Allworth Financial LP Purchases 3,088 Shares of Western Digital Corporation $WDC

Allworth Financial LP grew its position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 52.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,004 shares of the data storage provider's stock after purchasing an additional 3,088 shares during the quarter. Allworth Financial LP's holdings in Western Digital were worth $5,751,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System increased its position in Western Digital by 64,424.3% in the 2nd quarter. California State Teachers Retirement System now owns 338,388,746 shares of the data storage provider's stock valued at $216,135,660,000 after acquiring an additional 337,864,310 shares during the period. Norges Bank acquired a new position in shares of Western Digital during the fourth quarter worth $788,729,000. Soroban Capital Partners LP grew its stake in shares of Western Digital by 1,926.3% in the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider's stock worth $195,882,000 after purchasing an additional 2,910,062 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Western Digital in the second quarter worth $1,602,927,000. Finally, Polar Capital Holdings Plc acquired a new stake in Western Digital in the third quarter valued at $221,800,000. 92.51% of the stock is currently owned by institutional investors.

Western Digital Stock Up 1.0%

Shares of WDC stock opened at $482.28 on Thursday. The firm has a 50 day moving average of $496.79 and a 200-day moving average of $450.83. The company has a market cap of $166.23 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 2.02 and a beta of 2.13. Western Digital Corporation has a 52 week low of $93.92 and a 52 week high of $799.87.

Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.31 by $0.25. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. Western Digital's quarterly revenue was up 43.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.66 EPS. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Analysts anticipate that Western Digital Corporation will post 19.65 earnings per share for the current year.

Western Digital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $0.60 annualized dividend and a yield of 0.1%. Western Digital's dividend payout ratio is presently 2.48%.

Analyst Ratings Changes

WDC has been the subject of several analyst reports. Melius Research set a $1,050.00 target price on Western Digital and gave the stock a "buy" rating in a research report on Monday, June 29th. Robert W. Baird set a $630.00 price target on Western Digital in a research report on Thursday, August 6th. Rosenblatt Securities decreased their price target on Western Digital from $900.00 to $800.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Cantor Fitzgerald raised their price objective on Western Digital from $660.00 to $900.00 and gave the stock an "overweight" rating in a research report on Monday, June 29th. Finally, Weiss Ratings lowered Western Digital from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Western Digital presently has a consensus rating of "Moderate Buy" and an average target price of $534.56.

Insider Activity at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 1,795 shares of Western Digital stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $459.87, for a total transaction of $825,466.65. Following the completion of the transaction, the insider owned 80,571 shares in the company, valued at approximately $37,052,185.77. The trade was a 2.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total value of $8,899,400.00. Following the sale, the chief executive officer owned 575,966 shares of the company's stock, valued at $256,287,591.02. This trade represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 25,437 shares of company stock valued at $11,461,345. 0.18% of the stock is owned by company insiders.

Western Digital News Summary

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

• Positive Sentiment: AI-driven storage demand remains a key growth catalyst. Rising data volumes from AI inference, agentic AI and other emerging workloads could support long-term demand for Western Digital’s data-center storage products. AI Data Explosion: Can WDC Become a Bigger Storage Winner?
• Positive Sentiment: Strong free cash flow supports shareholder returns. WDC entered fiscal 2027 with stronger cash generation and a net cash position, potentially enabling continued buybacks and dividend payments. The company recently declared a quarterly dividend of $0.15 per share. Can Western Digital's Strong FCF Sustain Buybacks and Dividends?
• Positive Sentiment: Recent operating performance has exceeded expectations. Western Digital’s latest reported quarter included adjusted earnings of $3.56 per share versus the $3.31 consensus estimate, while revenue rose 43.8% year over year to $3.75 billion. Fiscal first-quarter 2027 guidance of $3.85–$4.15 in EPS reinforces the bullish earnings narrative.
• Neutral Sentiment: Management’s Citi Global TMT Conference presentation is in focus. Investors are evaluating the company’s latest commentary on storage demand, AI exposure and fiscal 2027 prospects for additional clues about the sustainability of its growth. Western Digital Presents at Citi's 2026 Global TMT Conference
• Negative Sentiment: Valuation has become a concern. A separate analysis questions whether WDC is priced too aggressively after its substantial advance. With the stock trading at roughly 20 times earnings, further gains may depend on continued earnings growth and successful execution. Is Western Digital Priced Too High?
• Negative Sentiment: Insider selling adds a modest cautionary signal. Insider Vidyadhara Gubbi sold 1,795 shares and Cynthia Tregillis sold 432 shares. Both retained sizable holdings, and Tregillis’s transaction was made under a pre-arranged Rule 10b5-1 plan, reducing its significance as a bearish signal. Western Digital Insider Selling

About Western Digital

Western Digital Corporation NASDAQ: WDC develops, manufactures and sells data storage products and solutions for data centers, cloud service providers, enterprises, businesses and consumers. Its portfolio is centered on hard disk drives (HDDs), including high-capacity enterprise drives used in cloud and data center environments, as well as products for network-attached storage, surveillance and personal computing.

The company markets products under brands including Western Digital, WD, WD_BLACK and Ultrastar.

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