Western Digital Corporation $WDC Stock Holdings Lifted by Allstate Corp

Allstate Corp lifted its position in Western Digital Corporation (NASDAQ:WDC) by 101.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,460 shares of the data storage provider’s stock after acquiring an additional 13,317 shares during the period. Allstate Corp’s holdings in Western Digital were worth $4,558,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Western Digital by 12.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,317 shares of the data storage provider’s stock worth $6,281,000 after acquiring an additional 5,731 shares in the last quarter. LBP AM SA purchased a new position in shares of Western Digital in the third quarter worth approximately $641,000. AustralianSuper Pty Ltd purchased a new position in Western Digital during the third quarter valued at approximately $34,244,000. Cantor Fitzgerald L. P. grew its position in Western Digital by 399.8% during the third quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider’s stock valued at $3,900,000 after purchasing an additional 25,987 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC grew its position in Western Digital by 75.4% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider’s stock valued at $1,778,000 after purchasing an additional 4,068 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on WDC shares. Rosenblatt Securities boosted their price objective on shares of Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Citigroup boosted their price objective on shares of Western Digital from $405.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 1st. UBS Group boosted their price objective on shares of Western Digital from $350.00 to $375.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Wall Street Zen raised shares of Western Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Argus set a $300.00 price objective on shares of Western Digital in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and an average price target of $406.42.

Insider Transactions at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $411.84, for a total value of $8,236,800.00. Following the completion of the sale, the chief executive officer directly owned 598,150 shares in the company, valued at approximately $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the completion of the sale, the insider owned 90,041 shares of the company’s stock, valued at $39,905,270.79. The trade was a 4.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 53,347 shares of company stock worth $17,974,293. 0.18% of the stock is owned by insiders.

Western Digital News Roundup

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

• Positive Sentiment: Western Digital is benefiting from a sector-wide rally in memory and storage stocks after Micron’s surge sparked bullish sentiment across the AI memory complex. Not Just Micron: Memory Melt-Up Pulls SanDisk Up 8%, Western Digital Up 10%
• Positive Sentiment: Articles highlight growing storage demand as more people use large language models and AI systems, supporting the idea that Western Digital’s products will be needed more in future data centers. Why Is Everyone Talking About Western Digital Stock?
• Positive Sentiment: Western Digital’s recent post-quantum cryptography rollout in its Ultrastar UltraSMR drives is being framed as a strategic move for next-generation AI infrastructure and storage security. Is Western Digital (WDC) the Best Performing Data Center Stocks So Far in 2026?
• Neutral Sentiment: Some coverage simply notes that Western Digital has been one of the stronger-performing data center/storage stocks this year, reinforcing momentum rather than introducing a new fundamental catalyst. Is Western Digital (WDC) the Best Performing Data Center Stocks So Far in 2026?
• Negative Sentiment: Recent insider selling, including roughly $18 million in shares, may temper some enthusiasm because it can signal limited near-term confidence from executives. Western Digital Insiders Sold US$18m Of Shares Suggesting Hesitancy

Western Digital Stock Up 8.3%

WDC stock opened at $524.65 on Wednesday. The company has a market capitalization of $180.84 billion, a price-to-earnings ratio of 31.32 and a beta of 2.10. Western Digital Corporation has a 12 month low of $50.62 and a 12 month high of $536.12. The firm has a 50 day moving average of $382.53 and a two-hundred day moving average of $274.09.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share 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 business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the previous year, the company earned $1.36 earnings per share. Western Digital’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, research analysts expect that Western Digital Corporation will post 9.57 EPS for the current fiscal year.

Western Digital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be paid a $0.15 dividend. The ex-dividend date is Friday, June 5th. This is a positive change from Western Digital’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital’s dividend payout ratio is presently 2.99%.

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.