Apollon Wealth Management LLC Raises Holdings in Western Digital Corporation $WDC

Apollon Wealth Management LLC grew its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 35.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 8,838 shares of the data storage provider’s stock after purchasing an additional 2,322 shares during the quarter. Apollon Wealth Management LLC’s holdings in Western Digital were worth $2,391,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rakuten Securities Inc. boosted its stake in Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 407 shares in the last quarter. Avion Wealth increased its stake in Western Digital by 163.8% during the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 113 shares in the last quarter. Swiss RE Ltd. purchased a new position in shares of Western Digital in the fourth quarter worth $32,000. BOKF NA raised its holdings in shares of Western Digital by 6,700.0% in the third quarter. BOKF NA now owns 272 shares of the data storage provider’s stock worth $33,000 after buying an additional 268 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new stake in shares of Western Digital during the third quarter worth $33,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Western Digital

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

• Positive Sentiment: Melius Research initiated coverage of Western Digital with a Buy rating and a price target implying significant upside, boosting investor confidence in the stock. Article Title
• Positive Sentiment: Analysts highlighted about 55% upside for Western Digital and noted bullish options flow, with call buying outpacing put buying, suggesting traders are positioning for further gains. Article Title
• Positive Sentiment: Western Digital has been screening as a top momentum name in AI infrastructure, helped by strong earnings trends and continued demand tied to storage needs. Article Title
• Neutral Sentiment: Recent market commentary says Western Digital remains in a strong bullish trend and is trading well above its 200-day moving average, which supports the stock technically but does not add a major new catalyst. Article Title

Insider Buying and Selling

In related news, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the transaction, the director directly owned 3,903 shares in the company, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $443.19, for a total value of $2,071,470.06. Following the completion of the transaction, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,322 shares of company stock valued at $12,768,550 in the last ninety days. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WDC shares. Zacks Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Fox Advisors lowered Western Digital from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Barclays lifted their price target on Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Wells Fargo & Company boosted their price target on Western Digital from $500.00 to $575.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Finally, Jefferies Financial Group set a $575.00 price objective on Western Digital in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $484.04.

Western Digital Price Performance

NASDAQ WDC opened at $638.72 on Wednesday. Western Digital Corporation has a 1 year low of $62.94 and a 1 year high of $799.87. The company has a market capitalization of $220.15 billion, a PE ratio of 38.13 and a beta of 2.13. The company has a fifty day moving average of $529.13 and a 200 day moving average of $352.48.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.33. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm’s revenue for the quarter was up 45.5% compared to the same quarter last year. During the same period last year, the firm earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Research analysts expect that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.1%. 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. Western Digital’s dividend payout ratio is 3.58%.

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.