Stone Wealth Partners Invests $1.01 Million in Western Digital Corporation $WDC

Stone Wealth Partners acquired a new position in Western Digital Corporation (NASDAQ:WDC) during the 4th quarter, Holdings Channel reports. The fund acquired 5,861 shares of the data storage provider’s stock, valued at approximately $1,010,000.

Several other hedge funds have also recently added to or reduced their stakes in WDC. AustralianSuper Pty Ltd purchased a new stake in shares of Western Digital in the third quarter valued at $34,244,000. Cantor Fitzgerald L. P. lifted its position in Western Digital by 399.8% during the third 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 period. NorthCrest Asset Manangement LLC lifted its position in Western Digital by 75.4% during the fourth 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 period. China Universal Asset Management Co. Ltd. acquired a new stake in Western Digital in the 4th quarter worth about $2,270,000. Finally, WESPAC Advisors LLC acquired a new stake in Western Digital in the 4th quarter worth about $793,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Western Digital

In other news, insider Vidyadhara K. Gubbi sold 4,674 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $443.19, for a total value of $2,071,470.06. Following the completion of the sale, the insider owned 90,041 shares of the company’s stock, valued at $39,905,270.79. This represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cynthia L. Tregillis sold 432 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the completion of the transaction, the insider directly owned 116,643 shares in the company, valued at approximately $63,640,420.80. This represents a 0.37% 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. In the last three months, insiders sold 29,322 shares of company stock valued at $12,768,550. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

WDC has been the subject of a number of research analyst reports. Evercore reaffirmed an “outperform” rating and set a $575.00 price objective on shares of Western Digital in a research note on Tuesday, May 26th. Weiss Ratings raised shares of Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 15th. Zacks Research upgraded shares of Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Morgan Stanley upped their price target on shares of Western Digital from $488.00 to $650.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, TD Cowen increased their price target on shares of Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and a consensus price target of $450.46.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $746.23 on Friday. The business has a 50-day moving average of $478.97 and a two-hundred day moving average of $324.21. The firm has a market capitalization of $257.21 billion, a PE ratio of 44.55 and a beta of 2.13. Western Digital Corporation has a 12 month low of $58.66 and a 12 month high of $799.87.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $3.25 billion. During the same period in the previous year, the company posted $1.36 EPS. The company’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. As a group, research analysts anticipate that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

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

Western Digital News Roundup

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

• Positive Sentiment: Western Digital is getting momentum-stock attention from analysts and traders who see AI-driven data-center growth supporting long-term demand for high-capacity storage. Seagate & Another AI Memory Momentum Stock With Big Upside
• Positive Sentiment: Shares are also benefiting from an industry-wide surge in memory stocks after reports that Apple flagged “unavoidable” memory price hikes, reinforcing pricing power across the sector. SanDisk Jumps 11%, Western Digital Rises 7% After Apple Flags “Unavoidable” Memory Price Hikes
• Positive Sentiment: Recent coverage continues to frame WDC as a strong momentum name, with articles suggesting more upside could remain after its recent run. Western Digital (WDC) Stock Could Close Out the Week with Major Gains
• Positive Sentiment: Analysts have been raising price targets and highlighting WDC’s strong profitability, which is adding to bullish sentiment. Morgan Stanley Raises Price Target on Western Digital (WDC). Here is Why
• Neutral Sentiment: Broader market rotation away from tech and into financials could create near-term volatility for technology stocks, including WDC. Financials Rose, Tech Fell Before Kevin Warsh Fed Debut

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.