Soltis Investment Advisors LLC Purchases Shares of 1,543 Western Digital Corporation $WDC

Soltis Investment Advisors LLC purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,543 shares of the data storage provider’s stock, valued at approximately $266,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDC. Rakuten Securities Inc. raised its position 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 valued at $27,000 after purchasing an additional 407 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in Western Digital by 551.4% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 204 shares during the last quarter. Westfuller Advisors LLC purchased a new position in shares of Western Digital during the 3rd quarter worth approximately $30,000. Avion Wealth grew its holdings 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 during the period. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Western Digital by 207.0% during the 3rd 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 during the period. Institutional investors own 92.51% of the company’s stock.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Western Digital announced industry-first post-quantum cryptography hard drives, reinforcing its pitch that it can win more AI data-center business by offering “quantum-safe” storage security for hyperscalers. 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: Multiple reports highlighted that AI infrastructure is driving a storage supercycle, with stronger pricing power for enterprise SSDs and hard drives; that backdrop is favorable for Western Digital’s revenue and margins. Seagate and Western Digital: AI Storage Demand Is Now Showing Up in Pricing Power
• Positive Sentiment: Analyst commentary suggests Western Digital’s fair value is being revised higher on stronger earnings expectations tied to AI storage demand, and one note cited a price target around $504, supporting the stock’s long-term bull case. Why The Western Digital (WDC) Story Is Shifting On New Earnings And AI Storage Expectations
• Positive Sentiment: Western Digital was added to the 2026 S&P Dow Jones Best-in-Class Index North America, a small but constructive inclusion that can improve visibility with institutional investors. Western Digital Corporation (WDC) Included in 2026 S&P Dow Jones Best-in-Class Index North America
• Neutral Sentiment: Shares were little changed in the session after a sharp sector-wide selloff, as memory stocks including Micron and SanDisk bounced while Western Digital lagged, suggesting WDC is being pulled around by broader group trading rather than company-specific news. Micron Is Up 6% Today: Is It Outperforming Other Memory Stocks Like SanDisk and Western Digital?
• Negative Sentiment: Near-term sentiment was pressured by reports of AI supply-chain and capacity-crunch fears across memory stocks, which sparked a premarket selloff in Western Digital and peers. Micron, Seagate, Western Digital Sink On Capacity Crunch Fears

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WDC shares. Wells Fargo & Company upped their target price on Western Digital from $335.00 to $500.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Bank of America upped their target price on Western Digital to $495.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Citigroup upped their target price on Western Digital from $405.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Evercore reiterated an “outperform” rating and set a $500.00 target price on shares of Western Digital in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their target price on Western Digital from $320.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $395.83.

Western Digital Stock Down 0.6%

Western Digital stock opened at $455.80 on Wednesday. The company has a market capitalization of $157.11 billion, a P/E ratio of 27.21 and a beta of 2.10. The stock’s 50 day moving average is $360.35 and its 200 day moving average is $262.26. 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 company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm’s quarterly revenue was up 45.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 EPS. 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 EPS for the current year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be given a $0.15 dividend. This is a boost from Western Digital’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend 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%.

Insider Activity at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 10,148 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $270.31, for a total value of $2,743,105.88. Following the transaction, the insider directly owned 107,794 shares of the company’s stock, valued at approximately $29,137,796.14. This represents a 8.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the company’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 value of $8,236,800.00. Following the completion of the transaction, the chief executive officer directly owned 598,150 shares in the company, valued at $246,342,096. This trade represents a 3.24% 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 three months, insiders have sold 53,679 shares of company stock valued at $18,049,314. 0.18% of the stock is owned by corporate insiders.

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.