Cary Street Partners Investment Advisory LLC Invests $214,000 in Western Digital Corporation $WDC

Cary Street Partners Investment Advisory LLC purchased a new position in Western Digital Corporation (NASDAQ:WDC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,242 shares of the data storage provider’s stock, valued at approximately $214,000.

Several other hedge funds have also recently modified their holdings of WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Western Digital by 7.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock worth $1,698,000 after purchasing an additional 3,019 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Western Digital by 229.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after purchasing an additional 967 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Western Digital in the 2nd quarter worth approximately $307,000. Cresset Asset Management LLC purchased a new stake in shares of Western Digital in the 2nd quarter worth approximately $292,000. Finally, Federated Hermes Inc. lifted its position in shares of Western Digital by 55.3% in the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock worth $152,000 after purchasing an additional 845 shares during the period. Hedge funds and other institutional investors 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: Shares are benefiting from a strong sector-wide “memory melt-up,” with AI infrastructure demand supporting higher pricing power and improving earnings expectations for storage makers like Western Digital. Not Just Micron: Memory Melt-Up Pulls SanDisk Up 8%, Western Digital Up 10%
• Positive Sentiment: Evercore reportedly raised its price target on Western Digital to $575, calling the stock “underappreciated” as hard disk drives remain critical for AI data-center buildouts. Hard Disk Drives Are Critical for AI but Western Digital Stock Is Still Underappreciated Here
• Positive Sentiment: Recent coverage highlights Western Digital as a key beneficiary of the AI memory/storage supercycle, with investors searching the name more heavily after strong momentum in peers like Micron and SanDisk. Micron’s $1 Trillion Memory Melt-Up
• Neutral Sentiment: An insider sale by Cynthia L. Tregillis was disclosed, but it was small relative to her holdings and was made under a pre-arranged 10b5-1 trading plan, so it is unlikely to be a major negative signal for investors. SEC filing
• Neutral Sentiment: Another insider sale was also reported the same day, adding to activity that may look cautious, but the transactions appear routine rather than clearly bearish. SEC filing

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Susquehanna reaffirmed a “neutral” rating and issued a $285.00 price target on shares of Western Digital in a research report on Friday, February 6th. JPMorgan Chase & Co. upped their price target on shares of Western Digital from $320.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Evercore reaffirmed an “outperform” rating and issued a $575.00 price target on shares of Western Digital in a research report on Tuesday. Robert W. Baird upped their price target on shares of Western Digital from $310.00 to $450.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group set a $575.00 target price on shares of Western Digital in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and an average price target of $413.50.

Insider Activity at Western Digital

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the firm’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 transaction, the chief executive officer owned 598,150 shares of the company’s stock, valued at approximately $246,342,096. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 214 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $539.63, for a total transaction of $115,480.82. Following the completion of the transaction, the insider directly owned 117,157 shares of the company’s stock, valued at approximately $63,221,431.91. This represents a 0.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 53,655 shares of company stock valued at $18,179,038 over the last 90 days. Insiders own 0.18% of the company’s stock.

Western Digital Stock Up 1.1%

NASDAQ:WDC opened at $530.60 on Thursday. Western Digital Corporation has a 52 week low of $51.17 and a 52 week high of $546.68. The firm has a 50 day moving average of $387.41 and a 200 day moving average of $276.68. The stock has a market capitalization of $182.89 billion, a price-to-earnings ratio of 31.68 and a beta of 2.10.

Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating 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 company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. Western Digital’s revenue for the quarter was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, analysts expect that Western Digital Corporation will post 9.57 EPS for the current year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend 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 yield of 0.1%. Western Digital’s dividend payout ratio is currently 2.99%.

Western Digital 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.