Sequoia Financial Advisors LLC Boosts Stock Position in Western Digital Corporation $WDC

Sequoia Financial Advisors LLC increased its stake in Western Digital Corporation (NASDAQ:WDC) by 96.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,649 shares of the data storage provider’s stock after buying an additional 6,694 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Western Digital were worth $2,351,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Avion Wealth grew its stake in shares of Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after buying an additional 113 shares during the last quarter. ORG Partners LLC grew its stake in shares of Western Digital by 124.5% in the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock worth $25,000 after buying an additional 117 shares during the last quarter. Concord Wealth Partners purchased a new stake in shares of Western Digital in the 4th quarter worth approximately $41,000. Cullen Frost Bankers Inc. grew its stake in shares of Western Digital by 551.4% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock worth $29,000 after buying an additional 204 shares during the last quarter. Finally, Westfuller Advisors LLC purchased a new stake in shares of Western Digital in the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Activity

In other news, insider Cynthia L. Tregillis sold 9,324 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $268.27, for a total transaction of $2,501,349.48. Following the transaction, the insider directly owned 121,682 shares of the company’s stock, valued at $32,643,630.14. This represents a 7.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Vidyadhara K. Gubbi sold 10,148 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $270.31, for a total value of $2,743,105.88. Following the transaction, the insider directly owned 107,794 shares in the company, valued at $29,137,796.14. The trade was a 8.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 53,679 shares of company stock valued at $18,049,314 in the last ninety days. 0.18% of the stock is currently owned by company insiders.

More Western Digital News

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

• Positive Sentiment: Wall Street analysts remain upbeat on Western Digital, with firms lifting price targets and Zacks upgrading the stock to Strong Buy, signaling rising confidence in demand trends and earnings momentum. Zacks Research upgrade
• Positive Sentiment: Coverage is highlighting Western Digital as a beneficiary of the AI memory and data-center storage supercycle, with demand for high-capacity storage solutions expected to stay elevated. Motley Fool article
• Positive Sentiment: The company’s recent earnings beat, raised guidance, and multiple target increases from analysts continue to support the stock’s sharp year-to-date gain and keep momentum investors engaged. Yahoo Finance article
• Neutral Sentiment: Western Digital also announced progress on simplifying its structure by unwinding its remaining Sandisk stake through share swaps and future distributions, which may help investors better value WDC as a more focused storage pure play. Yahoo Finance share swap article

Analyst Ratings Changes

WDC has been the topic of several recent research reports. Rosenblatt Securities upped their price target on Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Bank of America upped their price objective on Western Digital to $495.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $488.00 price objective on shares of Western Digital in a research report on Friday, May 1st. New Street Research set a $250.00 price objective on Western Digital in a research report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Western Digital from $320.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Western Digital presently has an average rating of “Moderate Buy” and an average price target of $395.83.

Western Digital Trading Up 0.0%

WDC stock opened at $480.09 on Monday. The stock’s 50 day simple moving average is $325.84 and its 200 day simple moving average is $242.16. The stock has a market capitalization of $165.48 billion, a PE ratio of 28.66 and a beta of 2.10. Western Digital Corporation has a 12-month low of $43.88 and a 12-month high of $483.87.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company’s revenue was up 45.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, research analysts predict that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, June 5th. This is a positive change from Western Digital’s previous quarterly dividend of $0.13. Western Digital’s payout ratio is currently 2.99%.

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.