Western Digital Corporation $WDC Stock Holdings Increased by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC grew its position in shares of Western Digital Corporation (NASDAQ:WDC) by 270.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,990 shares of the data storage provider’s stock after buying an additional 8,022 shares during the period. Crestwood Advisors Group LLC’s holdings in Western Digital were worth $1,893,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in WDC. Mirae Asset Global Investments Co. Ltd. lifted its stake in Western Digital by 12.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,317 shares of the data storage provider’s stock worth $6,281,000 after purchasing an additional 5,731 shares during the last quarter. LBP AM SA bought a new stake in Western Digital during the third quarter valued at $641,000. AustralianSuper Pty Ltd acquired a new stake in shares of Western Digital during the third quarter worth $34,244,000. NorthCrest Asset Manangement LLC lifted its position in shares of Western Digital by 75.4% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider’s stock worth $1,778,000 after buying an additional 4,068 shares during the last quarter. Finally, Cantor Fitzgerald L. P. lifted its position in shares of Western Digital by 399.8% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider’s stock worth $3,900,000 after buying an additional 25,987 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

More Western Digital News

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

• Positive Sentiment: Wall Street analysts remain upbeat on Western Digital, with firms lifting price targets and Zacks upgrading the stock to Strong Buy, signaling rising confidence in demand trends and earnings momentum. Zacks Research upgrade
• Positive Sentiment: Coverage is highlighting Western Digital as a beneficiary of the AI memory and data-center storage supercycle, with demand for high-capacity storage solutions expected to stay elevated. Motley Fool article
• Positive Sentiment: The company’s recent earnings beat, raised guidance, and multiple target increases from analysts continue to support the stock’s sharp year-to-date gain and keep momentum investors engaged. Yahoo Finance article
• Neutral Sentiment: Western Digital also announced progress on simplifying its structure by unwinding its remaining Sandisk stake through share swaps and future distributions, which may help investors better value WDC as a more focused storage pure play. Yahoo Finance share swap article

Analysts Set New Price Targets

A number of brokerages recently weighed in on WDC. JPMorgan Chase & Co. boosted their price objective on shares of Western Digital from $320.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Sanford C. Bernstein raised shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 target price on the stock 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. Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Bank of America raised their price target on Western Digital to $495.00 and gave the stock a “buy” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $395.83.

Insiders Place Their Bets

In related news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the sale, the chief executive officer directly owned 598,150 shares in the company, valued at $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. The sale 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 10,148 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $270.31, for a total transaction of $2,743,105.88. Following the completion of the sale, the insider directly owned 107,794 shares of the company’s stock, valued at $29,137,796.14. The trade was a 8.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 53,679 shares of company stock worth $18,049,314. 0.18% of the stock is owned by company insiders.

Western Digital Stock Up 3.5%

Western Digital stock opened at $480.09 on Friday. Western Digital Corporation has a 52-week low of $43.88 and a 52-week high of $483.87. The firm has a market capitalization of $165.48 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 0.87 and a beta of 2.10. The firm has a 50-day moving average price of $325.84 and a two-hundred day moving average price of $242.16.

Western Digital (NASDAQ:WDC) last released 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. The company had revenue of $3.34 billion for 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 business’s revenue for the quarter was up 45.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Research analysts expect that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

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

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.