890 Shares in Western Digital Corporation $WDC Acquired by Argent Advisors Inc.

Argent Advisors Inc. purchased a new stake in Western Digital Corporation (NASDAQ:WDC) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 890 shares of the data storage provider’s stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors have also bought and sold shares of WDC. Rakuten Securities Inc. grew its position in Western Digital by 4,070.0% during the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after buying an additional 407 shares in the last quarter. Avion Wealth lifted its position in shares of 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 acquiring an additional 113 shares during the period. Swiss RE Ltd. bought a new stake in shares of Western Digital during the 4th quarter valued at $32,000. BOKF NA grew its holdings in shares of Western Digital by 6,700.0% during the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider’s stock worth $33,000 after purchasing an additional 268 shares in the last quarter. Finally, JPL Wealth Management LLC acquired a new stake in shares of Western Digital during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Stock Down 6.3%

Shares of WDC stock opened at $598.37 on Thursday. Western Digital Corporation has a twelve month low of $63.01 and a twelve month high of $799.87. The company has a market cap of $206.25 billion, a P/E ratio of 35.72 and a beta of 2.10. The business has a fifty day simple moving average of $533.61 and a 200 day simple moving average of $355.37.

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

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were given a dividend of $0.15 per share. The ex-dividend date was Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is a positive change from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio is currently 3.58%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WDC. Evercore reaffirmed an “outperform” rating and issued a $575.00 price target on shares of Western Digital in a research note on Tuesday, May 26th. Weiss Ratings downgraded shares of Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. raised their target price on shares of Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Wall Street Zen upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, 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 report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $493.52.

Insider Activity at Western Digital

In other Western Digital news, Director Bruce E. Kiddoo sold 750 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total transaction of $396,390.00. Following the sale, the director owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. The trade was a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the stock in a transaction 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 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 disclosure for this sale is available in the SEC filing. Insiders sold 29,322 shares of company stock worth $12,768,550 in the last 90 days. 0.18% of the stock is currently owned by company insiders.

Western Digital News Roundup

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

• Positive Sentiment: Bank of America raised its price target on Western Digital to $732 from $610 and kept a buy rating, implying meaningful upside from current levels. Benzinga
• Positive Sentiment: Melius Research upgraded Western Digital to strong-buy, reinforcing the bullish analyst view on the stock. Zacks.com
• Positive Sentiment: An analyst fair value estimate was reset higher to $584.79 from $518.26 as models were updated for AI storage demand, HDD pricing, and Western Digital’s product roadmap. Yahoo Finance
• Neutral Sentiment: The stock’s move is also part of a broader memory-sector pullback, with Micron and SanDisk also declining as the Nasdaq weakens. 247WallSt

About Western Digital

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.