Praxis Investment Management Inc. Grows Stock Holdings in Western Digital Corporation $WDC

Praxis Investment Management Inc. increased its position in shares of Western Digital Corporation (NASDAQ:WDC) by 16.4% in the first quarter, HoldingsChannel.com reports. The firm owned 11,716 shares of the data storage provider’s stock after acquiring an additional 1,650 shares during the quarter. Praxis Investment Management Inc.’s holdings in Western Digital were worth $3,169,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WDC. 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 buying an additional 407 shares in the last quarter. Avion Wealth boosted its position in shares of Western Digital by 163.8% during the 4th 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. Swiss RE Ltd. acquired a new position in shares of Western Digital during the 4th quarter worth about $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 valued at $33,000 after acquiring an additional 268 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new stake in shares of Western Digital during the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other Western Digital news, CEO Irving Tan sold 20,000 shares of Western Digital 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 transaction, the chief executive officer directly owned 598,150 shares in the company, valued at approximately $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 can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 432 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the completion of the sale, 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 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. Company insiders own 0.18% of the company’s stock.

Western Digital Price Performance

WDC opened at $539.00 on Friday. The firm has a market cap of $185.78 billion, a price-to-earnings 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’s 50 day moving average is $539.71 and its two-hundred day moving average is $359.19.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm’s revenue for the quarter was up 45.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities analysts expect that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

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

Western Digital News Summary

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.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WDC. Wells Fargo & Company boosted their target price on Western Digital from $500.00 to $575.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Robert W. Baird raised their price objective on shares of Western Digital from $310.00 to $450.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Bank of America raised their price objective on shares of Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup upped their target price on shares of Western Digital from $500.00 to $685.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $493.52.

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.