Angeles Wealth Management LLC Invests $294,000 in Western Digital Corporation $WDC

Angeles Wealth Management LLC acquired a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 1,087 shares of the data storage provider’s stock, valued at approximately $294,000.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. grew its position in Western Digital by 23.0% in the first quarter. Bessemer Group Inc. now owns 15,465 shares of the data storage provider’s stock worth $4,184,000 after acquiring an additional 2,896 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Western Digital by 8.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 47,202 shares of the data storage provider’s stock worth $14,054,000 after purchasing an additional 3,810 shares during the last quarter. Independent Financial Group LLC purchased a new position in shares of Western Digital in the 1st quarter worth about $2,596,000. Prosperity Consulting Group LLC purchased a new position in shares of Western Digital in the 1st quarter worth about $272,000. Finally, Wealthfront Advisers LLC increased its position in shares of Western Digital by 37.5% during the 1st quarter. Wealthfront Advisers LLC now owns 45,852 shares of the data storage provider’s stock valued at $12,403,000 after purchasing an additional 12,506 shares during the last quarter. 92.51% of the stock is owned by institutional investors.

Western Digital News Roundup

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

• Positive Sentiment: New coverage says Western Digital is well positioned to benefit from global AI infrastructure growth, with rising demand for advanced memory and storage supporting a stronger long-term revenue outlook. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Another report highlighted Western Digital as one of two smaller AI storage names that could benefit from expanding data center demand, citing improving margins and earnings growth potential. Everyone’s Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: A separate Zacks piece argues AI data growth is accelerating HDD demand and that Western Digital’s focused strategy could help it capture hyperscale storage opportunities. AI Data Growth is Exploding: Can Western Digital Keep Up?
• Neutral Sentiment: Several market wrap-ups noted high volatility in tech and momentum stocks, which is adding noise to trading in Western Digital and other memory names. The Tech Shakeout: Market Extremes & Gavin Baker’s Bold Call
• Neutral Sentiment: Wall Street commentary also flagged Western Digital as part of a broader AI-memory trade, with analysts still generally constructive but market sentiment swinging sharply day to day. Which Storage Stock Is Best Positioned to Win the AI Memory War?
• Negative Sentiment: Multiple reports said Western Digital fell alongside SanDisk and Micron as investors took profits in semiconductor and memory stocks, reflecting sector-wide rotation rather than company-specific trouble. Nasdaq Slips as Chip Stocks Come Under Pressure
• Negative Sentiment: Western Digital also faced a post-rally pullback as traders reassessed how durable the AI-driven storage boom will be ahead of the company’s next earnings report and guidance. Why Western Digital (WDC) Stock Is Down Today

Analyst Ratings Changes

WDC has been the topic of a number of research reports. Citigroup raised their price objective on Western Digital from $685.00 to $800.00 and gave the company a “buy” rating in a report on Monday, July 13th. Rosenblatt Securities upped their target price on Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. increased their price target on shares of Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Barclays lifted their price target on shares of Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Finally, Robert W. Baird boosted 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. Two research 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 MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and a consensus price target of $520.32.

Western Digital Price Performance

Shares of WDC stock opened at $477.22 on Friday. The business has a 50-day moving average of $560.89 and a 200 day moving average of $384.59. Western Digital Corporation has a 1-year low of $66.04 and a 1-year high of $799.87. The stock has a market capitalization of $164.49 billion, a PE ratio of 28.49 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping 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 business had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the previous year, the firm earned $1.36 EPS. The business’s quarterly 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. Analysts anticipate that Western Digital Corporation will post 9.61 EPS for the current year.

Western Digital Increases Dividend

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

Insider Activity

In other Western Digital news, insider Cynthia L. Tregillis sold 432 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $545.60, for a total value of $235,699.20. Following the sale, the insider owned 116,643 shares of the company’s stock, valued at $63,640,420.80. This trade represents a 0.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the completion of the transaction, the insider owned 90,041 shares in the company, valued at $39,905,270.79. The trade was a 4.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,322 shares of company stock valued at $12,768,550 in the last three months. Corporate insiders own 0.18% of the company’s stock.

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.