Nicholas Wealth LLC. Cuts Stake in Western Digital Corporation $WDC

Nicholas Wealth LLC. trimmed its position in shares of Western Digital Corporation (NASDAQ:WDC) by 44.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,238 shares of the data storage provider’s stock after selling 996 shares during the quarter. Nicholas Wealth LLC.’s holdings in Western Digital were worth $213,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Western Digital by 7.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after purchasing an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Western Digital by 229.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after acquiring an additional 967 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Western Digital during the 2nd quarter valued at about $307,000. Cresset Asset Management LLC purchased a new stake in shares of Western Digital during the 2nd quarter valued at about $292,000. Finally, Federated Hermes Inc. boosted its holdings in shares of Western Digital by 55.3% during the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after acquiring an additional 845 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 4,674 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $443.19, for a total value of $2,071,470.06. Following the transaction, the insider owned 90,041 shares of the company’s stock, valued at approximately $39,905,270.79. This trade represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction that occurred on 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 directly owned 3,903 shares in the company, valued at approximately $2,062,813.56. The trade was a 16.12% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 29,322 shares of company stock worth $12,768,550. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WDC. Citigroup raised their price target on shares of Western Digital from $500.00 to $685.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Wall Street Zen raised shares of Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings raised shares of Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 15th. Mizuho raised their price target on shares of Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $400.00 price target on shares of Western Digital in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $450.46.

More Western Digital News

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

• Positive Sentiment: Morgan Stanley raised its outlook on Western Digital and boosted its price target, adding to the bullish case that AI data-center growth is driving stronger-than-expected storage demand. Western Digital Stock Just Hit a New All-Time High. Here’s Why.
• Positive Sentiment: Multiple reports say WDC is benefiting from a broader re-rating of AI storage stocks, with investors focused on tight hard-disk supply, sold-out inventory, and higher pricing power. Western Digital stock jumps as AI trade reignites
• Positive Sentiment: Media coverage highlighted a hyperscaler multiyear commitment to Western Digital, reinforcing confidence that demand from large cloud customers remains robust. Hyperscaler’s Multiyear Commitment with Western Digital (WDC) Highlights Robust Demand
• Neutral Sentiment: Investors are also watching June 22 for the planned SanDisk-related swap, which could create another event-driven trading catalyst for WDC. Dear Western Digital Stock Fans, Mark Your Calendars for June 22
• Negative Sentiment: One commentary piece argued the stock may be due for a near-term pullback after its huge run-up this year, suggesting valuation and momentum risks could cap gains in the short term. Western Digital stock looks ripe for a near-term pullback: find out more

Western Digital Trading Up 4.2%

WDC opened at $681.08 on Wednesday. The company has a market cap of $234.75 billion, a price-to-earnings ratio of 40.66 and a beta of 2.13. The company’s 50 day moving average is $462.12 and its 200 day moving average is $316.21. Western Digital Corporation has a 12-month low of $57.88 and a 12-month high of $729.92.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data 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. 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 firm’s revenue was up 45.5% compared to the same quarter last year. During the same quarter last 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, analysts predict that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be issued a $0.15 dividend. 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital’s payout ratio is 3.58%.

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.