Allstate Corp Purchases Shares of 13,143 Western Digital Corporation $WDC

Allstate Corp acquired a new position in Western Digital Corporation (NASDAQ:WDC) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 13,143 shares of the data storage provider’s stock, valued at approximately $1,578,000.

Several other large investors have also modified their holdings of the company. ORG Partners LLC raised its holdings in Western Digital by 124.5% in the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 117 shares during the period. Private Wealth Management Group LLC grew its position in shares of Western Digital by 102.5% in the second quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock valued at $26,000 after purchasing an additional 202 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of 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 during the last quarter. NewSquare Capital LLC increased its stake in shares of Western Digital by 86.9% in the second quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 205 shares during the period. Finally, Grove Bank & Trust acquired a new position in shares of Western Digital during the 3rd quarter worth about $30,000. 92.51% of the stock is owned by institutional investors.

Trending Headlines about Western Digital

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

• Positive Sentiment: Bank of America raised its WDC price target to $257 and reaffirmed a Buy rating, signaling confidence in pricing and margin upside for WDC. Bank of America resets WDC price target
• Positive Sentiment: Rosenblatt Securities raised its price target to $270 and kept a Buy rating, another institutional upgrade that adds upward pressure to consensus estimates. Rosenblatt raises WDC target
• Positive Sentiment: Analyst commentary and sector research (memory/AI storage) argue that constrained supply, firm pricing and rising margins could sustain gains for WDC and peers — reinforcing the bullish analyst actions. Why Memory Stocks Like Western Digital May Still Rally From Here, Analysts Say
• Positive Sentiment: Notable investors (including several billionaires) added WDC to portfolios in recent quarters, a signal of confidence from large allocators into AI-infrastructure plays. Billionaires Buy 2 Artificial Intelligence (AI) Stocks Up 830% and 1,180% Since 2023
• Neutral Sentiment: Western Digital announced an Innovation Day on Feb 3 (NYC + webcast) to showcase AI-focused storage products — this is a near-term catalyst where product details or roadmap guidance could move the stock. Western Digital to Host Innovation Day 2026 in New York City
• Neutral Sentiment: A recent valuation/coverage piece reviews analyst upgrades and rising earnings expectations tied to AI storage demand — useful context but not a direct catalyst beyond the upgrades themselves. Western Digital (WDC) Valuation Check As Analyst Upgrades And AI Storage Optimism Drive Earnings Expectations
• Neutral Sentiment: Consumer promotion: a temporary discount on a WD_Black Xbox expansion card surfaced — minor for enterprise-facing AI storage economics but noteworthy for retail product momentum. WD_Black 1TB Storage Expansion Card for Xbox Drops to $0.15 per GB With Its First Discount of the Year

Wall Street Analyst Weigh In

A number of analysts have issued reports on WDC shares. Mizuho set a $240.00 target price on Western Digital in a report on Friday, January 9th. Evercore ISI restated an “outperform” rating and issued a $230.00 price objective on shares of Western Digital in a research note on Friday. Zacks Research upgraded shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Barclays reissued an “overweight” rating and issued a $240.00 price target on shares of Western Digital in a report on Thursday, January 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price objective on shares of Western Digital in a report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.76.

Western Digital Stock Performance

Western Digital stock opened at $222.97 on Wednesday. The firm has a market capitalization of $76.23 billion, a P/E ratio of 32.46, a P/E/G ratio of 1.37 and a beta of 1.78. The stock has a fifty day moving average price of $177.73 and a two-hundred day moving average price of $127.05. Western Digital Corporation has a 52-week low of $28.83 and a 52-week high of $230.48. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.21 and a quick ratio of 0.94.

Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, October 30th. The data storage provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.21. Western Digital had a net margin of 21.37% and a return on equity of 30.89%. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.72 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The firm’s quarterly revenue was up 27.4% compared to the same quarter last year. Western Digital has set its Q2 2026 guidance at 1.730-2.030 EPS. As a group, analysts anticipate that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, December 4th. This is a positive change from Western Digital’s previous quarterly dividend of $0.10. This represents a $0.50 annualized dividend and a dividend yield of 0.2%. Western Digital’s dividend payout ratio (DPR) is 7.28%.

Insider Activity

In other news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $150.69, for a total value of $3,013,800.00. Following the transaction, the chief executive officer directly owned 645,467 shares of the company’s stock, valued at $97,265,422.23. The trade was a 3.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roxanne Oulman sold 1,800 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $154.42, for a total value of $277,956.00. Following the sale, the director owned 3,863 shares in the company, valued at approximately $596,524.46. This trade represents a 31.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 26,369 shares of company stock worth $4,013,785. 0.18% of the stock is currently owned by insiders.

Western Digital Company 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.