Blue Trust Inc. Has $630,000 Position in Western Digital Corporation $WDC

Blue Trust Inc. raised its holdings in Western Digital Corporation (NASDAQ:WDC) by 78.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,330 shares of the data storage provider’s stock after acquiring an additional 1,025 shares during the quarter. Blue Trust Inc.’s holdings in Western Digital were worth $630,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of WDC. Fifth Third Wealth Advisors LLC grew its holdings in Western Digital by 29.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,389 shares of the data storage provider’s stock worth $917,000 after acquiring an additional 772 shares during the period. OP Asset Management Ltd acquired a new position in shares of Western Digital in the 1st quarter valued at $9,514,000. Tranquility Partners LLC bought a new position in shares of Western Digital in the 1st quarter worth $277,000. Kercheville Advisors LLC bought a new position in shares of Western Digital in the 1st quarter worth $325,000. Finally, CENTRAL TRUST Co grew its stake in shares of Western Digital by 109.4% during the first quarter. CENTRAL TRUST Co now owns 268 shares of the data storage provider’s stock worth $72,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

More Western Digital News

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

• Positive Sentiment: Micron’s strong quarterly results reinforced the AI-driven memory shortage theme, which has lifted Western Digital along with other memory stocks. Western Digital Stock And Seagate Get Boost From Big Micron Earnings Beat
• Positive Sentiment: Analysts and commentators continue to highlight strong AI memory demand, rising estimate revisions, and favorable supply-demand dynamics for WDC. Micron’s Robust Q3 Results Raise Investor Attention on These 3 Stocks
• Neutral Sentiment: Reports of SK Hynix planning a Nasdaq listing on July 10 add more attention to the broader memory ecosystem, but the direct impact on WDC is unclear. Is the Roundhill Memory ETF (DRAM) a Buy Before July 10?
• Negative Sentiment: After the sector’s big rally, memory and semiconductor stocks are pulling back as investors take profits and worry that memory and storage costs may have gotten ahead of fundamentals. MU, SNDK, WDC: 3 Key Reasons Why Memory Stocks Are Falling Today
• Negative Sentiment: Broader tech-sector weakness is weighing on WDC alongside other chip names, adding to the selloff in the group. Semiconductor stocks retreat over worries about memory costs

Insider Buying and Selling at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the completion of the transaction, the insider owned 85,154 shares in the company, valued at approximately $47,366,060.96. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of 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 position. 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. Insiders have sold 29,322 shares of company stock valued at $12,768,550 over the last ninety days. 0.18% of the stock is currently owned by company insiders.

Western Digital Trading Down 13.2%

Shares of NASDAQ WDC opened at $586.45 on Friday. The firm has a market cap of $202.14 billion, a PE ratio of 35.01 and a beta of 2.13. Western Digital Corporation has a 1-year low of $62.65 and a 1-year high of $799.87. The company has a fifty day moving average price of $518.00 and a 200 day moving average price of $344.63.

Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (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 firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the prior year, the company earned $1.36 EPS. The company’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. Equities research analysts forecast that Western Digital Corporation will post 9.6 EPS for the current year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were paid 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 dividend payout ratio (DPR) is 3.58%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WDC. Mizuho upped their price objective on Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Evercore restated an “outperform” rating and set a $575.00 target price on shares of Western Digital in a research report on Tuesday, May 26th. Zacks Research raised Western Digital from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Weiss Ratings cut Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Finally, Sanford C. Bernstein upgraded shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price target on the stock in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $450.46.

Western Digital Company 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.