Western Digital Corporation $WDC Holdings Reduced by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its position in Western Digital Corporation (NASDAQ:WDC) by 11.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,156 shares of the data storage provider’s stock after selling 15,376 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Western Digital were worth $33,583,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Rakuten Securities Inc. grew its holdings in Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after buying an additional 407 shares in the last quarter. Avion Wealth raised its stake in Western Digital by 163.8% during the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 113 shares in the last quarter. Swiss RE Ltd. acquired a new position in Western Digital during the 4th quarter worth $32,000. BOKF NA boosted its position in Western Digital by 6,700.0% during the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider’s stock worth $33,000 after acquiring an additional 268 shares during the period. Finally, JPL Wealth Management LLC bought a new position in shares of Western Digital in the third quarter worth $33,000. Institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of the 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 completion of the sale, the chief executive officer directly owned 598,150 shares of the company’s stock, valued at $246,342,096. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 432 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $545.60, for a total transaction of $235,699.20. Following the sale, the insider 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 29,322 shares of company stock worth $12,768,550. Company insiders own 0.18% of the company’s stock.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Some analysts remain constructive on Western Digital, with one report suggesting the stock could still have meaningful upside from current levels thanks to improving memory pricing and AI-driven demand. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here
• Positive Sentiment: Several market commentary pieces argue that Western Digital and other memory stocks may look attractive after the recent sell-off because of lower valuations, better supply-demand trends, and ongoing AI-related storage demand. Why You Must Buy These 4 Memory Stocks After the Recent Sell-Off
• Neutral Sentiment: Western Digital’s upcoming earnings preview is drawing attention, but no new company-specific results were reported in these articles. Western Digital’s Quarterly Earnings Preview: What You Need to Know
• Negative Sentiment: Shares are being hit by broad profit-taking across memory stocks after a sharp rally this year, with traders locking in gains in Western Digital, Micron, SanDisk, and peers. SK Hynix Drops 5%, SanDisk Slides 6%, Western Digital Slips 4% as Traders Take Profits in Memory Stocks
• Negative Sentiment: Western Digital also fell after CXMT’s reported $10 billion IPO plans raised fears of a stronger new competitor entering the memory market, adding to concerns about future pricing and margins. Western Digital Stock Tumbles as CXMT Targets $10 Billion Shanghai IPO
• Negative Sentiment: Another market wrap noted that Western Digital was down sharply as the broader chip selloff weighed on the memory sector. Western Digital (WDC) Stock Dips While Market Gains: Key Facts

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein upgraded shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price objective on the stock in a research note on Tuesday, March 31st. Jefferies Financial Group set a $575.00 target price on shares of Western Digital in a research report on Tuesday, May 26th. Robert W. Baird raised their target price on shares of Western Digital from $310.00 to $450.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. The Goldman Sachs Group restated a “neutral” rating and set a $400.00 price target on shares of Western Digital in a research report on Friday, May 1st. Finally, Susquehanna upped their price target on shares of Western Digital from $360.00 to $500.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $520.32.

Western Digital Stock Down 8.8%

Shares of Western Digital stock opened at $513.84 on Thursday. The firm has a market cap of $177.11 billion, a price-to-earnings ratio of 30.68 and a beta of 2.11. The business has a fifty day simple moving average of $560.89 and a 200-day simple moving average of $381.93. Western Digital Corporation has a fifty-two week low of $65.79 and a fifty-two 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 for the quarter, beating the consensus estimate of $2.39 by $0.33. The business 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 company’s quarterly revenue was up 45.5% on a year-over-year basis. During the same quarter last year, the business posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Analysts anticipate that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were given a dividend of $0.15 per share. This is a positive change 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 dividend yield of 0.1%. Western Digital’s payout ratio is 3.58%.

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.