Western Digital Corporation $WDC Shares Purchased by Global Retirement Partners LLC

Global Retirement Partners LLC boosted its holdings in Western Digital Corporation (NASDAQ:WDC) by 1,266.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,204 shares of the data storage provider’s stock after purchasing an additional 17,799 shares during the quarter. Global Retirement Partners LLC’s holdings in Western Digital were worth $3,308,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. boosted its holdings in shares of Western Digital by 4,070.0% in the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 407 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in shares of Western Digital by 551.4% in the third quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 204 shares during the period. Westfuller Advisors LLC acquired a new stake in shares of Western Digital in the third quarter valued at approximately $30,000. Avion Wealth boosted its holdings in shares of Western Digital by 163.8% in the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 113 shares during the period. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Western Digital by 207.0% during the third quarter. Cornerstone Planning Group LLC now owns 264 shares of the data storage provider’s stock worth $32,000 after purchasing an additional 178 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WDC has been the subject of several recent research reports. Sanford C. Bernstein raised Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price target for the company in a report on Tuesday, March 31st. TD Cowen increased their price target on Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Wells Fargo & Company increased their price target on Western Digital from $335.00 to $500.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. increased their price target on Western Digital from $320.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Finally, Cantor Fitzgerald increased their price target on Western Digital to $660.00 and gave the stock an “overweight” rating 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 given a Hold rating to the company’s stock. According to MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and a consensus price target of $395.83.

Insider Buying and Selling at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 4,674 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $443.19, for a total value of $2,071,470.06. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cynthia L. Tregillis sold 106 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $458.87, for a total transaction of $48,640.22. Following the completion of the sale, the insider directly owned 118,443 shares in the company, valued at approximately $54,349,939.41. The trade was a 0.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 53,785 shares of company stock valued at $18,097,954. 0.18% of the stock is owned by company insiders.

Western Digital Stock Performance

Western Digital stock opened at $484.28 on Friday. Western Digital Corporation has a one year low of $49.00 and a one year high of $525.15. The business has a fifty day moving average of $373.02 and a two-hundred day moving average of $268.41. The company has a market cap of $166.92 billion, a P/E ratio of 28.91 and a beta of 2.10.

Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter last year, the company earned $1.36 earnings per share. Western Digital’s quarterly revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Sell-side analysts predict that Western Digital Corporation will post 9.57 EPS for the current year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, June 5th. Western Digital’s dividend payout ratio is 2.99%.

Western Digital Company 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.