Drive Wealth Management LLC Takes $267,000 Position in Western Digital Corporation $WDC

Drive Wealth Management LLC purchased a new stake in Western Digital Corporation (NASDAQ:WDC) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,548 shares of the data storage provider’s stock, valued at approximately $267,000.

A number of other institutional investors have also modified their holdings of WDC. ORG Partners LLC boosted its holdings in shares of Western Digital by 124.5% in the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock valued at $25,000 after buying an additional 117 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in shares of 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 in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Western Digital by 551.4% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock valued at $29,000 after buying an additional 204 shares in the last quarter. Westfuller Advisors LLC bought a new stake in shares of Western Digital in the 3rd quarter valued at about $30,000. Finally, Avion Wealth boosted its holdings in shares of Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after buying an additional 113 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Cynthia L. Tregillis sold 363 shares of the business’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $377.09, for a total value of $136,883.67. Following the completion of the sale, the insider owned 120,023 shares of the company’s stock, valued at approximately $45,259,473.07. The trade was a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 598,150 shares of the company’s stock, valued at approximately $246,342,096. The trade was 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. In the last quarter, insiders sold 53,679 shares of company stock valued at $18,049,314. 0.18% of the stock is owned by corporate insiders.

Western Digital Trading Down 5.3%

Shares of NASDAQ WDC opened at $488.74 on Wednesday. Western Digital Corporation has a 12 month low of $46.68 and a 12 month high of $525.15. The company has a 50 day simple moving average of $338.48 and a two-hundred day simple moving average of $250.06. The stock has a market cap of $168.46 billion, a price-to-earnings ratio of 29.18 and a beta of 2.10.

Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business’s quarterly revenue was up 45.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Analysts forecast that Western Digital Corporation will post 9.57 EPS for the current year.

Western Digital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, June 5th. This is a boost from Western Digital’s previous quarterly dividend of $0.13. Western Digital’s payout ratio is presently 2.99%.

Western Digital News Roundup

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

• Positive Sentiment: Western Digital continues to benefit from strong AI-related demand for memory and storage, which has been a major driver of the stock’s recent rally. Why These 3 High-Flying Memory & Storage Stocks Will Rise Further
• Positive Sentiment: Recent earnings were strong, with Western Digital beating estimates on both EPS and revenue and raising its dividend, reinforcing the bullish long-term AI storage narrative. Western Digital (WDC) Stock Soars to Record Peak on Stellar Q3 Results and Dividend Boost
• Neutral Sentiment: Wall Street sentiment remains constructive, with multiple analysts issuing buy or outperform ratings and recent price targets clustering well above current levels. Bull of the Day: Western Digital (WDC)
• Negative Sentiment: The stock is seeing a broad pullback alongside the rest of the memory/storage group, suggesting investors are taking profits after an extended surge rather than reacting to new operating weakness. Western Digital falls as “memory supercycle” trade cools and investors lock in gains

Wall Street Analysts Forecast Growth

WDC has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. JPMorgan Chase & Co. lifted their target price on shares of Western Digital from $320.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Robert W. Baird lifted 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Western Digital in a research note on Friday, May 1st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $400.00 target price on shares of Western Digital in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned 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 $395.83.

Western Digital 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.