Commonwealth Financial Services LLC Makes New $315,000 Investment in Western Digital Corporation $WDC

Commonwealth Financial Services LLC acquired a new stake in Western Digital Corporation (NASDAQ:WDC) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,166 shares of the data storage provider’s stock, valued at approximately $315,000.

Other large investors also recently modified their holdings of the company. Rakuten Securities Inc. grew its stake in Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after buying an additional 407 shares during the last quarter. Avion Wealth boosted its holdings in shares of Western Digital by 163.8% during the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 113 shares during the period. Valley Wealth Managers Inc. bought a new stake in shares of Western Digital during the first quarter worth approximately $32,000. Swiss RE Ltd. acquired a new position in shares of Western Digital in the fourth quarter valued at approximately $32,000. Finally, BOKF NA grew its position in shares of Western Digital by 6,700.0% in the third quarter. BOKF NA now owns 272 shares of the data storage provider’s stock valued at $33,000 after purchasing an additional 268 shares during the last quarter. 92.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein upgraded Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 target price on the stock in a research note on Tuesday, March 31st. Jefferies Financial Group set a $575.00 price target on Western Digital in a research note on Tuesday, May 26th. Wells Fargo & Company upped their price objective on Western Digital from $575.00 to $730.00 and gave the company an “overweight” rating in a report on Friday, July 10th. TD Cowen increased their price objective on Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Mizuho lifted their target price on Western Digital from $550.00 to $685.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Two investment 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $520.32.

More Western Digital News

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

Western Digital Stock Performance

NASDAQ WDC opened at $477.22 on Monday. The company has a market cap of $164.49 billion, a price-to-earnings ratio of 28.49 and a beta of 2.11. The company has a 50 day moving average of $560.89 and a 200-day moving average of $386.04. Western Digital Corporation has a 1-year low of $66.04 and a 1-year high of $799.87.

Western Digital (NASDAQ:WDC) last issued its quarterly 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. The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 earnings per share. 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 9.61 earnings per share for the current year.

Western Digital Increases Dividend

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

Insider Buying and Selling at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $411.84, for a total value of $8,236,800.00. Following the sale, the chief executive officer owned 598,150 shares of the company’s stock, valued at $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 432 shares of the 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 completion of the sale, the insider owned 116,643 shares of the company’s stock, valued at $63,640,420.80. The trade was 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 sold 29,322 shares of company stock valued at $12,768,550. 0.18% of the stock is 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.