Lmcg Investments LLC Trims Stock Position in Western Digital Corporation $WDC

Lmcg Investments LLC trimmed its holdings in Western Digital Corporation (NASDAQ:WDC) by 30.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,174 shares of the data storage provider’s stock after selling 1,409 shares during the period. Lmcg Investments LLC’s holdings in Western Digital were worth $859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 acquiring an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Western Digital by 229.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after purchasing an additional 967 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Western Digital during the second quarter worth approximately $307,000. Cresset Asset Management LLC purchased a new position in Western Digital during the second quarter worth approximately $292,000. Finally, Federated Hermes Inc. boosted its holdings in shares of Western Digital by 55.3% in the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after purchasing an additional 845 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling

In other news, insider Cynthia L. Tregillis sold 432 shares of Western Digital stock in a transaction that occurred 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 sale, the insider owned 116,643 shares in the company, valued at $63,640,420.80. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the business’s stock in a transaction 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 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 29,322 shares of company stock valued at $12,768,550. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Bank of America boosted their price objective on shares of Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Morgan Stanley lifted their target price on Western Digital from $488.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Weiss Ratings cut Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Rosenblatt Securities boosted their price target on Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $502.12.

Western Digital Trading Up 5.0%

Shares of NASDAQ WDC opened at $578.05 on Friday. Western Digital Corporation has a 12-month low of $64.23 and a 12-month high of $799.87. The company has a market cap of $199.24 billion, a P/E ratio of 34.51 and a beta of 2.11. The stock has a fifty day moving average price of $552.50 and a 200 day moving average price of $371.36.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the previous year, the firm posted $1.36 earnings per share. The firm’s quarterly revenue was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, sell-side analysts forecast that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

The business also recently declared 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 annualized dividend and a yield of 0.1%. Western Digital’s dividend payout ratio is presently 3.58%.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Memory and storage shares rebounded sharply, lifting Western Digital along with peers like Micron, Seagate, and SanDisk as the recent selloff reversed and sentiment improved across the sector. Western Digital and Seagate Surge 7%, Micron and Sandisk Climb 6% as Memory Selloff Reverses
• Positive Sentiment: Micron’s announced $250 billion investment and the broader AI infrastructure trade are boosting confidence in storage and semiconductor names, with Western Digital viewed as a beneficiary of rising data center and memory demand. Western Digital Stock Lifts Following Micron’s $250 Billion Investment
• Positive Sentiment: Analysts and market commentary remain constructive on WDC, citing stronger revenue growth, margin expansion, upbeat guidance, and improving visibility in AI-related storage demand. Micron & One AI Infrastructure Stock to Buy Now for Big Upside
• Neutral Sentiment: Western Digital is accelerating its HAMR roadmap and signing long-term customer deals to meet AI-driven storage demand, which supports the growth story but is still a longer-term catalyst. Will Western Digital’s HAMR Push Accelerate Future Growth?
• Neutral Sentiment: Susquehanna raised its price target on WDC to $500 while keeping a neutral rating, reinforcing that Wall Street sees value but is not uniformly bullish at current levels. Western Digital (NASDAQ:WDC) Price Target Raised to $500.00 at Susquehanna
• Negative Sentiment: Some recent coverage flags valuation risk, noting the stock has already had a huge run and may be expensive on earnings despite optimistic AI-storage expectations. Western Digital (WDC) Stock Looks Cheap On Cash Flow But Rich On Earnings

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.