Icon Wealth Advisors LLC Purchases New Shares in Western Digital Corporation $WDC

Icon Wealth Advisors LLC acquired a new stake in Western Digital Corporation (NASDAQ:WDC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,264 shares of the data storage provider’s stock, valued at approximately $218,000.

Several other hedge funds also recently bought and sold shares of the business. Alps Advisors Inc. grew its position in Western Digital by 0.8% in the 4th quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider’s stock valued at $811,000 after acquiring an additional 37 shares during the last quarter. Quadcap Wealth Management LLC grew its position in Western Digital by 2.1% in the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock valued at $346,000 after acquiring an additional 41 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its position in Western Digital by 2.6% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider’s stock valued at $341,000 after acquiring an additional 51 shares during the last quarter. Bogart Wealth LLC grew its position in Western Digital by 19.4% in the 4th quarter. Bogart Wealth LLC now owns 369 shares of the data storage provider’s stock valued at $64,000 after acquiring an additional 60 shares during the last quarter. Finally, CYBER HORNET ETFs LLC grew its position in Western Digital by 7.2% in the 4th quarter. CYBER HORNET ETFs LLC now owns 889 shares of the data storage provider’s stock valued at $153,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Trending Headlines about Western Digital

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

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and lifted its price target to $650, while other firms also turned constructive on Western Digital and the broader hard-drive/storage group. What’s Going On With The Jump In Western Digital Stock?
• Positive Sentiment: Investors are re-rating WDC on expectations that AI and cloud data-center buildouts will keep HDD and storage demand tight, supporting pricing power and margin expansion. Why Western Digital’s stock was the S&P 500’s biggest gainer on Monday
• Positive Sentiment: Recent earnings were stronger than expected, with revenue and EPS beating estimates and management guiding to continued profitability, reinforcing confidence in the turnaround story. Western Digital Corporation Will Hit $600 on This Date
• Neutral Sentiment: Broader market sentiment was also upbeat, with risk appetite improving across AI, chip, and memory stocks, adding a sector tailwind to the move in WDC.

Western Digital Price Performance

Shares of NASDAQ WDC opened at $653.53 on Tuesday. The stock has a market capitalization of $225.26 billion, a P/E ratio of 39.02 and a beta of 2.13. Western Digital Corporation has a 1-year low of $56.26 and a 1-year high of $658.80. The business has a fifty day moving average price of $454.40 and a 200 day moving average price of $312.52.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.33. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm’s quarterly revenue was up 45.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 EPS. 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 will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be paid a dividend of $0.15 per share. This is an increase from Western Digital’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital’s dividend payout ratio (DPR) is currently 3.58%.

Insider Buying and Selling

In related news, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 598,150 shares in the company, valued at $246,342,096. This represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $556.24, for a total value of $1,376,694.00. Following the sale, the insider owned 85,154 shares of the company’s stock, valued at $47,366,060.96. This trade represents a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 29,322 shares of company stock valued at $12,768,550. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on WDC. Bank of America upped their price objective on Western Digital to $495.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Jefferies Financial Group set a $575.00 price objective on Western Digital in a research report on Tuesday, May 26th. Barclays upped their price objective on Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Mizuho increased their price target on Western Digital from $550.00 to $685.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Finally, Wells Fargo & Company increased their price target on Western Digital from $500.00 to $575.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and a consensus target price of $450.46.

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.