Wick Capital Partners LLC Takes Position in Western Digital Corporation $WDC

Wick Capital Partners LLC acquired a new position in shares of Western Digital Corporation (NASDAQ:WDC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,996 shares of the data storage provider’s stock, valued at approximately $344,000.

Several other institutional investors also recently modified their holdings of the stock. Rakuten Securities Inc. raised its stake in Western Digital by 4,070.0% in the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 407 shares in the last quarter. Avion Wealth grew its stake in Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after buying an additional 113 shares in the last quarter. Swiss RE Ltd. bought a new position in shares of Western Digital in the 4th quarter worth $32,000. BOKF NA increased its holdings in shares of Western Digital by 6,700.0% in the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider’s stock worth $33,000 after buying an additional 268 shares during the last quarter. Finally, JPL Wealth Management LLC purchased a new stake in shares of Western Digital during the 3rd quarter valued at $33,000. 92.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WDC has been the subject of several research reports. UBS Group upped their target price on shares of Western Digital from $350.00 to $375.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. TD Cowen raised their price target on Western Digital from $325.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Citigroup upped their price objective on Western Digital from $500.00 to $685.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Rosenblatt Securities increased their price objective on Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Wells Fargo & Company boosted their target price on Western Digital from $500.00 to $575.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $450.46.

Insider Buying and Selling

In other Western Digital news, insider Vidyadhara K. Gubbi sold 4,674 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was 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 in the company, valued at approximately $39,905,270.79. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce E. Kiddoo sold 750 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the sale, the director directly owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,322 shares of company stock valued at $12,768,550 over the last quarter. Company insiders own 0.18% of the company’s stock.

Western Digital Price Performance

NASDAQ WDC opened at $746.23 on Friday. The company has a 50-day simple moving average of $487.12 and a two-hundred day simple moving average of $327.17. Western Digital Corporation has a 12-month low of $58.66 and a 12-month high of $799.87. The firm has a market cap of $257.21 billion, a price-to-earnings ratio of 44.55 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) 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 last year, the firm earned $1.36 earnings per share. The company’s revenue for the quarter 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 expect that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were paid a $0.15 dividend. This is an increase from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Western Digital’s payout ratio is presently 3.58%.

Trending Headlines about Western Digital

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

• Positive Sentiment: Western Digital is benefiting from surging demand tied to AI data centers and cloud storage, which is boosting investor confidence in the company’s earnings outlook. Western Digital stock surges on AI demand; Morgan Stanley bullish on WDC
• Positive Sentiment: Morgan Stanley raised its view on WDC, reinforcing the idea that the stock still has room to run after the recent rally. Morgan Stanley Raises Price Target on Western Digital (WDC). Here is Why
• Positive Sentiment: The company’s earnings were said to nearly double on strong AI and cloud demand, which supports the recent move up in the shares. Western Digital Earnings Nearly Double on AI, Cloud Demand
• Positive Sentiment: Apple’s comments about unavoidable memory price hikes helped lift the broader memory/storage group, including WDC, by improving the pricing backdrop for the industry. SanDisk Jumps 11%, Western Digital Rises 7% After Apple Flags “Unavoidable” Memory Price Hikes

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.