2,263 Shares in Western Digital Corporation $WDC Acquired by Bryn Mawr Trust Advisors LLC

Key Points

• Bryn Mawr Trust Advisors LLC initiated a new position in Western Digital, buying 2,263 shares worth about $612,000 in the first quarter. The filing adds to evidence that institutional ownership in WDC remains very high.
• Western Digital recently delivered better-than-expected quarterly results, with EPS of $2.72 versus $2.39 expected and revenue of $3.34 billion versus $3.25 billion projected. The company also raised its quarterly dividend to $0.15 per share from $0.12.
• Wall Street sentiment is broadly positive, with several analysts lifting price targets and maintaining Buy/Overweight ratings. However, the stock remains sensitive to swings in the AI-memory trade and recent semiconductor sector volatility.

Bryn Mawr Trust Advisors LLC acquired a new stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,263 shares of the data storage provider's stock, valued at approximately $612,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Cantor Fitzgerald L. P. grew its stake in shares of Western Digital by 399.8% in the third quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider's stock valued at $3,900,000 after buying an additional 25,987 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Western Digital during the 4th quarter valued at about $2,270,000. NorthCrest Asset Manangement LLC lifted its position in Western Digital by 75.4% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider's stock worth $1,778,000 after acquiring an additional 4,068 shares in the last quarter. WESPAC Advisors LLC acquired a new position in Western Digital during the 4th quarter worth approximately $793,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Western Digital by 33.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,122,095 shares of the data storage provider's stock worth $193,303,000 after acquiring an additional 282,156 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Stock Up 1.4%

Shares of Western Digital stock opened at $563.32 on Wednesday. The firm has a market cap of $194.17 billion, a P/E ratio of 33.63 and a beta of 2.11. Western Digital Corporation has a fifty-two week low of $65.79 and a fifty-two week high of $799.87. The business has a 50-day moving average price of $560.28 and a 200 day moving average price of $379.58.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion for the quarter, compared to analysts' expectations of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.Western Digital's revenue for the quarter was up 45.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, equities research analysts anticipate that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were issued a $0.15 dividend. This is a boost from Western Digital's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Friday, June 5th. Western Digital's dividend payout ratio is presently 3.58%.

Western Digital News Roundup

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

• Positive Sentiment: Western Digital is benefiting from a rebound in memory and storage stocks after Monday’s sector-wide drop tied to SK Hynix volatility and broader chip-market pressure. SK Hynix ADR Soars 19% as Leveraged ETFs Launch, Lifting Micron, SanDisk, Western Digital
• Positive Sentiment: Several recent analyst notes are bullish on WDC, with commentary citing strong demand, improving pricing, and the possibility of meaningful upside from current levels. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here
• Positive Sentiment: Western Digital’s upcoming earnings report is in focus, and Wall Street is expecting a strong year-over-year profit jump, which could support the stock if results and guidance beat expectations. Western Digital's Quarterly Earnings Preview: What You Need to Know
• Neutral Sentiment: The company has confirmed it will report fourth-quarter and fiscal 2026 results on August 5, keeping earnings-related speculation elevated in the near term. WD to Announce Fourth Quarter and Fiscal Year 2026 Financial Results on August 5, 2026
• Negative Sentiment: WDC remains sensitive to swings in the AI-memory trade, and the stock was recently hit by a sharp sector pullback sparked by SK Hynix’s weak outlook and broader chip-market jitters. SK Hynix’s record plunge drags down global chip stocks

Insider Buying and Selling at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 2,475 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the sale, the insider directly owned 85,154 shares of the company's stock, valued at approximately $47,366,060.96. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cynthia L. Tregillis sold 432 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $545.60, for a total transaction of $235,699.20. Following the completion of the transaction, the insider owned 116,643 shares in the company, valued at approximately $63,640,420.80. The trade was a 0.37% 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. Insiders have sold 29,322 shares of company stock worth $12,768,550 in the last ninety days. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WDC has been the subject of several recent research reports. Citigroup increased their price objective on shares of Western Digital from $685.00 to $800.00 and gave the company a "buy" rating in a research report on Monday. JPMorgan Chase & Co. upped their target price on shares of Western Digital from $530.00 to $650.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Barclays raised their price target on shares of Western Digital from $450.00 to $620.00 and gave the company an "overweight" rating in a report on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $400.00 price target on shares of Western Digital in a research note on Friday, May 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Western Digital from $575.00 to $730.00 and gave the stock an "overweight" rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Western Digital presently has an average rating of "Moderate Buy" and an average target price of $520.32.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.