Citizens Financial Group Inc. RI Has $1.99 Million Stake in Western Digital Corporation $WDC

Citizens Financial Group Inc. RI raised its position in shares of Western Digital Corporation (NASDAQ:WDC) by 38.3% during the first quarter, HoldingsChannel.com reports. The fund owned 7,358 shares of the data storage provider’s stock after buying an additional 2,037 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Western Digital were worth $1,990,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Fifth Third Bancorp boosted its position in shares of Western Digital by 257.5% during the 1st quarter. Fifth Third Bancorp now owns 72,692 shares of the data storage provider’s stock valued at $19,663,000 after purchasing an additional 52,359 shares in the last quarter. Warburton Capital Management LLC bought a new stake in Western Digital in the first quarter worth approximately $214,000. Simplicity Wealth LLC acquired a new position in Western Digital in the first quarter valued at approximately $439,000. Sequoia Financial Advisors LLC lifted its stake in Western Digital by 22.2% in the first quarter. Sequoia Financial Advisors LLC now owns 16,684 shares of the data storage provider’s stock valued at $4,513,000 after buying an additional 3,035 shares during the period. Finally, Kornitzer Capital Management Inc. KS bought a new position in shares of Western Digital during the 1st quarter worth approximately $588,000. 92.51% of the stock is owned by institutional investors.

Western Digital Stock Performance

NASDAQ:WDC opened at $555.55 on Tuesday. Western Digital Corporation has a 52 week low of $65.24 and a 52 week high of $799.87. The firm has a 50-day moving average price of $558.32 and a two-hundred day moving average price of $376.88. The firm has a market cap of $191.49 billion, a price-to-earnings ratio of 33.17 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share 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 quarterly revenue was up 45.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, sell-side analysts forecast that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were paid a $0.15 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is a positive change from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio (DPR) is presently 3.58%.

More Western Digital News

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

• Negative Sentiment: WDC slid in sympathy with the memory-chip sector after SK Hynix’s steep decline reignited concerns about valuations and near-term earnings in AI-related memory stocks. Western Digital Stock Drops: Why an Aggressive SK Hynix Reversal Is Shaking Up the Chip Sector
• Negative Sentiment: The broader group also weakened after reports that SK Hynix’s weak profit forecast and post-IPO reversal triggered selling across chip and storage names, including Western Digital. Micron, SanDisk, Western Digital Fall 6% as SK Hynix’s Weak Outlook Rattles Memory Stocks
• Negative Sentiment: Another report said WDC was down in pre-market trading as investors dumped memory-chip stocks amid sector-wide weakness and rising geopolitical tension. Why Is Western Digital Stock (WDC) Falling in Pre-Market Today, 7/13/26?
• Negative Sentiment: Market commentary also noted that global chip stocks were under pressure as investors reconsidered the sustainability of aggressive AI spending and related valuations. Intel, AMD, Sandisk, and More Stocks That Explain Today’s Market
• Neutral Sentiment: Western Digital also announced it will report fourth-quarter and fiscal 2026 results on August 5, which keeps investor attention focused on upcoming earnings but does not by itself change the near-term trading setup. WD to Announce Fourth Quarter and Fiscal Year 2026 Financial Results on August 5, 2026
• Positive Sentiment: Despite the selloff, some analysts remain constructive, citing strong demand and tight HDD supply as reasons Western Digital could still have upside if fundamentals hold. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here

Insider Buying and Selling at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the completion of the transaction, the insider owned 85,154 shares of the company’s stock, valued at approximately $47,366,060.96. The trade was a 2.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce E. Kiddoo sold 750 shares of the company’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 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. Over the last quarter, insiders sold 29,322 shares of company stock worth $12,768,550. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Susquehanna raised their price target on shares of Western Digital from $360.00 to $500.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Jefferies Financial Group set a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Wall Street Zen upgraded Western Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Bank of America boosted their target price on Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Finally, Barclays upped their price target on Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $520.32.

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.