SMART Wealth LLC Buys Shares of 6,794 Western Digital Corporation $WDC

SMART Wealth LLC purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 6,794 shares of the data storage provider’s stock, valued at approximately $1,838,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of WDC. GHP Investment Advisors Inc. boosted its position in shares of Western Digital by 9.2% in the first quarter. GHP Investment Advisors Inc. now owns 357 shares of the data storage provider’s stock valued at $97,000 after acquiring an additional 30 shares during the period. Alps Advisors Inc. grew its stake in Western Digital by 0.8% during the fourth quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider’s stock valued at $811,000 after acquiring an additional 37 shares in the last quarter. Quadcap Wealth Management LLC increased its holdings in Western Digital by 2.1% during the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock worth $346,000 after acquiring an additional 41 shares during the period. Moss Adams Wealth Advisors LLC increased its holdings in Western Digital by 2.6% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider’s stock worth $341,000 after acquiring an additional 51 shares during the period. Finally, Falcon Wealth Planning lifted its stake in Western Digital by 2.6% in the 1st quarter. Falcon Wealth Planning now owns 2,170 shares of the data storage provider’s stock worth $587,000 after purchasing an additional 54 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors.

Western Digital News Roundup

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

• Positive Sentiment: Melius Research initiated coverage of Western Digital with a Buy rating and a price target implying significant upside, boosting investor confidence in the stock. Article Title
• Positive Sentiment: Analysts highlighted about 55% upside for Western Digital and noted bullish options flow, with call buying outpacing put buying, suggesting traders are positioning for further gains. Article Title
• Positive Sentiment: Western Digital has been screening as a top momentum name in AI infrastructure, helped by strong earnings trends and continued demand tied to storage needs. Article Title
• Neutral Sentiment: Recent market commentary says Western Digital remains in a strong bullish trend and is trading well above its 200-day moving average, which supports the stock technically but does not add a major new catalyst. Article Title

Western Digital Price Performance

Shares of WDC opened at $638.72 on Wednesday. Western Digital Corporation has a 1 year low of $62.94 and a 1 year high of $799.87. The stock has a 50 day simple moving average of $529.13 and a two-hundred day simple moving average of $352.48. The firm has a market cap of $220.15 billion, a P/E ratio of 38.13 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 EPS for the quarter, topping the consensus estimate of $2.39 by $0.33. The firm 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%. The business’s revenue was up 45.5% compared to the same quarter last year. During the same period last year, the firm posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities analysts anticipate that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The firm 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 represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Friday, June 5th. This is a boost from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio is 3.58%.

Insider Buying and Selling at Western Digital

In other Western Digital news, Director Bruce E. Kiddoo sold 750 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director directly owned 3,903 shares of the company’s stock, valued at $2,062,813.56. The trade was a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 598,150 shares of the company’s stock, valued at approximately $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,322 shares of company stock worth $12,768,550 in the last 90 days. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

WDC has been the subject of several analyst reports. Citigroup raised their price target on shares of Western Digital from $500.00 to $685.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Evercore reaffirmed an “outperform” rating and issued a $575.00 price target on shares of Western Digital in a report on Tuesday, May 26th. Wall Street Zen upgraded Western Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Robert W. Baird lifted their price objective on Western Digital from $310.00 to $450.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $400.00 target price on shares of Western Digital in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Western Digital presently has an average rating of “Moderate Buy” and an average target price of $484.04.

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.