Western Digital Corporation $WDC Position Boosted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,620 shares of the data storage provider’s stock after acquiring an additional 3,214 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Western Digital were worth $10,443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WDC. Rakuten Securities Inc. lifted its holdings in shares of Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after buying an additional 407 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of Western Digital by 551.4% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock valued at $29,000 after buying an additional 204 shares during the last quarter. Westfuller Advisors LLC acquired a new stake in shares of Western Digital during the 3rd quarter valued at about $30,000. Avion Wealth lifted its holdings in shares of Western Digital by 163.8% during the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after buying an additional 113 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Western Digital by 207.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the data storage provider’s stock valued at $32,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Trading Down 0.4%

WDC opened at $484.28 on Friday. The stock’s 50 day simple moving average is $373.02 and its 200-day simple moving average is $268.41. Western Digital Corporation has a 1 year low of $49.00 and a 1 year high of $525.15. The stock has a market cap of $166.92 billion, a PE ratio of 28.91 and a beta of 2.10.

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 firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The business’s revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities analysts forecast that Western Digital Corporation will post 9.57 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is a positive change 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 3.58%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WDC. Mizuho set a $470.00 price target on Western Digital in a report on Friday, May 1st. Argus set a $300.00 price target on Western Digital in a report on Tuesday, February 3rd. The Goldman Sachs Group restated a “neutral” rating and issued a $400.00 target price on shares of Western Digital in a report on Friday, May 1st. Evercore restated an “outperform” rating and issued a $500.00 target price on shares of Western Digital in a report on Friday, May 1st. Finally, UBS Group upped their price target on Western Digital from $350.00 to $375.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. One equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $395.83.

Insider Buying and Selling at Western Digital

In other Western Digital 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 value 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. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 106 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $458.87, for a total value of $48,640.22. Following the completion of the sale, the insider owned 118,443 shares in the company, valued at $54,349,939.41. This trade represents a 0.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 53,785 shares of company stock worth $18,097,954 over the last three months. Company insiders own 0.18% of the company’s stock.

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.