Florida Financial Advisors LLC Takes $1.70 Million Position in Western Digital Corporation $WDC

Florida Financial Advisors LLC bought a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the 4th quarter, Holdings Channel reports. The fund bought 9,853 shares of the data storage provider’s stock, valued at approximately $1,695,000.

Several other hedge funds have also recently made changes to their positions in the business. Quadcap Wealth Management LLC increased its stake in shares of Western Digital by 2.1% during the fourth quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock valued at $346,000 after buying an additional 41 shares during the period. Moss Adams Wealth Advisors LLC increased its stake in shares of Western Digital by 2.6% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider’s stock valued at $341,000 after buying an additional 51 shares during the period. Bogart Wealth LLC boosted its position in shares of Western Digital by 19.4% during the fourth quarter. Bogart Wealth LLC now owns 369 shares of the data storage provider’s stock valued at $64,000 after purchasing an additional 60 shares in the last quarter. CYBER HORNET ETFs LLC boosted its position in shares of Western Digital by 7.2% during the fourth quarter. CYBER HORNET ETFs LLC now owns 889 shares of the data storage provider’s stock valued at $153,000 after purchasing an additional 60 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in shares of Western Digital by 3.6% during the fourth quarter. Moors & Cabot Inc. now owns 2,113 shares of the data storage provider’s stock valued at $364,000 after purchasing an additional 73 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $531.21 on Monday. The company has a market cap of $183.10 billion, a P/E ratio of 31.71 and a beta of 2.13. Western Digital Corporation has a 1 year low of $51.17 and a 1 year high of $553.50. The stock’s fifty day moving average price is $396.29 and its 200-day moving average price is $281.78.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company’s quarterly revenue was up 45.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, sell-side analysts anticipate that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

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

Key Headlines Impacting Western Digital

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

• Positive Sentiment: Western Digital is benefiting from broad strength across memory and storage stocks, with investors betting that AI infrastructure demand will keep pricing and demand elevated for HDDs and SSDs. Not Just Micron: Memory Melt-Up Pulls SanDisk Up 8%, Western Digital Up 10%
• Positive Sentiment: Coverage points to continued gross margin improvement, with Q3 gross margin jumping to 50.5% and Q4 guidance calling for 51%-52%, helped by higher-capacity drives, better pricing, and cost controls. Can Western Digital Deliver Continued Gross Margin Improvement?
• Positive Sentiment: The company appointed former Nvidia executive Manuvir Das to its board, reinforcing the view that Western Digital is positioning itself more directly around AI and data-center growth opportunities. WD Appoints Manuvir Das to Board of Directors
• Positive Sentiment: Recent commentary also highlighted Western Digital as underappreciated relative to peers, with hard disk drives still seen as critical to AI storage infrastructure. Western Digital Is Making the Right Moves Amid Fierce Momentum for Memory Stocks
• Neutral Sentiment: One analyst piece argued Western Digital stacks up poorly versus peers like Micron, which could temper enthusiasm even as the broader sector remains strong. Western Digital Stacks Up Poorly To Peers Like Micron, Don’t Buy Here
• Neutral Sentiment: An insider sale by Cynthia Tregillis was disclosed, but it was small and made under a pre-arranged 10b5-1 plan, so it does not appear to be a major warning sign. SEC filing

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WDC. Mizuho set a $470.00 price target on Western Digital in a research report on Friday, May 1st. Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Rosenblatt Securities boosted their target price on Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Truist Financial set a $310.00 target price on Western Digital in a report on Tuesday, February 3rd. Finally, Bank of America boosted their target price on Western Digital to $495.00 and gave the stock a “buy” rating in a report on Monday, April 27th. One research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $413.50.

Insider Transactions at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of the company’s 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 sale, the chief executive officer owned 598,150 shares in the company, valued at approximately $246,342,096. This represents a 3.24% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 214 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $539.63, for a total value of $115,480.82. Following the completion of the sale, the insider owned 117,157 shares of the company’s stock, valued at approximately $63,221,431.91. The trade was a 0.18% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 54,405 shares of company stock worth $18,575,428 in the last three months. 0.18% of the stock is owned by insiders.

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.