1,992 Western Digital Corporation $WDC Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 3.2% in the third quarter, Holdings Channel.com reports. The firm owned 60,264 shares of the data storage provider’s stock after selling 1,992 shares during the period. Fifth Third Bancorp’s holdings in Western Digital were worth $27,388,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc bought a new stake in shares of Western Digital during the second quarter valued at approximately $1,602,927,000. ABS Investment Management LLC purchased a new stake in Western Digital during the second quarter valued at approximately $1,226,342,000. Anther Capital Ltd purchased a new position in shares of Western Digital during the 2nd quarter worth $901,601,000. Deutsche Bank AG bought a new stake in Western Digital during the second quarter valued at about $885,565,000. Finally, Trivest Advisors Ltd purchased a new stake in Western Digital in the 2nd quarter worth approximately $627,606,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Stock Performance

Western Digital stock opened at $295.65 on Friday. Western Digital Corporation has a one year low of $132.43 and a one year high of $799.87. The stock has a market cap of $110.67 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.10 and a beta of 2.27. The stock has a 50-day moving average of $391.72 and a two-hundred day moving average of $420.40.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Thursday, October 22nd. The data storage provider reported $4.64 EPS for the quarter, beating the consensus estimate of $4.11 by $0.53. Western Digital had a net margin of 69.20% and a return on equity of 55.62%. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the firm posted $1.78 EPS. Western Digital’s revenue was up 55.5% on a year-over-year basis. As a group, sell-side analysts predict that Western Digital Corporation will post 23.62 EPS for the current fiscal year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, December 4th will be issued a $0.1750 dividend. This is a boost from Western Digital’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, December 4th. This represents a $0.70 annualized dividend and a yield of 0.2%. Western Digital’s dividend payout ratio is currently 2.33%.

Insider Buying and Selling at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 1,795 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $459.87, for a total transaction of $825,466.65. Following the sale, the insider directly owned 80,571 shares of the company’s stock, valued at approximately $37,052,185.77. This represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Cynthia L. Tregillis sold 1,007 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $478.36, for a total value of $481,708.52. Following the transaction, the insider owned 112,155 shares in the company, valued at $53,650,465.80. This trade represents a 0.89% 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 three months, insiders have sold 5,436 shares of company stock valued at $2,440,664. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WDC. Susquehanna set a $405.00 target price on Western Digital in a research report on Friday, October 23rd. Morgan Stanley set a $668.00 target price on Western Digital and gave the stock an “overweight” rating in a report on Friday, October 23rd. BNP Paribas Exane raised their price objective on shares of Western Digital from $660.00 to $700.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. UBS Group reissued a “buy” rating and issued a $625.00 price objective on shares of Western Digital in a research report on Friday, October 23rd. Finally, Argus decreased their price objective on Western Digital from $600.00 to $500.00 and set a “buy” rating for the company in a report on Monday, October 26th. Two research 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 data from MarketBeat.com, Western Digital currently has a consensus rating of “Moderate Buy” and a consensus target price of $591.04.

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.