Canvas Wealth Advisors LLC Purchases New Position in Western Digital Corporation $WDC

Canvas Wealth Advisors LLC purchased a new position in Western Digital Corporation (NASDAQ:WDC) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 948 shares of the data storage provider’s stock, valued at approximately $256,000.

Several other large investors also recently added to or reduced their stakes in the stock. Cantor Fitzgerald L. P. raised its holdings in Western Digital by 399.8% in the third quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider’s stock worth $3,900,000 after purchasing an additional 25,987 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in shares of Western Digital by 75.4% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider’s stock valued at $1,778,000 after buying an additional 4,068 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Western Digital in the 4th quarter worth approximately $2,270,000. WESPAC Advisors LLC purchased a new position in shares of Western Digital in the 4th quarter worth approximately $793,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Western Digital by 33.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,122,095 shares of the data storage provider’s stock worth $193,303,000 after acquiring an additional 282,156 shares in the last quarter. 92.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Western Digital

In related news, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the transaction, the director owned 3,903 shares of the company’s stock, valued at $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the transaction, the chief executive officer owned 598,150 shares of the company’s stock, valued at $246,342,096. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,322 shares of company stock valued at $12,768,550 over the last quarter. Insiders own 0.18% of the company’s stock.

Western Digital Stock Performance

Western Digital stock opened at $532.10 on Wednesday. The business’s 50-day simple moving average is $545.76 and its two-hundred day simple moving average is $365.92. The company has a market cap of $183.40 billion, a PE ratio of 31.77 and a beta of 2.11. Western Digital Corporation has a fifty-two week low of $63.67 and a fifty-two week high of $799.87.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same period last year, the business posted $1.36 earnings per share. The company’s revenue for the quarter 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. 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 was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date was Friday, June 5th. 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%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WDC. Citigroup raised their target price on shares of Western Digital from $500.00 to $685.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. upped their price target on Western Digital from $530.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Evercore reiterated an “outperform” rating and set a $575.00 price objective on shares of Western Digital in a report on Tuesday, May 26th. Wells Fargo & Company raised their price objective on Western Digital from $500.00 to $575.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Finally, Barclays boosted their target price 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 analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $493.52.

Western Digital News Roundup

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

• Positive Sentiment: Analysts remain broadly constructive on Western Digital, with recent reports highlighting a “Moderate Buy” consensus and price targets as high as $900, suggesting Wall Street still sees meaningful upside if demand stays firm. Western Digital (WDC) Gets a Hold from Goldman Sachs
• Positive Sentiment: A recent market note argued that the pullback in memory stocks may be a reset rather than a breakdown, pointing to continued tight supply, strong margins, and ongoing AI infrastructure demand that could support Western Digital’s storage business. Flash Crash or Cash? The AI Hardware Reset Investors Can’t Ignore (WDC)
• Neutral Sentiment: Western Digital has also remained a high-interest stock among retail and institutional investors, with multiple articles noting strong trading activity and continued attention on the company’s role in the AI memory cycle. Here is What to Know Beyond Why Western Digital Corporation (WDC) is a Trending Stock
• Negative Sentiment: Samsung’s record quarter sparked a broad selloff in memory and storage names, and WDC was caught in the downdraft as investors shifted from optimism to profit-taking across the sector. Western Digital (WDC) Stock Plunges 9% Following Samsung Report Sparking Memory Chip Selloff
• Negative Sentiment: Several market updates described WDC as falling alongside Micron and SanDisk in premarket trading, reinforcing concerns that the AI-memory trade is facing a short-term momentum reset. Micron, SanDisk, and Western Digital Sink 7% as Samsung Earnings Spark a Memory Selloff

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.