Arizona State Retirement System Sells 7,411 Shares of Western Digital Corporation $WDC

Key Points

• Arizona State Retirement System trimmed its stake in Western Digital by 7.2% in Q4, selling 7,411 shares and retaining 95,602 shares valued at about $16.47 million.
• Western Digital recently beat earnings and revenue estimates (EPS $2.13 vs. $1.93 est.; revenue $3.02B) and has seen multiple analyst price‑target raises and bullish sentiment—average target ~$310.79, with some targets as high as $405—driven by strong AI/datacenter storage demand.
• Notable insider activity: insiders sold 92,711 shares worth roughly $24.3 million over the past 90 days (including large sales by Vidyadhara K. Gubbi and Matthew E. Massengill), a point investors may monitor amid stretched valuation and momentum risk.

Arizona State Retirement System decreased its holdings in Western Digital Corporation (NASDAQ:WDC - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,602 shares of the data storage provider's stock after selling 7,411 shares during the period. Arizona State Retirement System's holdings in Western Digital were worth $16,469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. ORG Partners LLC increased its holdings in shares of Western Digital by 124.5% in the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider's stock worth $25,000 after purchasing an additional 117 shares in the last quarter. Rakuten Securities Inc. increased its holdings in shares of Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock worth $27,000 after purchasing an additional 407 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of Western Digital by 551.4% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider's stock worth $29,000 after purchasing an additional 204 shares in the last quarter. Westfuller Advisors LLC bought a new stake in shares of Western Digital in the 3rd quarter worth $30,000. Finally, Avion Wealth increased its holdings in shares of Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider's stock worth $31,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 92.51% of the company's stock.

Western Digital Price Performance

NASDAQ WDC opened at $404.00 on Friday. The company has a market capitalization of $136.97 billion, a PE ratio of 40.52, a price-to-earnings-growth ratio of 0.85 and a beta of 1.77. 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 business's fifty day moving average is $304.49 and its 200 day moving average is $225.12. Western Digital Corporation has a fifty-two week low of $39.90 and a fifty-two week high of $416.37.

Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.20. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.93 billion. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.Western Digital's quarterly revenue was up 25.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.77 earnings per share. Sell-side analysts predict that Western Digital Corporation will post 8.52 earnings per share for the current year.

Western Digital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Thursday, March 5th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $0.50 dividend on an annualized basis and a yield of 0.1%. Western Digital's dividend payout ratio (DPR) is currently 5.02%.

Western Digital News Summary

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

• Positive Sentiment: Barclays bumped its price target to $405 and kept an Overweight rating, a high‑profile upgrade that likely triggered buy orders and helped lift sentiment. Barclays Raises its Price Target on Western Digital (WDC) to $405
• Positive Sentiment: Analyst upgrades and price‑target raises from multiple banks (JPMorgan, Morgan Stanley, BofA, etc.) alongside expectations for an earnings beat have amplified buying ahead of WDC’s late‑April print. Analysts lift price targets ahead of late‑April earnings
• Positive Sentiment: Market narrative: strong AI/datacenter storage demand is supporting HDD/SSD pricing and margins — a theme that has propelled WDC to large YTD gains as investors reposition into “AI infrastructure” names. Western Digital Stock Is Up 135% This Year – Here’s Why
• Positive Sentiment: Memory‑themed ETF inflows and sector momentum (Micron and peers rallying) are boosting demand for large‑cap exposure to storage, indirectly supporting WDC’s multiple. Memory ETF hits $1B AUM
• Neutral Sentiment: Western Digital published its FY2025 Sustainability Report highlighting energy and recycled‑content initiatives — positive for ESG positioning but with limited immediate revenue impact. Western Digital ESG Progress Puts Sustainability In Focus
• Neutral Sentiment: Insider transactions disclose small, pre‑arranged sales (Rule 10b5‑1) — routine and not signaling management panic, though often monitored by investors. Cynthia Tregillis Sells 363 Shares
• Negative Sentiment: Valuation and momentum risk: rapid gains to new 52‑week highs leave WDC’s multiple extended — a disappointment in AI demand or margins could trigger a sharp pullback. Is Western Digital Stock a Buy, Sell, or Hold After Hitting a 52‑Week High?
• Negative Sentiment: Competitive/structural risks: differences between NAND‑focused peers and HDD exposure mean longer‑term market dynamics could favor some competitors, potentially capping WDC’s longer‑term multiple. SanDisk vs. Western Digital

Analysts Set New Price Targets

A number of analysts have commented on WDC shares. The Goldman Sachs Group set a $250.00 target price on Western Digital in a report on Tuesday, February 3rd. TD Cowen lifted their target price on Western Digital from $200.00 to $325.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Morgan Stanley raised their price target on Western Digital to $380.00 and gave the stock an "overweight" rating in a research note on Monday, April 6th. JPMorgan Chase & Co. raised their price target on Western Digital from $320.00 to $400.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. Finally, New Street Research set a $250.00 price target on Western Digital in a research note on Tuesday, February 3rd. Twenty research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $310.79.

Insiders Place Their Bets

In other Western Digital news, insider Vidyadhara K. Gubbi sold 8,518 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 99,276 shares of the company's stock, valued at $25,347,148.32. This trade represents a 7.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew E. Massengill sold 36,926 shares of the firm's stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $260.43, for a total value of $9,616,638.18. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 92,711 shares of company stock valued at $24,300,404 in the last ninety days. Insiders own 0.18% of the company's stock.

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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