Fifth Third Bancorp Has $19.66 Million Stock Holdings in Western Digital Corporation $WDC

Fifth Third Bancorp raised its stake in Western Digital Corporation (NASDAQ:WDC) by 257.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 72,692 shares of the data storage provider’s stock after buying an additional 52,359 shares during the period. Fifth Third Bancorp’s holdings in Western Digital were worth $19,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Global Trust Asset Management LLC bought a new stake in shares of Western Digital during the 1st quarter worth about $47,000. Avion Wealth raised its holdings in Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 113 shares during the period. Roble Belko & Company Inc bought a new position in Western Digital in the 1st quarter valued at about $50,000. Swiss RE Ltd. acquired a new stake in Western Digital during the fourth quarter worth approximately $32,000. Finally, Concord Wealth Partners acquired a new stake in Western Digital during the fourth quarter worth approximately $41,000. 92.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on WDC shares. TD Cowen upped their target price on Western Digital from $325.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Bank of America upped their price objective on Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Cantor Fitzgerald increased their price objective on Western Digital from $660.00 to $900.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Rosenblatt Securities lifted their target price on Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Mizuho boosted their target price on shares of Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $520.32.

Western Digital Stock Down 4.6%

WDC stock opened at $555.55 on Tuesday. The company has a market cap of $191.49 billion, a PE ratio of 33.17 and a beta of 2.11. The business has a 50-day simple moving average of $558.32 and a 200 day simple moving average of $376.88. Western Digital Corporation has a 52 week low of $65.24 and a 52 week high of $799.87.

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, topping analysts’ consensus estimates of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the company posted $1.36 earnings per share. The business’s revenue for the quarter was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, analysts anticipate that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, June 5th. This is a boost 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 dividend payout ratio is currently 3.58%.

More Western Digital News

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

• Negative Sentiment: WDC slid in sympathy with the memory-chip sector after SK Hynix’s steep decline reignited concerns about valuations and near-term earnings in AI-related memory stocks. Western Digital Stock Drops: Why an Aggressive SK Hynix Reversal Is Shaking Up the Chip Sector
• Negative Sentiment: The broader group also weakened after reports that SK Hynix’s weak profit forecast and post-IPO reversal triggered selling across chip and storage names, including Western Digital. Micron, SanDisk, Western Digital Fall 6% as SK Hynix’s Weak Outlook Rattles Memory Stocks
• Negative Sentiment: Another report said WDC was down in pre-market trading as investors dumped memory-chip stocks amid sector-wide weakness and rising geopolitical tension. Why Is Western Digital Stock (WDC) Falling in Pre-Market Today, 7/13/26?
• Negative Sentiment: Market commentary also noted that global chip stocks were under pressure as investors reconsidered the sustainability of aggressive AI spending and related valuations. Intel, AMD, Sandisk, and More Stocks That Explain Today’s Market
• Neutral Sentiment: Western Digital also announced it will report fourth-quarter and fiscal 2026 results on August 5, which keeps investor attention focused on upcoming earnings but does not by itself change the near-term trading setup. WD to Announce Fourth Quarter and Fiscal Year 2026 Financial Results on August 5, 2026
• Positive Sentiment: Despite the selloff, some analysts remain constructive, citing strong demand and tight HDD supply as reasons Western Digital could still have upside if fundamentals hold. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here

Insiders Place Their Bets

In other Western Digital news, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the sale, the director 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. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Cynthia L. Tregillis sold 432 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $545.60, for a total value of $235,699.20. Following the transaction, the insider directly owned 116,643 shares of the company’s stock, valued at $63,640,420.80. This trade represents a 0.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 29,322 shares of company stock worth $12,768,550. 0.18% of the stock is owned by company insiders.

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.