital Trading Up 2.1%

Shares of NASDAQ:WDC opened at $477.30 on Wednesday. Western Digital Corporation has a 12-month low of $92.70 and a 12-month high of $799.87. The business has a 50 day moving average of $499.11 and a two-hundred day moving average of $449.44. The company has a market capitalization of $164.52 billion, a PE ratio of 19.72, a PEG ratio of 1.98 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.25. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the firm posted $1.66 earnings per share. The company’s revenue was up 43.8% compared to the same quarter last year. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Equities research analysts predict that Western Digital Corporation will post 19.65 earnings per share for the current fiscal year.

Western Digital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Western Digital’s dividend payout ratio (DPR) is currently 2.48%.

Insider Buying and Selling

In other Western Digital news, insider Cynthia L. Tregillis sold 1,007 shares of Western Digital stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $478.36, for a total transaction of $481,708.52. Following the transaction, the insider directly owned 112,155 shares of the company’s stock, valued at $53,650,465.80. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total value of $8,899,400.00. Following the completion of the transaction, the chief executive officer owned 575,966 shares in the company, valued at $256,287,591.02. This represents a 3.36% 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. Over the last three months, insiders have sold 25,437 shares of company stock worth $11,461,345. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wells Fargo & Company raised their price target on Western Digital from $575.00 to $730.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Barclays upped their price objective on shares of Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Citigroup dropped their target price on Western Digital from $800.00 to $740.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. UBS Group reduced their price objective on shares of Western Digital from $560.00 to $525.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Finally, Fox Advisors cut Western Digital from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $534.56.

About Western Digital

Western Digital Corporation (NASDAQ: WDC) develops, manufactures and sells data storage products and solutions for data centers, cloud service providers, enterprises, businesses and consumers. Its portfolio is centered on hard disk drives (HDDs), including high-capacity enterprise drives used in cloud and data center environments, as well as products for network-attached storage, surveillance and personal computing.

The company markets products under brands including Western Digital, WD, WD_BLACK and Ultrastar.