Kestra Private Wealth Services LLC Has $3.37 Million Holdings in Western Digital Corporation $WDC

Kestra Private Wealth Services LLC cut its holdings in Western Digital Corporation (NASDAQ:WDC) by 7.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,439 shares of the data storage provider’s stock after selling 985 shares during the period. Kestra Private Wealth Services LLC’s holdings in Western Digital were worth $3,365,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WDC. Norges Bank bought a new stake in shares of Western Digital during the 4th quarter worth about $788,729,000. Northern Trust Corp raised its stake in shares of Western Digital by 11.2% in the 3rd quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock valued at $456,884,000 after acquiring an additional 384,103 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Western Digital by 11.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,804,907 shares of the data storage provider’s stock worth $456,737,000 after purchasing an additional 402,981 shares during the last quarter. Fred Alger Management LLC lifted its holdings in Western Digital by 4,923.9% in the 3rd quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock worth $409,049,000 after purchasing an additional 3,339,225 shares during the last quarter. Finally, Soroban Capital Partners LP boosted its position in Western Digital by 1,926.3% during the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after purchasing an additional 2,910,062 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital News Roundup

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

• Positive Sentiment: Micron’s strong quarterly results reinforced the AI-driven memory shortage theme, which has lifted Western Digital along with other memory stocks. Western Digital Stock And Seagate Get Boost From Big Micron Earnings Beat
• Positive Sentiment: Analysts and commentators continue to highlight strong AI memory demand, rising estimate revisions, and favorable supply-demand dynamics for WDC. Micron’s Robust Q3 Results Raise Investor Attention on These 3 Stocks
• Neutral Sentiment: Reports of SK Hynix planning a Nasdaq listing on July 10 add more attention to the broader memory ecosystem, but the direct impact on WDC is unclear. Is the Roundhill Memory ETF (DRAM) a Buy Before July 10?
• Negative Sentiment: After the sector’s big rally, memory and semiconductor stocks are pulling back as investors take profits and worry that memory and storage costs may have gotten ahead of fundamentals. MU, SNDK, WDC: 3 Key Reasons Why Memory Stocks Are Falling Today
• Negative Sentiment: Broader tech-sector weakness is weighing on WDC alongside other chip names, adding to the selloff in the group. Semiconductor stocks retreat over worries about memory costs

Western Digital Trading Down 13.2%

Shares of NASDAQ:WDC opened at $586.45 on Friday. The firm has a market capitalization of $202.14 billion, a PE ratio of 35.01 and a beta of 2.13. Western Digital Corporation has a 1-year low of $62.65 and a 1-year high of $799.87. The business’s 50 day moving average is $518.00 and its 200-day moving average is $344.63.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating 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 business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same period in the prior year, the company posted $1.36 earnings per share. Western Digital’s 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. On average, sell-side analysts predict that Western Digital Corporation will post 9.6 EPS for the current 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 issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, June 5th. This is a positive change from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s payout ratio is 3.58%.

Wall Street Analysts Forecast Growth

WDC has been the topic of several analyst reports. Wells Fargo & Company increased their price target on Western Digital from $500.00 to $575.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Barclays upped their price objective on shares of Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. 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. Wall Street Zen upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Sanford C. Bernstein raised shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 target price for the company in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $450.46.

Insider Buying and Selling at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the sale, the insider owned 85,154 shares of the company’s stock, valued at $47,366,060.96. The trade was a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the transaction, the director owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This represents a 16.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,322 shares of company stock valued at $12,768,550 in the last 90 days. Insiders own 0.18% of the company’s stock.

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.