Western Digital Corporation $WDC Stock Holdings Lowered by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC trimmed its holdings in Western Digital Corporation (NASDAQ:WDC) by 25.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,427 shares of the data storage provider’s stock after selling 30,884 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Western Digital were worth $10,977,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Western Digital by 0.6% during the third quarter. Vanguard Group Inc. now owns 43,282,393 shares of the data storage provider’s stock valued at $5,196,484,000 after purchasing an additional 243,177 shares during the period. WCM Investment Management LLC acquired a new stake in Western Digital in the third quarter worth about $791,317,000. Holocene Advisors LP grew its position in Western Digital by 8.5% in the 2nd quarter. Holocene Advisors LP now owns 5,535,972 shares of the data storage provider’s stock valued at $354,247,000 after buying an additional 431,419 shares in the last quarter. Northern Trust Corp increased its stake in Western Digital by 11.2% during 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 buying an additional 384,103 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Western Digital by 11.8% during 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 buying an additional 402,981 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $340.00 price target on shares of Western Digital in a research note on Wednesday, February 4th. Mizuho boosted their target price on Western Digital to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Evercore restated an “outperform” rating and issued a $230.00 target price on shares of Western Digital in a research report on Friday, January 16th. Citigroup increased their price target on Western Digital to $325.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, Truist Financial set a $310.00 price target on Western Digital in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Western Digital currently has an average rating of “Moderate Buy” and an average target price of $265.58.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Hyperscaler partnerships are strengthening revenue visibility for fiscal 2026 and support Western Digital’s high-capacity storage roadmap for AI/data-center customers — a demand-side fundamental that underpins longer-term sales growth. Western Digital’s Hyperscaler Momentum Boosts Revenue Visibility
• Positive Sentiment: Technical momentum remains constructive — analysts and chart watchers cite a recent golden-cross (50-day SMA crossing above 200-day SMA), which can attract trend-following capital and support the stock on pullbacks. These 2 Data Storage Stocks Just Flashed Golden Crosses
• Neutral Sentiment: Valuation and momentum are now front-and-center — recent outsized gains have left investors parsing whether current prices already reflect near-term demand upside; some coverage frames current moves as momentum-driven rather than news-driven. Western Digital (WDC) Valuation Check After Strong Recent Share Price Momentum
• Negative Sentiment: Profit-taking and a “reset” in expectations after the AI-driven run-up appear to be the immediate catalysts; a recent conference presentation was treated by some traders as a sell-the-news event rather than a fresh demand surprise. Additionally, management’s move to monetize remaining SanDisk stake (cash-raising to reduce debt) may be viewed as balance-sheet cleanup rather than an earnings accelerator. Heavy insider selling (many recent open-market sales, few/zero purchases) adds to negative perception. Western Digital (WDC) slides as investors extend a pullback after a sharp AI-driven run-up

Western Digital Stock Performance

Shares of Western Digital stock opened at $293.10 on Friday. The firm has a fifty day moving average of $265.63 and a two-hundred day moving average of $186.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.46. The stock has a market capitalization of $99.37 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 0.73 and a beta of 1.76. Western Digital Corporation has a 52 week low of $28.83 and a 52 week high of $319.62.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, January 29th. The data storage provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.20. The firm had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Western Digital had a net margin of 35.52% and a return on equity of 41.53%. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.77 earnings per share. As a group, equities research analysts predict that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Thursday, March 5th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, March 5th. Western Digital’s dividend payout ratio (DPR) is currently 5.02%.

Insider Transactions at Western Digital

In other news, Director Matthew E. Massengill sold 36,926 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $260.43, for a total transaction of $9,616,638.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vidyadhara K. Gubbi sold 8,518 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $255.32, for a total transaction of $2,174,815.76. Following the completion of the sale, the insider directly owned 99,276 shares in the company, valued at approximately $25,347,148.32. This represents a 7.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 92,795 shares of company stock worth $24,265,884 in the last 90 days. 0.18% of the stock is owned by corporate insiders.

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.