Trivest Advisors Ltd lowered its position in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) by 60.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 345,000 shares of the data storage provider’s stock after selling 530,000 shares during the quarter. Western Digital comprises approximately 6.7% of Trivest Advisors Ltd’s holdings, making the stock its 6th largest holding. Trivest Advisors Ltd owned approximately 0.10% of Western Digital worth $93,319,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Western Digital by 7.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after buying an additional 3,019 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Western Digital by 229.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after acquiring an additional 967 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Western Digital in the 2nd quarter valued at $307,000. Cresset Asset Management LLC purchased a new position in shares of Western Digital in the 2nd quarter valued at $292,000. Finally, Federated Hermes Inc. raised its stake in shares of Western Digital by 55.3% in the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after acquiring an additional 845 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on WDC. Cantor Fitzgerald upped their price target on shares of Western Digital from $660.00 to $900.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Melius Research set a $1,050.00 price objective on Western Digital and gave the company a “buy” rating in a research report on Monday, June 29th. Rosenblatt Securities boosted their price objective on Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. UBS Group reaffirmed a “neutral” rating and issued a $560.00 target price on shares of Western Digital in a research report on Monday, July 13th. Finally, 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 research note on Tuesday, March 31st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $520.32.
Western Digital Stock Performance
Shares of WDC stock opened at $477.22 on Monday. The firm has a fifty day simple moving average of $560.89 and a 200-day simple moving average of $386.04. The company has a market capitalization of $164.49 billion, a PE ratio of 28.49 and a beta of 2.11. Western Digital Corporation has a twelve month low of $66.04 and a twelve month high of $799.87.
Western Digital (NASDAQ:WDC – Get Free Report) last released its quarterly earnings results 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 net margin of 55.29% and a return on equity of 42.95%. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The firm’s quarterly revenue was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities research analysts predict that Western Digital Corporation will post 9.61 EPS for the current year.
Western Digital Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders 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 is a positive change from Western Digital’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital’s dividend payout ratio is presently 3.58%.
Western Digital News Summary
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: New coverage says Western Digital is well positioned to benefit from global AI infrastructure growth, with rising demand for advanced memory and storage supporting a stronger long-term revenue outlook. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
- Positive Sentiment: Another report highlighted Western Digital as one of two smaller AI storage names that could benefit from expanding data center demand, citing improving margins and earnings growth potential. Everyone’s Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
- Positive Sentiment: A separate Zacks piece argues AI data growth is accelerating HDD demand and that Western Digital’s focused strategy could help it capture hyperscale storage opportunities. AI Data Growth is Exploding: Can Western Digital Keep Up?
- Neutral Sentiment: Several market wrap-ups noted high volatility in tech and momentum stocks, which is adding noise to trading in Western Digital and other memory names. The Tech Shakeout: Market Extremes & Gavin Baker’s Bold Call
- Neutral Sentiment: Wall Street commentary also flagged Western Digital as part of a broader AI-memory trade, with analysts still generally constructive but market sentiment swinging sharply day to day. Which Storage Stock Is Best Positioned to Win the AI Memory War?
- Negative Sentiment: Multiple reports said Western Digital fell alongside SanDisk and Micron as investors took profits in semiconductor and memory stocks, reflecting sector-wide rotation rather than company-specific trouble. Nasdaq Slips as Chip Stocks Come Under Pressure
- Negative Sentiment: Western Digital also faced a post-rally pullback as traders reassessed how durable the AI-driven storage boom will be ahead of the company’s next earnings report and guidance. Why Western Digital (WDC) Stock Is Down Today
Insiders Place Their Bets
In related news, insider Cynthia L. Tregillis sold 432 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $545.60, for a total value of $235,699.20. Following the transaction, the insider owned 116,643 shares in the company, valued at approximately $63,640,420.80. The trade was a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the completion of the transaction, the insider directly owned 85,154 shares of the company’s stock, valued at $47,366,060.96. This represents a 2.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,322 shares of company stock valued at $12,768,550 in the last three months. 0.18% of the stock is owned by insiders.
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.
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