Signal Advisors Wealth LLC Buys New Position in Western Digital Corporation $WDC

Signal Advisors Wealth LLC acquired a new stake in Western Digital Corporation (NASDAQ:WDC) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 1,104 shares of the data storage provider’s stock, valued at approximately $299,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rakuten Securities Inc. increased its stake in 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 boosted its stake in shares of Western Digital by 163.8% during the fourth 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. acquired a new stake in shares of Western Digital during the fourth quarter worth about $32,000. BOKF NA grew its holdings in shares of Western Digital by 6,700.0% during the third quarter. BOKF NA now owns 272 shares of the data storage provider’s stock worth $33,000 after buying an additional 268 shares during the last quarter. Finally, JPL Wealth Management LLC purchased a new position in shares of Western Digital during the third quarter worth about $33,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Stock Performance

Western Digital stock opened at $675.39 on Friday. The firm has a market capitalization of $232.79 billion, a price-to-earnings ratio of 40.32 and a beta of 2.13. Western Digital Corporation has a fifty-two week low of $62.53 and a fifty-two week high of $799.87. The stock’s fifty day moving average is $513.57 and its two-hundred day moving average is $342.93.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share 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 business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the business posted $1.36 earnings per share. The business’s revenue for the quarter was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, sell-side analysts forecast that Western Digital Corporation will post 9.58 EPS for the current fiscal year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were issued a dividend of $0.15 per share. This is an increase from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 5th. This represents a $0.60 annualized dividend and a yield of 0.1%. Western Digital’s payout ratio is 3.58%.

Trending Headlines about Western Digital

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

• Positive Sentiment: Micron’s strong quarter is being treated as a read-through for the entire memory/storage group, with investors betting that AI infrastructure demand will keep Western Digital’s business environment favorable. Western Digital Stock And Seagate Get Boost From Big Micron Earnings Beat
• Positive Sentiment: Reports highlighted that AI-related memory demand is outpacing supply, which could support better pricing and margins for Western Digital if current trends continue. AI boom keeps memory chip makers in sweet spot, says expert
• Positive Sentiment: Analysts and market commentators said Micron’s results helped “justify elevated valuations” across memory names, fueling a sector-wide rally that included Western Digital. Sandisk, Western Digital, and others soar as Micron results ‘justify elevated valuations’
• Neutral Sentiment: Technical commentary noted a hammer pattern and improving earnings estimate revisions for WDC, which may be supporting bullish sentiment but is not a fundamental catalyst by itself. Here’s Why Western Digital (WDC) Is a Great ‘Buy the Bottom’ Stock Now

Analyst Ratings Changes

Several analysts have commented on WDC shares. Wells Fargo & Company upped their price objective on Western Digital from $500.00 to $575.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. TD Cowen lifted their target price on Western Digital from $325.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. boosted their target price on Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Wall Street Zen upgraded Western Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Bank of America increased their price target 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 issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Western Digital currently has a consensus rating of “Moderate Buy” and an average target price of $450.46.

Insider Buying and Selling at Western Digital

In other news, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $545.60, for a total value of $235,699.20. Following the sale, the insider directly owned 116,643 shares in the company, valued at $63,640,420.80. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the transaction, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 29,322 shares of company stock worth $12,768,550. 0.18% of the stock is currently 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.