Allspring Global Investments Holdings LLC Acquires 3,810 Shares of Western Digital Corporation $WDC

Allspring Global Investments Holdings LLC raised its stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 8.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 47,202 shares of the data storage provider's stock after purchasing an additional 3,810 shares during the period. Allspring Global Investments Holdings LLC's holdings in Western Digital were worth $14,054,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rakuten Securities Inc. lifted its holdings in shares of Western Digital by 4,070.0% in the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 407 shares in the last quarter. Avion Wealth boosted its position in shares of Western Digital by 163.8% during the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider's stock valued at $31,000 after buying an additional 113 shares during the last quarter. Swiss RE Ltd. bought a new stake in Western Digital during the fourth quarter worth $32,000. BOKF NA grew its holdings in Western Digital by 6,700.0% during the third quarter. BOKF NA now owns 272 shares of the data storage provider's stock worth $33,000 after buying an additional 268 shares in the last quarter. Finally, JPL Wealth Management LLC purchased a new stake in Western Digital in the 3rd quarter valued at $33,000. 92.51% of the stock is owned by institutional investors.

Insider Activity

In other Western Digital 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 completion of the transaction, the insider directly owned 116,643 shares of the company's stock, valued at $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 is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total transaction of $396,390.00. Following the transaction, the director owned 3,903 shares of the company's stock, valued at $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,959 shares of company stock worth $12,631,666 in the last three months. Insiders own 0.18% of the company's stock.

Key Western Digital News

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

• Positive Sentiment: Western Digital is benefiting from a sector-wide rebound in semiconductors, with investors buying back into memory stocks after a steep pullback. Why Is Western Digital Stock Surging on Tuesday?
• Positive Sentiment: Reports that AI is driving stronger memory and storage demand are supporting the bull case for Western Digital, with analysts expecting a continued recovery in pricing and earnings power. NVIDIA Isn't Leading AI Stocks in 2026 - These 2 Are Up Over 180%
• Positive Sentiment: Several market summaries say Western Digital is part of a broad AI trade rebound, alongside Micron and SanDisk, as investors look ahead to major tech earnings and a potential memory upgrade cycle. Chip Stocks Surge but Software Sector Feels the Pain Again
• Neutral Sentiment: Western Digital has also been mentioned in commentary about a possible 2027 hardware refresh cycle tied to AI memory growth, which could help long-term demand but is still more of a future thesis than a near-term catalyst. AAPL, HPQ, SNDK, WDC: Gene Munster Says 'Memory Hog' AI Will Trigger a Massive 2027 Upgrade Cycle

Western Digital Trading Up 12.5%

Western Digital stock opened at $548.39 on Wednesday. Western Digital Corporation has a 1-year low of $66.04 and a 1-year high of $799.87. The firm has a market capitalization of $189.02 billion, a price-to-earnings ratio of 32.74 and a beta of 2.11. The firm has a 50 day simple moving average of $561.52 and a 200 day simple moving average of $390.88.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.39 by $0.33. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm's revenue was up 45.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities research analysts forecast that Western Digital Corporation will post 9.61 EPS for the current year.

Western Digital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were given a $0.15 dividend. 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 $0.12. The ex-dividend date was Friday, June 5th. Western Digital's dividend payout ratio (DPR) is 3.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. UBS Group reaffirmed a "neutral" rating and set a $560.00 price objective on shares of Western Digital in a report on Monday, July 13th. Zacks Research upgraded shares of Western Digital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 6th. Susquehanna raised their price target on shares of Western Digital from $360.00 to $500.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. Rosenblatt Securities boosted their price target on shares of Western Digital from $340.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Finally, Bank of America upped their price objective on shares of Western Digital from $610.00 to $732.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.

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