1,921 Shares in Western Digital Corporation $WDC Purchased by Renasant Bank

Renasant Bank acquired a new stake in Western Digital Corporation (NASDAQ:WDC) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 1,921 shares of the data storage provider’s stock, valued at approximately $873,000.

Other institutional investors have also modified their holdings of the company. New York Life Investment Management LLC raised its holdings in Western Digital by 4.8% during the 3rd quarter. New York Life Investment Management LLC now owns 53,604 shares of the data storage provider’s stock valued at $24,361,000 after buying an additional 2,432 shares during the period. Gen Wealth Partners Inc boosted its stake in Western Digital by 25,700.0% during the third quarter. Gen Wealth Partners Inc now owns 258 shares of the data storage provider’s stock worth $117,000 after buying an additional 257 shares during the period. 71 West Capital Partners boosted its stake in Western Digital by 1.4% during the third quarter. 71 West Capital Partners now owns 2,503 shares of the data storage provider’s stock worth $1,138,000 after buying an additional 35 shares during the period. Gryphon Financial Partners LLC boosted its stake in Western Digital by 15.5% during the third quarter. Gryphon Financial Partners LLC now owns 679 shares of the data storage provider’s stock worth $309,000 after buying an additional 91 shares during the period. Finally, Retirement Systems of Alabama increased its position in Western Digital by 4.4% during the third quarter. Retirement Systems of Alabama now owns 75,610 shares of the data storage provider’s stock valued at $34,362,000 after acquiring an additional 3,201 shares during the last quarter. 92.51% of the stock is owned by institutional investors.

Insider Transactions at Western Digital

In other Western Digital news, insider Cynthia Tregillis sold 807 shares of the business’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $380.00, for a total value of $306,660.00. Following the completion of the sale, the insider directly owned 108,928 shares of the company’s stock, valued at $41,392,640. The trade was a 0.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara Gubbi sold 1,795 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $459.87, for a total transaction of $825,466.65. Following the completion of the sale, the insider directly owned 80,571 shares of the company’s stock, valued at approximately $37,052,185.77. This trade represents a 2.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,436 shares of company stock valued at $2,440,664 in the last quarter. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

WDC has been the topic of several recent analyst reports. The Goldman Sachs Group set a $540.00 target price on shares of Western Digital in a research note on Friday, October 23rd. Summit Insights cut shares of Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 6th. BNP Paribas Exane upped their price target on shares of Western Digital from $660.00 to $700.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Robert W. Baird set a $900.00 price target on shares of Western Digital in a report on Friday, October 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of Western Digital from $730.00 to $450.00 and set an “overweight” rating on the stock in a research report on Friday, October 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $591.04.

Western Digital News Roundup

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

• Positive Sentiment: Western Digital shares climbed as investors bought back into the stock following the recent decline; peer storage names also rallied, suggesting a sector-wide rebound contributed. Western Digital climbs amid rebound from recent selloff
• Positive Sentiment: Coverage highlights Western Digital’s exposure to AI-driven storage demand, including cloud growth and adoption of higher-capacity hard drives, with strong growth prospects cited for fiscal 2027. This supports the longer-term bull case, though it is not a new company announcement. Western Digital and the AI storage boom
• Neutral Sentiment: A short-interest report says short interest was zero shares as of November 10, despite describing it as a significant increase. The figures appear inconsistent and do not provide clear evidence of short-covering as a catalyst.
• Negative Sentiment: Law firm Levi & Korsinsky announced an investigation into possible fiduciary-duty breaches by certain Western Digital officers and directors. The notice does not establish wrongdoing, but may add a legal and reputational overhang. Shareholder investigation announcement

Western Digital Stock Down 0.2%

WDC stock opened at $289.20 on Wednesday. Western Digital Corporation has a twelve month low of $132.43 and a twelve month high of $799.87. The firm has a market cap of $108.25 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.02 and a beta of 2.27. The business’s fifty day simple moving average is $400.13 and its two-hundred day simple moving average is $419.44.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, October 22nd. The data storage provider reported $4.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $0.53. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. Western Digital had a net margin of 69.20% and a return on equity of 55.62%. The business’s revenue was up 55.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 earnings per share. Research analysts expect that Western Digital Corporation will post 23.62 EPS for the current year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, December 4th will be issued a dividend of $0.1750 per share. This represents a $0.70 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, December 4th. This is a positive change from Western Digital’s previous quarterly dividend of $0.15. Western Digital’s dividend payout ratio (DPR) is 2.33%.

Western Digital Profile

Western Digital Corporation (NASDAQ: WDC) develops and supplies hard disk drives (HDDs) and related data-storage products. Its drives serve data centers and cloud providers, as well as businesses and consumers who need storage for computers, network-attached storage systems, surveillance and other applications. Its product brands include WD and Ultrastar. Founded in 1970, the company began as an electronics and semiconductor business before expanding into data storage. In February 2025, Western Digital completed the separation of its flash-memory business into the independently traded SanDisk Corporation, leaving Western Digital focused on HDDs.