Truist Financial Corp Acquires 29,667 Shares of Western Digital Corporation $WDC

Truist Financial Corp lifted its holdings in Western Digital Corporation (NASDAQ:WDC) by 260.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,065 shares of the data storage provider’s stock after purchasing an additional 29,667 shares during the quarter. Truist Financial Corp’s holdings in Western Digital were worth $4,930,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. ORG Partners LLC increased its stake in Western Digital by 124.5% in the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock valued at $25,000 after buying an additional 117 shares during the last quarter. Private Wealth Management Group LLC boosted its stake in shares of Western Digital by 102.5% during the 2nd quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock worth $26,000 after buying an additional 202 shares during the last quarter. Rakuten Securities Inc. grew its holdings in shares of Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 407 shares in the last quarter. NewSquare Capital LLC increased its position 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 valued at $28,000 after acquiring an additional 205 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in Western Digital by 551.4% during the third quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Trending Headlines about Western Digital

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

• Positive Sentiment: Board authorizes an additional $4 billion share repurchase, signaling management confidence and immediate capital-return support for the stock. Western Digital adds $4 billion to buyback plan as AI boosts memory chip sales
• Positive Sentiment: At Innovation Day 2026 WDC unveiled an AI-focused storage roadmap (100TB+ HDD path, capacity/performance/power gains) that addresses hyperscaler cold-storage needs and supports longer-term revenue/margin expansion. Western Digital Accelerates Storage Innovation for AI Era
• Positive Sentiment: Industry press highlights specific HDD advances (100TB roadmap, UltraSMR adoption) that improve WDC’s addressable market for AI data lakes and cloud customers — reinforces the product credibility behind the company’s growth thesis. WD Unveils Hard Drive Road Map: 100-TB-Plus Capacity, AI-Focused Innovations
• Positive Sentiment: Recent earnings beat and upbeat guidance (strong revenue and EPS vs. estimates) underpin the rally — analysts and thematic investors are treating WDC as a core play on the memory/storage supercycle tied to AI. 2 Computer Storage Device Stocks to Buy on Solid Earnings & Guidance
• Positive Sentiment: Analyst bullishness continues: Citi and other firms have raised price targets and ratings after the company update and earnings, adding institutional momentum. Benzinga (price target raise)
• Positive Sentiment: Executive/market commentary (Barron’s, others) frames the sector-wide lift — WDC’s CFO and management messaging that “all boats are rising” supports sentiment across memory and storage names. ‘All Boats Are Rising’ in Data and Memory, Says Western Digital’s CFO. Just Look at the Stocks.
• Neutral Sentiment: Macro/industry analysis (MarketBeat) argues a memory “supercycle” supports WDC, but notes wafer/supply dynamics and longer-term cycle risk — worth monitoring for potential volatility as capacity and pricing evolve. The Memory Supercycle Is Here—2 Winners From 1 Breakup

Insider Activity at Western Digital

In related news, Director Roxanne Oulman sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $154.42, for a total transaction of $277,956.00. Following the transaction, the director directly owned 3,863 shares of the company’s stock, valued at approximately $596,524.46. This trade represents a 31.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimberly Alexy sold 1,768 shares of Western Digital stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $154.00, for a total transaction of $272,272.00. Following the completion of the sale, the director owned 3,585 shares of the company’s stock, valued at $552,090. This trade represents a 33.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 6,816 shares of company stock worth $1,102,348. Corporate insiders own 0.18% of the company’s stock.

Western Digital Stock Up 7.4%

Western Digital stock opened at $290.24 on Wednesday. The company’s 50-day moving average price is $198.69 and its two-hundred day moving average price is $140.59. The company has a quick ratio of 1.19, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The stock has a market cap of $98.40 billion, a P/E ratio of 29.11, a P/E/G ratio of 0.80 and a beta of 1.80. Western Digital Corporation has a twelve month low of $28.83 and a twelve month high of $296.50.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.20. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.93 billion. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The firm’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.77 earnings per share. As a group, analysts expect that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Thursday, March 5th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, March 5th. Western Digital’s payout ratio is presently 5.02%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Morgan Stanley raised their price target on Western Digital to $306.00 and gave the company an “overweight” rating in a research note on Friday. Wells Fargo & Company boosted their target price on shares of Western Digital to $335.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price target on shares of Western Digital in a research report on Friday, January 16th. The Goldman Sachs Group set a $250.00 price target on shares of Western Digital in a research note on Tuesday. Finally, China Renaissance began coverage on shares of Western Digital in a research note on Friday, December 5th. They set a “buy” rating and a $193.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $258.71.

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.