Spartan Wealth Advisory Services LLC Invests $34.64 Million in Western Digital Corporation $WDC

Spartan Wealth Advisory Services LLC acquired a new stake in Western Digital Corporation (NASDAQ:WDC) in the 1st quarter, Holdings Channel reports. The fund acquired 128,061 shares of the data storage provider’s stock, valued at approximately $34,639,000. Western Digital comprises approximately 3.0% of Spartan Wealth Advisory Services LLC’s portfolio, making the stock its 8th largest holding.

A number of other hedge funds have also made changes to their positions in WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Western Digital by 7.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock worth $1,698,000 after purchasing an additional 3,019 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Western Digital by 229.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after purchasing an additional 967 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Western Digital in the 2nd quarter worth $307,000. Cresset Asset Management LLC bought a new stake in shares of Western Digital in the 2nd quarter worth $292,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Western Digital by 55.3% in the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after buying an additional 845 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Buying and Selling

In other news, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the transaction, the director directly owned 3,903 shares of the company’s stock, valued at $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the sale, the chief executive officer owned 598,150 shares in the company, valued at $246,342,096. This represents a 3.24% 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 have sold a total of 29,322 shares of company stock worth $12,768,550 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Western Digital Stock Up 2.2%

Shares of NASDAQ WDC opened at $477.22 on Friday. The stock has a market capitalization of $164.49 billion, a price-to-earnings ratio of 28.49 and a beta of 2.11. The stock’s fifty day simple moving average is $560.89 and its 200 day simple moving average is $384.59. Western Digital Corporation has a 52-week low of $66.04 and a 52-week high of $799.87.

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, topping analysts’ consensus estimates 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 analyst estimates of $3.25 billion. During the same period in the previous year, the firm earned $1.36 earnings per share. Western Digital’s revenue for the quarter was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, analysts anticipate that Western Digital Corporation will post 9.61 earnings per share 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 issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date was Friday, June 5th. This is a boost from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio is presently 3.58%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WDC shares. Morgan Stanley raised their target price on Western Digital from $488.00 to $650.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Fox Advisors cut shares of Western Digital from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Evercore reissued an “outperform” rating and issued a $575.00 price target on shares of Western Digital in a report on Tuesday, May 26th. Citigroup raised their price objective on shares of Western Digital from $685.00 to $800.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, Rosenblatt Securities lifted their price objective on shares of Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $520.32.

Western Digital News Summary

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

• Positive Sentiment: New coverage says Western Digital is well positioned to benefit from global AI infrastructure growth, with rising demand for advanced memory and storage supporting a stronger long-term revenue outlook. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Another report highlighted Western Digital as one of two smaller AI storage names that could benefit from expanding data center demand, citing improving margins and earnings growth potential. Everyone’s Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: A separate Zacks piece argues AI data growth is accelerating HDD demand and that Western Digital’s focused strategy could help it capture hyperscale storage opportunities. AI Data Growth is Exploding: Can Western Digital Keep Up?
• Neutral Sentiment: Several market wrap-ups noted high volatility in tech and momentum stocks, which is adding noise to trading in Western Digital and other memory names. The Tech Shakeout: Market Extremes & Gavin Baker’s Bold Call
• Neutral Sentiment: Wall Street commentary also flagged Western Digital as part of a broader AI-memory trade, with analysts still generally constructive but market sentiment swinging sharply day to day. Which Storage Stock Is Best Positioned to Win the AI Memory War?
• Negative Sentiment: Multiple reports said Western Digital fell alongside SanDisk and Micron as investors took profits in semiconductor and memory stocks, reflecting sector-wide rotation rather than company-specific trouble. Nasdaq Slips as Chip Stocks Come Under Pressure
• Negative Sentiment: Western Digital also faced a post-rally pullback as traders reassessed how durable the AI-driven storage boom will be ahead of the company’s next earnings report and guidance. Why Western Digital (WDC) Stock Is Down Today

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.