Calamos Wealth Management LLC Sells 60,789 Shares of Western Digital Corporation $WDC

Key Points

• Calamos Wealth Management cut its Western Digital stake by 98.6% in the third quarter, selling 60,789 shares and retaining 886 shares valued at about $403,000.
• Western Digital reported quarterly EPS of $4.64, above the $4.11 consensus, while revenue rose 55.5% year over year to $4.38 billion. The company also increased its quarterly dividend from $0.15 to $0.175 per share.
• Investor outlook is mixed: analysts remain broadly positive, but concerns that data-center policy restrictions could slow AI-related storage demand have contributed to volatility.

Calamos Wealth Management LLC lessened its holdings in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 98.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 886 shares of the data storage provider's stock after selling 60,789 shares during the quarter. Calamos Wealth Management LLC's holdings in Western Digital were worth $403,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Handelsbanken Fonder AB raised its stake in Western Digital by 71.4% in the second quarter. Handelsbanken Fonder AB now owns 230,578 shares of the data storage provider's stock valued at $147,275,000 after purchasing an additional 96,078 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in Western Digital in the 2nd quarter worth approximately $19,694,000. NewEdge Wealth LLC purchased a new position in Western Digital in the 2nd quarter worth approximately $14,466,000. OneAscent Financial Services LLC purchased a new position in Western Digital in the 2nd quarter worth approximately $1,599,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of Western Digital in the 2nd quarter worth $8,307,000. Institutional investors 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: Storage and memory stocks recovered as investors reassessed fears that election-related policy changes would derail AI investment. Strategists say the AI buildout is still expected to continue, though potentially on a longer timeline. Western Digital Stock Rebounds as Wall Street Bets AI Storage Demand Outlasts Election Rout
• Positive Sentiment: Fundamental commentary highlights stronger pricing, demand for higher-capacity hard drives, and operational efficiencies as drivers of Western Digital’s gross-margin expansion. Zacks Research also upgraded the stock from “hold” to “strong-buy.” Western Digital's Gross Margin Momentum: How Long Can It Last?
• Neutral Sentiment: Analyst sentiment remains broadly supportive, with a reported consensus Buy rating and average price target near $589. However, one valuation estimate was recently reduced from $650.67 to $613.38, reflecting a reassessment of HDD strength, spending plans, and future supply. Nasdaq Suffers Worst AI Panic in Years as Nvidia, SanDisk, and Western Digital Sink Western Digital Stock Sees Fair Value Cut
• Negative Sentiment: Investors are concerned that proposed federal oversight, permitting restrictions, or caps on new data centers could slow AI infrastructure spending—an important source of expected storage demand. That concern drove a sharp selloff Thursday before the reported rebound. Why Are Western Digital Shares Falling on AI Data Center Policy Risk?

Analyst Ratings Changes

WDC has been the topic of several research reports. Zacks Research upgraded shares of Western Digital from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, November 3rd. Bank of America upped their target price on shares of Western Digital from $720.00 to $800.00 and gave the stock a "buy" rating in a research report on Wednesday, October 21st. TD Cowen cut their target price on shares of Western Digital from $540.00 to $430.00 and set a "buy" rating for the company in a research report on Friday, October 23rd. Citigroup reduced their target price on Western Digital from $740.00 to $660.00 and set a "buy" rating on the stock in a research note on Friday, October 23rd. Finally, Rosenblatt Securities lowered their price target on Western Digital from $800.00 to $650.00 and set a "buy" rating on the stock in a research report on Friday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $591.04.

Western Digital Stock Performance

WDC opened at $263.78 on Monday. The company has a market cap of $98.74 billion, a P/E ratio of 10.24, a P/E/G ratio of 0.93 and a beta of 2.27. The business's 50-day moving average price is $406.75 and its 200-day moving average price is $418.97. Western Digital Corporation has a 12 month low of $132.43 and a 12 month high of $799.87.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The data storage provider reported $4.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $0.53. Western Digital had a return on equity of 55.62% and a net margin of 69.20%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the company earned $1.78 EPS. Western Digital's revenue for the quarter was up 55.5% compared to the same quarter last year. Equities research analysts forecast that Western Digital Corporation will post 23.62 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.1750 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Western Digital's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, December 4th. Western Digital's payout ratio is currently 2.72%.

Insider Activity

In other Western Digital news, insider Vidyadhara K. Gubbi sold 1,795 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $459.87, for a total transaction of $825,466.65. Following the completion of the sale, the insider owned 80,571 shares of the company's stock, valued at $37,052,185.77. This represents a 2.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Cynthia L. Tregillis sold 807 shares of the firm's stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $380.00, for a total transaction of $306,660.00. Following the completion of the sale, the insider directly owned 108,928 shares in the company, valued at approximately $41,392,640. This trade represents a 0.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 25,436 shares of company stock valued at $11,340,064. 0.20% of the stock is currently owned by company insiders.

Western Digital Profile

Western Digital Corporation NASDAQ: WDC develops and supplies hard disk drives (HDDs) and related data-storage products. Its drives serve data centers and cloud providers, as well as businesses and consumers who need storage for computers, network-attached storage systems, surveillance and other applications. Its product brands include WD and Ultrastar.

Founded in 1970, the company began as an electronics and semiconductor business before expanding into data storage. In February 2025, Western Digital completed the separation of its flash-memory business into the independently traded SanDisk Corporation, leaving Western Digital focused on HDDs.

Western Digital serves customers around the world.

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