Krilogy Financial LLC Raises Holdings in Western Digital Corporation $WDC

Krilogy Financial LLC grew its holdings in Western Digital Corporation (NASDAQ:WDC) by 40.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 14,820 shares of the data storage provider’s stock after buying an additional 4,301 shares during the quarter. Krilogy Financial LLC’s holdings in Western Digital were worth $4,009,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Rakuten Securities Inc. raised its position 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 worth $27,000 after acquiring an additional 407 shares in the last quarter. Avion Wealth lifted its holdings in Western Digital by 163.8% in the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 113 shares during the period. Swiss RE Ltd. purchased a new stake in shares of Western Digital during the 4th quarter worth $32,000. BOKF NA boosted its position in shares of 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 purchasing an additional 268 shares in the last quarter. Finally, JPL Wealth Management LLC acquired a new position in shares of Western Digital during the 3rd quarter worth $33,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Stock Performance

Western Digital stock opened at $670.75 on Wednesday. Western Digital Corporation has a 1 year low of $60.56 and a 1 year high of $799.87. The firm has a 50 day moving average price of $501.56 and a 200 day moving average price of $335.98. The company has a market cap of $231.19 billion, a price-to-earnings ratio of 40.04 and a beta of 2.13.

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 analysts’ consensus estimates 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 net margin of 55.29% and a return on equity of 42.95%. Western Digital’s revenue was up 45.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Sell-side analysts predict that Western Digital Corporation will post 9.6 EPS for the current year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were given a $0.15 dividend. This is an increase from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Western Digital’s dividend payout ratio is 3.58%.

Insider Transactions at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction dated Friday, May 1st. The stock was 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 of the company’s stock, valued at $246,342,096. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 432 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $545.60, for a total value 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 position. The SEC filing for this sale provides additional information. 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 over the last ninety days. 0.18% of the stock is owned by insiders.

Western Digital News Summary

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

• Positive Sentiment: Analysts have remained constructive on Western Digital, with recent price-target increases from firms including JPMorgan and Morgan Stanley, reflecting optimism about earnings power and AI-related storage demand.
• Positive Sentiment: Western Digital’s recent quarterly results beat expectations, with revenue and EPS ahead of estimates and management guiding for continued expansion, which supports the longer-term bull case.
• Neutral Sentiment: Investor attention has stayed high around Western Digital as the stock has rallied strongly this year, keeping it in focus as a leveraged AI-memory play.
• Negative Sentiment: Today’s decline appears tied to a broad selloff in semiconductor and memory names as investors worry about an AI-bubble-style valuation reset and weakness in Asian chip markets.
• Negative Sentiment: Western Digital also faces some near-term share-overhang concerns after disclosed share-exchange transactions involving Sandisk stock, which may have added pressure on the stock.

Wall Street Analyst Weigh In

WDC has been the subject of a number of research analyst reports. Rosenblatt Securities increased their price target on shares of Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a report on Friday, May 1st. Bank of America upped their price target on shares of Western Digital to $495.00 and gave the company a “buy” rating in a report on Monday, April 27th. Robert W. Baird boosted their price target on Western Digital from $310.00 to $450.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Finally, Barclays lifted their price objective on Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $450.46.

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.