Praxis Investment Management Inc. Purchases 4,836 Shares of Western Digital Corporation $WDC

Praxis Investment Management Inc. grew its position in shares of Western Digital Corporation (NASDAQ:WDC) by 92.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,066 shares of the data storage provider’s stock after acquiring an additional 4,836 shares during the period. Praxis Investment Management Inc.’s holdings in Western Digital were worth $1,734,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of WDC. ORG Partners LLC increased its position in shares of Western Digital by 124.5% during the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 117 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Western Digital by 4,070.0% during the 2nd 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 Western Digital by 551.4% during the 3rd 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 purchased a new stake in Western Digital during the 3rd quarter valued at about $30,000. Finally, Avion Wealth boosted its holdings in Western Digital by 163.8% during the 4th 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. 92.51% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Vidyadhara K. Gubbi sold 10,148 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $270.31, for a total value of $2,743,105.88. Following the completion of the transaction, the insider owned 107,794 shares in the company, valued at $29,137,796.14. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cynthia L. Tregillis sold 9,324 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $268.27, for a total value of $2,501,349.48. Following the completion of the transaction, the insider owned 121,682 shares of the company’s stock, valued at approximately $32,643,630.14. The trade was a 7.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 60,459 shares of company stock worth $19,883,236 in the last quarter. 0.18% of the stock is owned by company insiders.

Western Digital Stock Up 3.8%

WDC opened at $483.15 on Thursday. The stock has a market cap of $166.53 billion, a PE ratio of 28.84, a PEG ratio of 0.94 and a beta of 2.10. The business has a 50 day moving average of $321.98 and a 200-day moving average of $239.79. Western Digital Corporation has a 52 week low of $43.60 and a 52 week high of $483.87.

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. The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm’s revenue for the quarter was up 45.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities analysts anticipate that Western Digital Corporation will post 8.82 EPS for the current year.

Western Digital Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WDC shares. Robert W. Baird increased their target price on Western Digital from $310.00 to $450.00 and gave the company an “outperform” rating in a report on Monday. Sanford C. Bernstein upgraded Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 target price for the company in a report on Tuesday, March 31st. Truist Financial set a $310.00 target price on Western Digital in a report on Tuesday, February 3rd. The Goldman Sachs Group restated a “neutral” rating and set a $400.00 target price on shares of Western Digital in a report on Friday, May 1st. Finally, UBS Group increased their price objective on Western Digital from $350.00 to $375.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Nineteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and an average target price of $395.83.

Trending Headlines about Western Digital

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

• Positive Sentiment: Q3 beat and stronger guidance — Western Digital reported a meaningful EPS beat and set higher FY‑Q4 EPS guidance, reinforcing the AI/storage demand story and explaining upward momentum. Read More.
• Positive Sentiment: Analysts lifting targets — Multiple firms have raised price targets (some toward the $500 area), supporting buy-side conviction and fresh buy ratings. Read More.
• Positive Sentiment: Zacks Rank #1 inclusion — Zacks added WDC to its Strong Buy list, which can boost inflows from model‑driven investors and screens. Read More.
• Positive Sentiment: Dividend increase and valuation narrative — A 20% dividend hike and improved margins tied to AI storage have drawn both income and growth buyers. Read More.
• Positive Sentiment: Sector tailwind / positive media commentary — High‑profile bullish mentions (e.g., Jim Cramer praising storage names) and SanDisk’s breakout lift sentiment across storage peers. Read More.
• Neutral Sentiment: Equity-for-equity exchange announced — WD disclosed exchange agreements involving Sandisk and WD shares; details are largely administrative but worth monitoring for share‑count or ownership effects. Read More.
• Neutral Sentiment: Investor outreach and coverage — WDC presented at Barclays and has multiple feature pieces and screen appearances; helpful for visibility but not an immediate catalyst. Read More.
• Neutral Sentiment: Retail promotions / product pricing noise — A steep discount on a WD_Black consumer SSD is notable for retail demand but has limited bearing on enterprise/HDD AI demand driving the rally. Read More.
• Negative Sentiment: Insider selling — CEO Irving Tan sold 20,000 shares under a 10b5‑1 plan; while routine, large insider sales can be interpreted negatively by some investors. Read More.
• Negative Sentiment: Additional insider reductions — Other executives (including Vidyadhara Gubbi) reported small sales this week; cumulative executive sales are a modest offset to the bullish fundamentals. Read More.

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.