Beese Fulmer Investment Management Inc. Makes New Investment in Western Digital Corporation $WDC

Beese Fulmer Investment Management Inc. acquired a new position in shares of Western Digital Corporation (NASDAQ:WDC) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,958 shares of the data storage provider’s stock, valued at approximately $337,000.

Several other hedge funds also recently added to or reduced their stakes in WDC. Rakuten Securities Inc. grew its holdings in Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 407 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position 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 worth $29,000 after buying an additional 204 shares during the last quarter. Westfuller Advisors LLC bought a new position in shares of Western Digital in the 3rd quarter worth about $30,000. Avion Wealth lifted its position 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 worth $31,000 after buying an additional 113 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its position in shares of Western Digital by 207.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the data storage provider’s stock worth $32,000 after buying an additional 178 shares during the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Western Digital news, insider Cynthia L. Tregillis sold 363 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $377.09, for a total transaction of $136,883.67. Following the sale, the insider directly owned 120,023 shares in the company, valued at approximately $45,259,473.07. The trade was a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the sale, the insider owned 90,041 shares in the company, valued at $39,905,270.79. This trade represents a 4.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 53,679 shares of company stock worth $18,049,314. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WDC shares. Truist Financial set a $310.00 price target on shares of Western Digital in a research report on Tuesday, February 3rd. Robert W. Baird raised their price target on shares of Western Digital from $310.00 to $450.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Cantor Fitzgerald raised their price target on shares of Western Digital to $660.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Susquehanna restated a “neutral” rating and issued a $285.00 price target on shares of Western Digital in a research report on Friday, February 6th. Finally, Evercore restated an “outperform” rating and issued a $500.00 price target on shares of Western Digital in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $395.83.

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?

Western Digital Trading Down 4.8%

NASDAQ WDC opened at $458.68 on Tuesday. Western Digital Corporation has a 52 week low of $49.00 and a 52 week high of $525.15. The stock has a market cap of $158.10 billion, a price-to-earnings ratio of 27.38 and a beta of 2.10. The company has a 50-day moving average price of $356.14 and a two-hundred day moving average price of $260.04.

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

Western Digital Increases Dividend

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

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.