ABN AMRO Bank N.V. Invests $418,000 in Western Digital Corporation $WDC

ABN AMRO Bank N.V. purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the first quarter, Holdings Channel reports. The institutional investor purchased 1,538 shares of the data storage provider’s stock, valued at approximately $418,000.

Other large investors have also recently bought and sold shares of the company. First United Bank & Trust purchased a new stake in Western Digital in the 1st quarter worth about $103,000. GHP Investment Advisors Inc. boosted its position in Western Digital by 9.2% during the 1st quarter. GHP Investment Advisors Inc. now owns 357 shares of the data storage provider’s stock worth $97,000 after acquiring an additional 30 shares during the period. SmartHarvest Portfolios LLC acquired a new position in Western Digital in the 1st quarter valued at approximately $239,000. Falcon Wealth Planning boosted its position in Western Digital by 2.6% during the first quarter. Falcon Wealth Planning now owns 2,170 shares of the data storage provider’s stock valued at $587,000 after purchasing an additional 54 shares during the last quarter. Finally, Aaron Wealth Advisors LLC grew its stake in Western Digital by 7.9% in the first quarter. Aaron Wealth Advisors LLC now owns 4,179 shares of the data storage provider’s stock valued at $1,130,000 after purchasing an additional 306 shares in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Western Digital

In other news, insider Vidyadhara K. Gubbi sold 4,674 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 90,041 shares in the company, valued at approximately $39,905,270.79. The trade was a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce E. Kiddoo sold 750 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the transaction, the director owned 3,903 shares of the company’s stock, valued at $2,062,813.56. The trade was a 16.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 29,322 shares of company stock worth $12,768,550. Insiders own 0.18% of the company’s stock.

Western Digital Stock Performance

NASDAQ WDC opened at $586.45 on Monday. The stock has a 50-day simple moving average of $518.00 and a 200 day simple moving average of $345.86. Western Digital Corporation has a twelve month low of $62.65 and a twelve month high of $799.87. The stock has a market capitalization of $202.14 billion, a PE ratio of 35.01 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter last year, the firm posted $1.36 EPS. The company’s revenue was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, equities research analysts forecast that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were issued a $0.15 dividend. This is a positive change from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.60 annualized dividend and a yield of 0.1%. Western Digital’s payout ratio is currently 3.58%.

More Western Digital News

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

• Positive Sentiment: Micron’s strong quarterly results reinforced the AI-driven memory shortage theme, which has lifted Western Digital along with other memory stocks. Western Digital Stock And Seagate Get Boost From Big Micron Earnings Beat
• Positive Sentiment: Analysts and commentators continue to highlight strong AI memory demand, rising estimate revisions, and favorable supply-demand dynamics for WDC. Micron’s Robust Q3 Results Raise Investor Attention on These 3 Stocks
• Neutral Sentiment: Reports of SK Hynix planning a Nasdaq listing on July 10 add more attention to the broader memory ecosystem, but the direct impact on WDC is unclear. Is the Roundhill Memory ETF (DRAM) a Buy Before July 10?
• Negative Sentiment: After the sector’s big rally, memory and semiconductor stocks are pulling back as investors take profits and worry that memory and storage costs may have gotten ahead of fundamentals. MU, SNDK, WDC: 3 Key Reasons Why Memory Stocks Are Falling Today
• Negative Sentiment: Broader tech-sector weakness is weighing on WDC alongside other chip names, adding to the selloff in the group. Semiconductor stocks retreat over worries about memory costs

Analyst Ratings Changes

Several brokerages recently weighed in on WDC. Zacks Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Robert W. Baird boosted their target price 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. Wells Fargo & Company raised their price target on shares of Western Digital from $500.00 to $575.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Barclays lifted their price objective on shares of Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Finally, Mizuho increased their price objective on Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $450.46.

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.