4,137 Shares in Western Digital Corporation $WDC Purchased by AIA Group Ltd

AIA Group Ltd purchased a new position in shares of Western Digital Corporation (NASDAQ:WDC) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,137 shares of the data storage provider’s stock, valued at approximately $1,119,000.

Other institutional investors also recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new position in Western Digital in the 1st quarter valued at $35,000. Cornerstone Planning Group LLC boosted its stake in Western Digital by 33.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 33 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Western Digital by 80.2% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 146 shares of the data storage provider’s stock worth $39,000 after purchasing an additional 65 shares during the last quarter. Global Trust Asset Management LLC purchased a new position in shares of Western Digital in the first quarter worth about $47,000. Finally, Avion Wealth boosted its position in Western Digital by 163.8% during the fourth 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 last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

More Western Digital News

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

• Positive Sentiment: Western Digital is benefiting from a rebound in memory stocks as investors step back in after last week’s selloff, improving sentiment across the semiconductor group. Micron Jumps 5%, SanDisk Rises 6%, Western Digital Climbs 4% as Memory Stocks Rebound With Chips
• Positive Sentiment: Morgan Stanley’s view that the memory-stock selloff created a strong entry point is encouraging dip-buying in Western Digital and other chip names. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Neutral Sentiment: Western Digital Malaysia was recognized for advancing sustainable AI infrastructure, which supports the company’s AI narrative but is unlikely to be the main stock-moving catalyst today. WD Malaysia Recognized for Advancing Sustainable AI Infrastructure

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WDC shares. Wall Street Zen raised shares of Western Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Melius Research set a $1,050.00 price target on Western Digital and gave the company a “buy” rating in a report on Monday, June 29th. Wells Fargo & Company lifted their price objective on Western Digital from $575.00 to $730.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Finally, Sanford C. Bernstein upgraded Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 target price for the company in a report on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Western Digital presently has a consensus rating of “Moderate Buy” and a consensus price target of $520.32.

Insider Activity

In other news, insider Cynthia L. Tregillis sold 432 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $545.60, for a total value of $235,699.20. Following the sale, the insider directly owned 116,643 shares in the company, valued at approximately $63,640,420.80. This trade represents a 0.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction on Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the sale, the chief executive officer directly owned 598,150 shares of the company’s stock, valued at approximately $246,342,096. This trade represents a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 28,959 shares of company stock valued at $12,631,666. 0.18% of the stock is currently owned by company insiders.

Western Digital Stock Up 2.1%

NASDAQ:WDC opened at $487.42 on Tuesday. Western Digital Corporation has a 52 week low of $66.04 and a 52 week high of $799.87. The stock’s fifty day moving average is $560.32 and its two-hundred day moving average is $388.23. The stock has a market capitalization of $168.00 billion, a price-to-earnings ratio of 29.10 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.33. The business had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business’s quarterly revenue was up 45.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, sell-side analysts expect that Western Digital Corporation will post 9.61 EPS for the current fiscal year.

Western Digital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were issued a dividend of $0.15 per share. This is a boost from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 5th. This represents a $0.60 annualized dividend and a yield of 0.1%. Western Digital’s dividend payout ratio (DPR) is presently 3.58%.

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.