Canvas Wealth Advisors LLC Buys New Position in Western Digital Corporation $WDC

Canvas Wealth Advisors LLC bought a new stake in shares of Western Digital Corporation (NASDAQ:WDC) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 948 shares of the data storage provider’s stock, valued at approximately $256,000.

Several other institutional investors have also added to or reduced their stakes in WDC. GHP Investment Advisors Inc. increased its stake in shares of Western Digital by 9.2% in the 1st quarter. GHP Investment Advisors Inc. now owns 357 shares of the data storage provider’s stock worth $97,000 after purchasing an additional 30 shares in the last quarter. Alps Advisors Inc. lifted its position in Western Digital by 0.8% during the fourth quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider’s stock valued at $811,000 after purchasing an additional 37 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its position in Western Digital by 1.1% during the first quarter. Astoria Portfolio Advisors LLC. now owns 3,782 shares of the data storage provider’s stock valued at $1,023,000 after purchasing an additional 40 shares in the last quarter. Quadcap Wealth Management LLC grew its holdings in Western Digital by 2.1% during the fourth quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock valued at $346,000 after purchasing an additional 41 shares during the period. Finally, Moss Adams Wealth Advisors LLC grew its holdings in Western Digital by 2.6% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider’s stock valued at $341,000 after purchasing an additional 51 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Insider Transactions at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 598,150 shares in the company, valued at approximately $246,342,096. This represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the transaction, the director directly owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,322 shares of company stock valued at $12,768,550 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Western Digital Stock Performance

WDC opened at $532.10 on Wednesday. The stock has a market capitalization of $183.40 billion, a price-to-earnings ratio of 31.77 and a beta of 2.11. The company has a fifty day moving average of $545.76 and a 200 day moving average of $365.92. Western Digital Corporation has a fifty-two week low of $63.67 and a fifty-two week high of $799.87.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.39 by $0.33. The business had revenue of $3.34 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities research analysts forecast that Western Digital Corporation will post 9.6 earnings per share 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 given a $0.15 dividend. This is an increase from Western Digital’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Friday, June 5th. Western Digital’s dividend payout ratio (DPR) is presently 3.58%.

Western Digital News Summary

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

• Positive Sentiment: Analysts remain broadly constructive on Western Digital, with recent reports highlighting a “Moderate Buy” consensus and price targets as high as $900, suggesting Wall Street still sees meaningful upside if demand stays firm. Western Digital (WDC) Gets a Hold from Goldman Sachs
• Positive Sentiment: A recent market note argued that the pullback in memory stocks may be a reset rather than a breakdown, pointing to continued tight supply, strong margins, and ongoing AI infrastructure demand that could support Western Digital’s storage business. Flash Crash or Cash? The AI Hardware Reset Investors Can’t Ignore (WDC)
• Neutral Sentiment: Western Digital has also remained a high-interest stock among retail and institutional investors, with multiple articles noting strong trading activity and continued attention on the company’s role in the AI memory cycle. Here is What to Know Beyond Why Western Digital Corporation (WDC) is a Trending Stock
• Negative Sentiment: Samsung’s record quarter sparked a broad selloff in memory and storage names, and WDC was caught in the downdraft as investors shifted from optimism to profit-taking across the sector. Western Digital (WDC) Stock Plunges 9% Following Samsung Report Sparking Memory Chip Selloff
• Negative Sentiment: Several market updates described WDC as falling alongside Micron and SanDisk in premarket trading, reinforcing concerns that the AI-memory trade is facing a short-term momentum reset. Micron, SanDisk, and Western Digital Sink 7% as Samsung Earnings Spark a Memory Selloff

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Bank of America raised their price objective on Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Wells Fargo & Company increased their target price on shares of Western Digital from $500.00 to $575.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Robert W. Baird raised their target price on shares of Western Digital from $310.00 to $450.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. lifted their price target on shares of Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Finally, Evercore reiterated an “outperform” rating and issued a $575.00 price target on shares of Western Digital in a research report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and a consensus price target of $493.52.

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.