HB Wealth Management LLC Acquires 5,185 Shares of Western Digital Corporation $WDC

HB Wealth Management LLC raised its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 52.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 15,023 shares of the data storage provider’s stock after acquiring an additional 5,185 shares during the period. HB Wealth Management LLC’s holdings in Western Digital were worth $4,064,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Western Digital in the 4th quarter valued at about $788,729,000. Fred Alger Management LLC grew its holdings in shares of Western Digital by 4,923.9% during the third quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock worth $409,049,000 after purchasing an additional 3,339,225 shares in the last quarter. Soroban Capital Partners LP increased its position in shares of Western Digital by 1,926.3% in the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after purchasing an additional 2,910,062 shares during the last quarter. Polar Capital Holdings Plc bought a new position in shares of Western Digital in the third quarter worth approximately $221,800,000. Finally, National Pension Service increased its position in shares of Western Digital by 267.6% in the fourth quarter. National Pension Service now owns 1,691,659 shares of the data storage provider’s stock worth $291,422,000 after purchasing an additional 1,231,477 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.

Western Digital News Roundup

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

• Positive Sentiment: Zacks still lists Western Digital as a top momentum stock for Q3 2026, pointing to continued investor interest in the memory chip theme and potential upside if the sector rebound continues.
• Positive Sentiment: MarketBeat noted that the memory rally may still be intact despite the broader semiconductor sell-off, which could support Western Digital if demand for memory chips remains strong.
• Positive Sentiment: A review of WD Red Plus 4TB highlighted the product as a reliable NAS hard drive, reinforcing Western Digital’s reputation in storage hardware.
• Neutral Sentiment: Western Digital was mentioned alongside other decliners as semiconductor stocks fell on fears that AI-driven chip demand may be cooling, suggesting the stock is being dragged by sector sentiment more than a fresh company-specific catalyst.
• Neutral Sentiment: Analyst-focused articles cited Western Digital’s bullish Wall Street view and strong earnings surprise history, but they did not introduce new information likely to move the stock immediately.
• Neutral Sentiment: Retail promotion news from Flipkart’s GOAT Sale included WD-branded storage devices, which is supportive for brand visibility but likely not material to the stock today.
• Negative Sentiment: The steep decline in Western Digital shares followed a broader semiconductor pullback, with investors apparently rotating out of high-flying AI and chip names.
• Negative Sentiment: Articles about Sandisk’s huge post-spin-off rally and the possibility of a stock split may remind investors of competition and relative performance within the storage space, but they mainly add narrative pressure rather than direct upside for WDC.

Western Digital Price Performance

Shares of WDC opened at $539.00 on Monday. The firm has a market cap of $185.78 billion, a P/E ratio of 32.18 and a beta of 2.11. The stock has a 50 day simple moving average of $539.71 and a two-hundred day simple moving average of $360.51. Western Digital Corporation has a 1 year low of $63.67 and a 1 year high of $799.87.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business’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. On average, equities analysts anticipate that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The firm 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. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s payout ratio is 3.58%.

Insider Buying and Selling at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the transaction, the chief executive officer directly 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 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, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction dated Thursday, May 28th. The stock was 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 in the company, valued at approximately $2,062,813.56. This represents a 16.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,322 shares of company stock worth $12,768,550 in the last 90 days. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

WDC has been the subject of several research analyst reports. Mizuho lifted their target price on shares of Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Fox Advisors lowered shares of Western Digital from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Rosenblatt Securities raised 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. Robert W. Baird lifted their price objective 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. Finally, Citigroup upped their target price on shares of Western Digital from $500.00 to $685.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $493.52.

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.