Beta Wealth Group Inc. Sells 2,000 Shares of Western Digital Corporation $WDC

Beta Wealth Group Inc. lowered its holdings in Western Digital Corporation (NASDAQ:WDC) by 71.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 800 shares of the data storage provider’s stock after selling 2,000 shares during the quarter. Beta Wealth Group Inc.’s holdings in Western Digital were worth $216,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Western Digital by 7.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock worth $1,698,000 after buying an additional 3,019 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Western Digital by 229.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after acquiring an additional 967 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Western Digital in the 2nd quarter valued at about $307,000. Cresset Asset Management LLC acquired a new stake in Western Digital in the 2nd quarter valued at about $292,000. Finally, Federated Hermes Inc. raised its stake in shares of Western Digital by 55.3% in the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock worth $152,000 after acquiring an additional 845 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Western Digital Trading Up 2.1%

Shares of NASDAQ WDC opened at $487.42 on Tuesday. The firm has a market capitalization of $168.00 billion, a PE ratio of 29.10 and a beta of 2.11. Western Digital Corporation has a 1 year low of $66.04 and a 1 year high of $799.87. The firm’s 50-day moving average is $560.32 and its 200-day moving average is $388.23.

Western Digital (NASDAQ:WDC) last issued 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. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the previous year, the company earned $1.36 EPS. Western Digital’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 anticipate that Western Digital Corporation will post 9.61 earnings per share for the current fiscal year.

Western Digital Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WDC. Citigroup upped their target price on shares of Western Digital from $685.00 to $800.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. 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 research report on Monday, May 4th. Wall Street Zen upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Evercore reaffirmed an “outperform” rating and set a $575.00 price objective on shares of Western Digital in a report on Tuesday, May 26th. Finally, Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Western Digital presently has an average rating of “Moderate Buy” and a consensus price target of $520.32.

More Western Digital News

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

• Positive Sentiment: Western Digital is benefiting from a rebound in memory stocks as investors step back in after last week’s selloff, improving sentiment across the semiconductor group. Micron Jumps 5%, SanDisk Rises 6%, Western Digital Climbs 4% as Memory Stocks Rebound With Chips
• Positive Sentiment: Morgan Stanley’s view that the memory-stock selloff created a strong entry point is encouraging dip-buying in Western Digital and other chip names. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Neutral Sentiment: Western Digital Malaysia was recognized for advancing sustainable AI infrastructure, which supports the company’s AI narrative but is unlikely to be the main stock-moving catalyst today. WD Malaysia Recognized for Advancing Sustainable AI Infrastructure

Insider Buying and Selling at Western Digital

In other news, Director Bruce E. Kiddoo sold 750 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the transaction, the director owned 3,903 shares of the company’s stock, valued at $2,062,813.56. This represents a 16.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cynthia L. Tregillis sold 432 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $545.60, for a total value of $235,699.20. Following the completion of the transaction, the insider owned 116,643 shares in the company, valued at $63,640,420.80. This represents a 0.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 28,959 shares of company stock worth $12,631,666. 0.18% of the stock is currently owned by insiders.

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.