Flynn Zito Capital Management LLC Takes Position in Western Digital Corporation $WDC

Flynn Zito Capital Management LLC purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC) in the fourth quarter, Holdings Channel.com reports. The firm purchased 1,624 shares of the data storage provider’s stock, valued at approximately $280,000.

Other hedge funds have also recently made changes to their positions in the company. Rakuten Securities Inc. grew its position in shares of Western Digital by 4,070.0% during the 2nd 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. Cullen Frost Bankers Inc. grew its position in Western Digital by 551.4% in the third quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 204 shares in the last quarter. Westfuller Advisors LLC purchased a new position in Western Digital in the third quarter worth $30,000. Avion Wealth grew its position in Western Digital by 163.8% in 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 in the last quarter. Finally, Cornerstone Planning Group LLC grew its position in Western Digital by 207.0% in the third quarter. Cornerstone Planning Group LLC now owns 264 shares of the data storage provider’s stock worth $32,000 after acquiring an additional 178 shares in the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

More Western Digital News

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

• Positive Sentiment: Western Digital unveiled post-quantum cryptography-enabled Ultrastar UltraSMR hard drives, highlighting its push into next-generation, AI-era infrastructure security and potentially expanding enterprise demand. WD Advances Next-Generation Trusted Infrastructure with Industry’s First Post-Quantum Cryptography Hard Drives to Help Secure the Future of AI Data
• Positive Sentiment: Reports about AI storage demand suggest Western Digital and Seagate are benefiting from tighter supply and better pricing power in mass-capacity drives, which is supportive for revenue and margins. Seagate and Western Digital: AI Storage Demand Is Now Showing Up in Pricing Power
• Positive Sentiment: Broader coverage of the AI memory/storage boom is drawing investor attention to Western Digital as one of the names positioned to benefit from infrastructure spending. Memory Chip Stocks to Watch: Micron (MU), SK Hynix, and Western Digital Lead AI Boom
• Neutral Sentiment: Analyst sentiment remains constructive, with Western Digital receiving a “Moderate Buy” consensus rating, but this is a supportive backdrop rather than a fresh catalyst. Western Digital Corporation (NASDAQ:WDC) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Neutral Sentiment: Other articles on Micron and SanDisk largely reinforce the same industry theme: AI demand is improving the outlook for memory and storage suppliers, but they do not appear to be direct company-specific catalysts for Western Digital. Why Did Micron Stock Drop Today? Why Did Sandisk Stock Drop Today?

Wall Street Analysts Forecast Growth

WDC has been the subject of several research reports. Barclays upped their target price on shares of Western Digital from $405.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Sanford C. Bernstein upgraded shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 target price for the company in a research report on Tuesday, March 31st. Morgan Stanley reiterated an “overweight” rating and issued a $488.00 target price on shares of Western Digital in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their target price on shares of Western Digital from $320.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Finally, TD Cowen upped their target price on shares of Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $395.83.

Western Digital Stock Down 4.8%

Western Digital stock opened at $458.68 on Tuesday. The company has a market capitalization of $158.10 billion, a PE ratio of 27.38 and a beta of 2.10. The firm has a fifty day simple moving average of $356.14 and a two-hundred day simple moving average of $260.04. Western Digital Corporation has a twelve month low of $49.00 and a twelve month high of $525.15.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping 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 firm’s revenue for the quarter was up 45.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, equities analysts expect that Western Digital Corporation will post 9.57 earnings per share for the current fiscal year.

Western Digital Increases Dividend

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

Insiders Place Their Bets

In other Western Digital 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 completion of the sale, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 363 shares of the business’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $377.09, for a total transaction of $136,883.67. Following the completion of the sale, the insider directly owned 120,023 shares of the company’s stock, valued at $45,259,473.07. This represents a 0.30% 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. Insiders sold 53,679 shares of company stock valued at $18,049,314 over the last three months. Insiders own 0.18% of the company’s stock.

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.