Cynthia Tregillis Sells 432 Shares of Western Digital (NASDAQ:WDC) Stock

Key Points

• Insider sale: Western Digital insider Cynthia Tregillis sold 432 shares at an average price of $545.60, a transaction worth about $235,699.20. The sale was made under a pre-arranged Rule 10b5-1 plan.
• Stock and earnings strength: Western Digital reported quarterly EPS of $2.72, beating estimates, while revenue rose 45.5% year over year to $3.34 billion. Despite the strong results, the stock was down 11.1% in midday trading on Friday.
• Rising analyst optimism and dividend increase: Several firms lifted price targets, including Citigroup to $685, and the consensus rating remains Moderate Buy. The company also raised its quarterly dividend to $0.15 from $0.13.

Western Digital Corporation (NASDAQ:WDC - Get Free Report) insider Cynthia Tregillis sold 432 shares of Western Digital stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the completion of the transaction, the insider directly owned 116,643 shares in the company, valued at approximately $63,640,420.80. This represents a 0.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Western Digital Trading Down 11.1%

WDC traded down $63.78 during midday trading on Friday, reaching $511.72. The company's stock had a trading volume of 8,984,828 shares, compared to its average volume of 8,873,398. Western Digital Corporation has a twelve month low of $54.60 and a twelve month high of $602.54. The stock has a market cap of $176.38 billion, a P/E ratio of 30.55 and a beta of 2.13. The company has a fifty day simple moving average of $417.75 and a 200 day simple moving average of $293.25.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company had revenue of $3.34 billion during the quarter, compared to analysts' expectations of $3.25 billion. During the same period in the prior year, the business earned $1.36 earnings per share. Western Digital's revenue for the quarter was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Sell-side analysts expect that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be given a $0.15 dividend. The ex-dividend date is Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. This is an increase from Western Digital's previous quarterly dividend of $0.13. Western Digital's dividend payout ratio is 3.58%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Western Digital by 7.7% during the first 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 in the last quarter. Geneos Wealth Management Inc. boosted its stake 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 in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Western Digital during the second quarter worth about $307,000. Cresset Asset Management LLC bought a new stake in shares of Western Digital during the second quarter worth about $292,000. Finally, Federated Hermes Inc. increased its stake in shares of Western Digital by 55.3% in the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider's stock valued at $152,000 after buying an additional 845 shares during the period. Institutional investors and hedge funds own 92.51% of the company's stock.

Western Digital News Roundup

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

• Positive Sentiment: Western Digital is benefiting from strong investor enthusiasm around AI-driven storage demand, with recent articles highlighting new AI-focused storage technologies, improved analyst valuation estimates, and expectations for firmer HDD and memory pricing. Why Western Digital (WDC) Is Up 12.0% After Unveiling New AI‑Focused Storage Technologies
• Positive Sentiment: Citigroup reportedly raised its price target on Western Digital by 37%, helping push the stock to fresh highs as investors positioned ahead of the company’s Computex-related AI announcements. Western Digital (WDC) Hits All-Time High as Citi Hikes PT by 37%
• Positive Sentiment: The company has also been cleaning up its balance sheet and making more AI-related moves, which some investors view as supporting additional upside. Western Digital Could Be Halfway Through Retiring 2028 Convertible Debt. What It Means for the Stock.
• Neutral Sentiment: Western Digital’s recent earnings were strong, with the company beating estimates and issuing upbeat guidance, but the stock still saw a short-term dip as some traders appeared to take profits after a big run. Western Digital (WDC) Stock Dips 3% Despite Strong Earnings—Should Investors Buy the Pullback?
• Neutral Sentiment: Recent coverage also notes that the broader market and semiconductor stocks have been choppy, with Broadcom’s cautious AI outlook pressuring memory names like Western Digital even after the company’s strong news flow. MU, SNDK, WDC: Memory Stocks Dip As Broadcom’s Forecast Dampens AI Sentiment, Retail Turns Buyer
• Negative Sentiment: One near-term headwind is profit-taking after Western Digital’s rapid run-up to all-time highs, which has led to some price weakness despite the longer-term bullish narrative. Western Digital (WDC) Stock Dips While Market Gains: Key Facts

Analysts Set New Price Targets

Several research firms recently commented on WDC. Citigroup raised their target price on Western Digital from $500.00 to $685.00 and gave the stock a "buy" rating in a research report on Tuesday. Morgan Stanley restated an "overweight" rating and issued a $488.00 price objective on shares of Western Digital in a report on Friday, May 1st. Robert W. Baird increased their price target on shares of Western Digital from $310.00 to $450.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Wells Fargo & Company raised their price target on Western Digital from $500.00 to $575.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Rosenblatt Securities increased their target price on Western Digital from $340.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $424.33.

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.

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