6,567 Shares in Western Digital Corporation $WDC Bought by Wealthstar Advisors LLC

Wealthstar Advisors LLC purchased a new position in Western Digital Corporation (NASDAQ:WDC) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,567 shares of the data storage provider’s stock, valued at approximately $1,776,000. Western Digital accounts for approximately 0.8% of Wealthstar Advisors LLC’s investment portfolio, making the stock its 24th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. raised its holdings in shares of Western Digital by 7.6% during the first quarter. QRG Capital Management Inc. now owns 65,785 shares of the data storage provider’s stock valued at $17,794,000 after purchasing an additional 4,647 shares during the period. HB Wealth Management LLC grew its stake in shares of Western Digital by 52.7% in the 1st quarter. HB Wealth Management LLC now owns 15,023 shares of the data storage provider’s stock valued at $4,064,000 after buying an additional 5,185 shares during the period. Moran Wealth Management LLC acquired a new stake in shares of Western Digital in the 1st quarter valued at about $273,000. PFG Investments LLC grew its stake in shares of Western Digital by 22.3% in the 1st quarter. PFG Investments LLC now owns 1,593 shares of the data storage provider’s stock valued at $431,000 after buying an additional 290 shares during the period. Finally, World Investment Advisors increased its position in Western Digital by 156.8% in the 1st quarter. World Investment Advisors now owns 15,280 shares of the data storage provider’s stock valued at $4,133,000 after buying an additional 9,330 shares in the last quarter. 92.51% of the stock is owned by institutional investors.

Western Digital Price Performance

Shares of Western Digital stock opened at $539.00 on Friday. The company has a market cap of $185.78 billion, a PE ratio of 32.18 and a beta of 2.11. Western Digital Corporation has a 52 week low of $63.67 and a 52 week high of $799.87. The business has a 50 day moving average price of $539.71 and a 200-day moving average price of $359.19.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the previous year, the firm earned $1.36 earnings per share. Western Digital’s quarterly 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, research analysts anticipate that Western Digital Corporation will post 9.6 EPS for the current year.

Western Digital Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Bank of America upped their price target on Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a research note on Wednesday. Wall Street Zen upgraded Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Robert W. Baird upped their target price on Western Digital from $310.00 to $450.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Finally, Barclays increased their target price on Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $493.52.

Insider Activity

In other news, Director Bruce E. Kiddoo sold 750 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director owned 3,903 shares in the company, valued at $2,062,813.56. This represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the transaction, the insider directly owned 90,041 shares in the company, valued at $39,905,270.79. The trade was a 4.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 29,322 shares of company stock valued at $12,768,550 over the last quarter. 0.18% of the stock is owned by insiders.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Zacks still lists Western Digital as a top momentum stock for Q3 2026, pointing to continued investor interest in the memory chip theme and potential upside if the sector rebound continues.
• Positive Sentiment: MarketBeat noted that the memory rally may still be intact despite the broader semiconductor sell-off, which could support Western Digital if demand for memory chips remains strong.
• Positive Sentiment: A review of WD Red Plus 4TB highlighted the product as a reliable NAS hard drive, reinforcing Western Digital’s reputation in storage hardware.
• Neutral Sentiment: Western Digital was mentioned alongside other decliners as semiconductor stocks fell on fears that AI-driven chip demand may be cooling, suggesting the stock is being dragged by sector sentiment more than a fresh company-specific catalyst.
• Neutral Sentiment: Analyst-focused articles cited Western Digital’s bullish Wall Street view and strong earnings surprise history, but they did not introduce new information likely to move the stock immediately.
• Neutral Sentiment: Retail promotion news from Flipkart’s GOAT Sale included WD-branded storage devices, which is supportive for brand visibility but likely not material to the stock today.
• Negative Sentiment: The steep decline in Western Digital shares followed a broader semiconductor pullback, with investors apparently rotating out of high-flying AI and chip names.
• Negative Sentiment: Articles about Sandisk’s huge post-spin-off rally and the possibility of a stock split may remind investors of competition and relative performance within the storage space, but they mainly add narrative pressure rather than direct upside for WDC.

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.