First Horizon Corp Makes New Investment in Western Digital Corporation $WDC

First Horizon Corp purchased a new position in Western Digital Corporation (NASDAQ:WDC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,640 shares of the data storage provider’s stock, valued at approximately $557,000.

Several other institutional investors also recently modified their holdings of WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Western Digital by 7.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock worth $1,698,000 after buying an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Western Digital by 229.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after purchasing an additional 967 shares during the last quarter. Inspire Investing LLC raised its holdings in shares of Western Digital by 77.2% during the first quarter. Inspire Investing LLC now owns 7,662 shares of the data storage provider’s stock valued at $310,000 after purchasing an additional 3,338 shares during the last quarter. Parallel Advisors LLC lifted its position in Western Digital by 112.0% during the second quarter. Parallel Advisors LLC now owns 5,524 shares of the data storage provider’s stock valued at $353,000 after purchasing an additional 2,918 shares during the period. Finally, E. Ohman J or Asset Management AB purchased a new stake in Western Digital in the second quarter worth approximately $987,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WDC has been the subject of a number of research reports. Rosenblatt Securities boosted their target price on shares of Western Digital from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 target price on shares of Western Digital in a report on Tuesday, December 16th. Susquehanna restated a “neutral” rating and set a $135.00 price target on shares of Western Digital in a research note on Thursday, November 6th. Finally, TD Cowen upped their price target on shares of Western Digital from $90.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.50.

Western Digital Stock Performance

NASDAQ:WDC opened at $214.00 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.94 and a current ratio of 1.21. The stock has a 50-day simple moving average of $172.29 and a two-hundred day simple moving average of $121.58. The firm has a market capitalization of $73.17 billion, a PE ratio of 31.15, a P/E/G ratio of 1.31 and a beta of 1.78. Western Digital Corporation has a 52-week low of $28.83 and a 52-week high of $221.23.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, October 30th. The data storage provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.21. The firm had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Western Digital had a return on equity of 30.89% and a net margin of 21.37%.The business’s quarterly revenue was up 27.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 EPS. Western Digital has set its Q2 2026 guidance at 1.730-2.030 EPS. Analysts forecast that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Thursday, December 4th. This is a positive change from Western Digital’s previous quarterly dividend of $0.10. Western Digital’s payout ratio is 7.28%.

Insider Activity

In other news, Director Kimberly Alexy sold 1,768 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $154.00, for a total value of $272,272.00. Following the transaction, the director directly owned 3,585 shares in the company, valued at $552,090. The trade was a 33.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cynthia L. Tregillis sold 2,801 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $160.57, for a total value of $449,756.57. Following the sale, the insider owned 144,596 shares of the company’s stock, valued at $23,217,779.72. This represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,369 shares of company stock worth $4,013,785 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

More Western Digital News

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

• Positive Sentiment: AI-driven storage demand is cited as the main fundamental driver behind WDC’s recent surge — Zacks highlights an 86.5% three‑month jump as AI workloads boost margins and cash returns, supporting investor optimism about continued secular demand for high-capacity storage. WDC Skyrockets 87% in 3 Months
• Positive Sentiment: Inclusion/refresh of the Nasdaq-100 added data-storage names including WDC, which can bring incremental passive inflows and greater institutional visibility — a technical tailwind for the stock. Tech Wreck or Valuation Reset?
• Positive Sentiment: Analyst coverage is constructive: consensus ratings skew toward “buy” (MarketBeat/Maketbeat-sourced consensus shows a moderate‑buy tilt), which supports demand from discretionary and model-driven buyers. Analysts Give Moderate Buy
• Neutral Sentiment: Upcoming catalyst: WDC will report FYQ2 results on Jan 29 — results and updated guidance will likely drive short-term volatility and could reinforce the recent price move. Earnings Date Announcement
• Neutral Sentiment: Corporate actions nearby: the SanDisk spin‑off has posted outsized gains since separation, drawing attention to WDC’s capital‑allocation decisions and how value may be realized through portfolio moves (this is informative but not an immediate cash inflow to WDC). Up 948%, Should You Buy Sandisk?
• Neutral Sentiment: Short‑interest reporting appears anomalous and currently shows no clear build in short interest; as reported figures are inconsistent, short‑squeeze risk or pressure is not evident as a driver right now.
• Negative Sentiment: Macro/market risk: MarketBeat warns that Fed uncertainty and a potential rotation away from high‑growth tech could reprice duration‑sensitive names — if broader tech sentiment reverses, WDC could face pullbacks despite sector‑specific tailwinds. Tech Wreck or Valuation Reset?

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.