Western Digital Corporation $WDC Shares Sold by Everhart Financial Group Inc.

Everhart Financial Group Inc. trimmed its position in Western Digital Corporation (NASDAQ:WDC) by 10.9% during the second quarter, HoldingsChannel.com reports. The firm owned 11,129 shares of the data storage provider’s stock after selling 1,359 shares during the quarter. Everhart Financial Group Inc.’s holdings in Western Digital were worth $7,109,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of WDC. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Western Digital in the fourth quarter worth $2,270,000. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Western Digital by 33.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,122,095 shares of the data storage provider’s stock valued at $193,303,000 after acquiring an additional 282,156 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Western Digital during the 4th quarter valued at $20,889,000. World Investment Advisors boosted its position in Western Digital by 145.8% during the 4th quarter. World Investment Advisors now owns 5,950 shares of the data storage provider’s stock worth $1,025,000 after purchasing an additional 3,529 shares during the period. Finally, Pictet Asset Management Holding SA boosted its position in Western Digital by 62.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 342,516 shares of the data storage provider’s stock worth $59,040,000 after purchasing an additional 131,247 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

More Western Digital News

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

• Positive Sentiment: Western Digital reported fiscal fourth-quarter revenue of approximately $3.75 billion, up about 44% year over year, and adjusted earnings of $3.56 per share—both ahead of Wall Street expectations. Growth was supported by AI-related cloud storage demand, stronger pricing, and higher-capacity hard-disk drives. Western Digital Q4 Earnings Beat as Revenue Jumps 44% on Cloud Demand
• Positive Sentiment: Management highlighted strong visibility into AI-storage demand, with some customers negotiating capacity commitments through 2031. The company also expects continued margin expansion, while analysts remain broadly constructive; recent price targets include $630 from Baird and a $575 median across 15 analysts. Western Digital Says AI Customers Are Already Negotiating Storage Deals Through 2031
• Neutral Sentiment: The selloff is part of a broader rotation within semiconductor and memory stocks. Investors have been shifting toward AI networking leaders, while comparing Western Digital’s results with stronger results from rival Seagate Technology. Western Digital Slumps Despite Q2 Beat as Analysts Highlight Peer Seagate’s Results
• Neutral Sentiment: Western Digital declared a quarterly dividend of $0.15 per share, payable September 17 to shareholders of record September 8. The dividend provides a modest shareholder return but is unlikely to drive the near-term trading reaction.
• Negative Sentiment: Investors viewed fiscal-first-quarter 2027 gross-margin guidance of 55%–56% as insufficiently strong after the stock’s dramatic advance and elevated expectations. Although the outlook implies sequential improvement, it trailed the bar set by Seagate and was interpreted as evidence that the recent margin expansion may be stabilizing. Western Digital Shares Fall as Margin Outlook Tempers Strong Q4 Results
• Negative Sentiment: Profit-taking intensified because Western Digital had already rallied sharply on the AI-storage theme. The strong earnings beat therefore failed to exceed the market’s unusually high expectations, prompting a valuation reset and technical concerns around support levels. Sandisk, Western Digital Drag on Chip Stocks as Lofty Expectations Eclipse Strong Earnings
• Negative Sentiment: Reported insider activity has been heavily tilted toward selling, with 129 sales and no purchases over the past six months. While such transactions may reflect diversification or compensation, the lack of insider buying adds to near-term investor caution.

Insider Transactions at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of Western Digital stock in a transaction dated Monday, June 1st. The stock was 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 in the company, valued at approximately $47,366,060.96. This trade represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cynthia L. Tregillis sold 808 shares of Western Digital stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total value of $427,941.04. Following the completion of the transaction, the insider owned 114,539 shares of the company’s stock, valued at approximately $60,663,290.57. The trade was a 0.70% 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. Over the last ninety days, insiders have sold 5,093 shares of company stock valued at $2,751,337. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wall Street Zen raised Western Digital from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Mizuho set a $590.00 price objective on Western Digital in a research note on Thursday. Melius Research set a $1,050.00 target price on Western Digital and gave the stock a “buy” rating in a research report on Monday, June 29th. TD Cowen increased their target price on Western Digital from $500.00 to $540.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company raised their target price on Western Digital from $575.00 to $730.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Western Digital currently has a consensus rating of “Moderate Buy” and an average target price of $534.56.

Western Digital Trading Down 3.8%

Shares of WDC stock opened at $434.30 on Friday. The firm has a fifty day simple moving average of $565.61 and a 200-day simple moving average of $417.35. The company has a market capitalization of $149.69 billion, a PE ratio of 17.94 and a beta of 2.14. Western Digital Corporation has a twelve month low of $73.14 and a twelve month high of $799.87.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Tuesday, August 4th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.25. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the firm posted $1.66 EPS. The firm’s quarterly revenue was up 43.8% on a year-over-year basis. Equities research analysts predict that Western Digital Corporation will post 18.21 EPS for the current year.

Western Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Western Digital’s payout ratio is presently 3.58%.

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.