Western Digital Corporation $WDC Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 102,657 shares of the data storage provider’s stock after selling 1,000 shares during the quarter. State of Michigan Retirement System’s holdings in Western Digital were worth $27,768,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rakuten Securities Inc. boosted its stake 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 purchasing an additional 407 shares during the period. Avion Wealth increased its stake in Western Digital by 163.8% during the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after buying an additional 113 shares during the period. Swiss RE Ltd. purchased a new stake in Western Digital during the 4th quarter worth $32,000. BOKF NA lifted its holdings in Western Digital by 6,700.0% in the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider’s stock worth $33,000 after buying an additional 268 shares in the last quarter. Finally, JPL Wealth Management LLC acquired a new position in Western Digital in the 3rd quarter worth $33,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Stock Performance

NASDAQ:WDC opened at $563.32 on Wednesday. The company has a market capitalization of $194.17 billion, a price-to-earnings ratio of 33.63 and a beta of 2.11. Western Digital Corporation has a one year low of $65.79 and a one year high of $799.87. The stock has a 50-day simple moving average of $560.28 and a 200 day simple moving average of $379.58.

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, beating 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 for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the prior year, the firm posted $1.36 earnings per share. Western Digital’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. On average, equities research analysts forecast that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

The company 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. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio is currently 3.58%.

Insider Transactions at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the transaction, the insider directly owned 85,154 shares in the company, valued at $47,366,060.96. This trade represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction on Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the transaction, the chief executive officer directly owned 598,150 shares of the company’s stock, valued at approximately $246,342,096. This represents a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 29,322 shares of company stock valued at $12,768,550. 0.18% of the stock is currently owned by insiders.

Western Digital News Summary

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

• Positive Sentiment: Western Digital is benefiting from a rebound in memory and storage stocks after Monday’s sector-wide drop tied to SK Hynix volatility and broader chip-market pressure. SK Hynix ADR Soars 19% as Leveraged ETFs Launch, Lifting Micron, SanDisk, Western Digital
• Positive Sentiment: Several recent analyst notes are bullish on WDC, with commentary citing strong demand, improving pricing, and the possibility of meaningful upside from current levels. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here
• Positive Sentiment: Western Digital’s upcoming earnings report is in focus, and Wall Street is expecting a strong year-over-year profit jump, which could support the stock if results and guidance beat expectations. Western Digital’s Quarterly Earnings Preview: What You Need to Know
• Neutral Sentiment: The company has confirmed it will report fourth-quarter and fiscal 2026 results on August 5, keeping earnings-related speculation elevated in the near term. WD to Announce Fourth Quarter and Fiscal Year 2026 Financial Results on August 5, 2026
• Negative Sentiment: WDC remains sensitive to swings in the AI-memory trade, and the stock was recently hit by a sharp sector pullback sparked by SK Hynix’s weak outlook and broader chip-market jitters. SK Hynix’s record plunge drags down global chip stocks

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on WDC shares. The Goldman Sachs Group restated a “neutral” rating and set a $400.00 target price on shares of Western Digital in a research note on Friday, May 1st. Rosenblatt Securities boosted their price target on Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Morgan Stanley increased their price target on Western Digital from $488.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Barclays raised their price objective on Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Finally, Bank of America upped 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. Two 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $520.32.

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.