Allspring Global Investments Holdings LLC Acquires 3,810 Shares of Western Digital Corporation $WDC

Allspring Global Investments Holdings LLC lifted its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 8.8% in the 1st quarter, Holdings Channel reports. The firm owned 47,202 shares of the data storage provider’s stock after acquiring an additional 3,810 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Western Digital were worth $14,054,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Rakuten Securities Inc. raised its stake in Western Digital by 4,070.0% in the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 407 shares in the last quarter. Avion Wealth grew its stake in Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after buying an additional 113 shares in the last quarter. Swiss RE Ltd. bought a new position in shares of Western Digital in the 4th quarter worth $32,000. BOKF NA increased its holdings in shares of Western Digital by 6,700.0% in the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider’s stock worth $33,000 after buying an additional 268 shares during the last quarter. Finally, JPL Wealth Management LLC purchased a new stake in shares of Western Digital during the 3rd quarter valued at $33,000. 92.51% of the stock is currently owned by institutional investors.

Trending Headlines about Western Digital

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

• Positive Sentiment: Western Digital is benefiting from a sector-wide rebound in semiconductors, with investors buying back into memory stocks after a steep pullback. Why Is Western Digital Stock Surging on Tuesday?
• Positive Sentiment: Reports that AI is driving stronger memory and storage demand are supporting the bull case for Western Digital, with analysts expecting a continued recovery in pricing and earnings power. NVIDIA Isn’t Leading AI Stocks in 2026 – These 2 Are Up Over 180%
• Positive Sentiment: Several market summaries say Western Digital is part of a broad AI trade rebound, alongside Micron and SanDisk, as investors look ahead to major tech earnings and a potential memory upgrade cycle. Chip Stocks Surge but Software Sector Feels the Pain Again
• Neutral Sentiment: Western Digital has also been mentioned in commentary about a possible 2027 hardware refresh cycle tied to AI memory growth, which could help long-term demand but is still more of a future thesis than a near-term catalyst. AAPL, HPQ, SNDK, WDC: Gene Munster Says ‘Memory Hog’ AI Will Trigger a Massive 2027 Upgrade Cycle

Insiders Place Their Bets

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the transaction, the insider owned 85,154 shares in the company, valued at $47,366,060.96. The trade was a 2.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cynthia L. Tregillis sold 432 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 116,643 shares of the company’s stock, valued at $63,640,420.80. The trade was a 0.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,959 shares of company stock valued at $12,631,666 over the last three months. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WDC. UBS Group reaffirmed a “neutral” rating and set a $560.00 price objective on shares of Western Digital in a report on Monday, July 13th. Fox Advisors cut Western Digital from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Morgan Stanley raised their price target on Western Digital from $488.00 to $650.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Citigroup lifted their price target on Western Digital from $685.00 to $800.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Mizuho upped their price objective on Western Digital from $550.00 to $685.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $520.32.

Western Digital Stock Performance

Shares of Western Digital stock opened at $548.39 on Wednesday. Western Digital Corporation has a 52-week low of $66.04 and a 52-week high of $799.87. The company’s 50 day moving average price is $561.52 and its 200-day moving average price is $390.88. The stock has a market capitalization of $189.02 billion, a price-to-earnings ratio of 32.74 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last announced 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. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter last year, the firm 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. As a group, equities research analysts forecast 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. Investors of record on Friday, June 5th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 5th. This is a boost from Western Digital’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Western Digital’s payout ratio is 3.58%.

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.