Allstate Corp Buys New Position in Western Digital Corporation $WDC

Allstate Corp bought a new position in shares of Western Digital Corporation (NASDAQ:WDC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,143 shares of the data storage provider’s stock, valued at approximately $1,578,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. NorthCrest Asset Manangement LLC boosted its position in shares of Western Digital by 26.5% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 5,397 shares of the data storage provider’s stock valued at $647,000 after purchasing an additional 1,132 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Western Digital by 17.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 65,747 shares of the data storage provider’s stock valued at $7,885,000 after purchasing an additional 9,689 shares during the last quarter. Inspire Advisors LLC bought a new stake in Western Digital during the third quarter worth approximately $4,450,000. Donoghue Forlines LLC acquired a new position in Western Digital in the third quarter worth approximately $2,743,000. Finally, Resonant Capital Advisors LLC acquired a new position in Western Digital in the third quarter worth approximately $201,000. 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: Bank of America raised its WDC price target to $257 and reaffirmed a Buy rating, signaling confidence in pricing and margin upside for WDC. Bank of America resets WDC price target
• Positive Sentiment: Rosenblatt Securities raised its price target to $270 and kept a Buy rating, another institutional upgrade that adds upward pressure to consensus estimates. Rosenblatt raises WDC target
• Positive Sentiment: Analyst commentary and sector research (memory/AI storage) argue that constrained supply, firm pricing and rising margins could sustain gains for WDC and peers — reinforcing the bullish analyst actions. Why Memory Stocks Like Western Digital May Still Rally From Here, Analysts Say
• Positive Sentiment: Notable investors (including several billionaires) added WDC to portfolios in recent quarters, a signal of confidence from large allocators into AI-infrastructure plays. Billionaires Buy 2 Artificial Intelligence (AI) Stocks Up 830% and 1,180% Since 2023
• Neutral Sentiment: Western Digital announced an Innovation Day on Feb 3 (NYC + webcast) to showcase AI-focused storage products — this is a near-term catalyst where product details or roadmap guidance could move the stock. Western Digital to Host Innovation Day 2026 in New York City
• Neutral Sentiment: A recent valuation/coverage piece reviews analyst upgrades and rising earnings expectations tied to AI storage demand — useful context but not a direct catalyst beyond the upgrades themselves. Western Digital (WDC) Valuation Check As Analyst Upgrades And AI Storage Optimism Drive Earnings Expectations
• Neutral Sentiment: Consumer promotion: a temporary discount on a WD_Black Xbox expansion card surfaced — minor for enterprise-facing AI storage economics but noteworthy for retail product momentum. WD_Black 1TB Storage Expansion Card for Xbox Drops to $0.15 per GB With Its First Discount of the Year

Insider Buying and Selling at Western Digital

In other news, Director Kimberly Alexy sold 1,768 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $154.00, for a total transaction of $272,272.00. Following the transaction, the director owned 3,585 shares in the company, valued at $552,090. This represents a 33.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $150.69, for a total transaction of $3,013,800.00. Following the completion of the sale, the chief executive officer directly owned 645,467 shares of the company’s stock, valued at approximately $97,265,422.23. The trade was a 3.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,369 shares of company stock valued at $4,013,785 over the last three months. 0.18% of the stock is owned by insiders.

Western Digital Trading Up 0.7%

NASDAQ WDC opened at $222.97 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.42. Western Digital Corporation has a 1-year low of $28.83 and a 1-year high of $230.48. The firm’s fifty day simple moving average is $177.73 and its 200-day simple moving average is $127.05. The company has a market capitalization of $76.23 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 1.37 and a beta of 1.78.

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

Western Digital Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Benchmark raised their price objective on Western Digital from $115.00 to $163.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. TD Cowen upped their target price on Western Digital from $90.00 to $200.00 and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of Western Digital in a research note on Monday, December 29th. The Goldman Sachs Group restated a “neutral” rating and set a $165.00 price objective on shares of Western Digital in a report on Friday, January 9th. Finally, Mizuho set a $240.00 target price on shares of Western Digital in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.76.

About Western Digital

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.