Citizens Financial Group Inc. RI Has $1.99 Million Holdings in Western Digital Corporation $WDC

Citizens Financial Group Inc. RI raised its holdings in Western Digital Corporation (NASDAQ:WDC - Free Report) by 38.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,358 shares of the data storage provider's stock after acquiring an additional 2,037 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Western Digital were worth $1,990,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Western Digital in the 4th quarter valued at $788,729,000. Fred Alger Management LLC raised its holdings in shares of Western Digital by 4,923.9% during the third quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider's stock worth $409,049,000 after acquiring an additional 3,339,225 shares during the period. Soroban Capital Partners LP raised its holdings in shares of Western Digital by 1,926.3% during 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 acquiring an additional 2,910,062 shares during the period. Polar Capital Holdings Plc bought a new stake in Western Digital in the 3rd quarter valued at $221,800,000. Finally, National Pension Service increased its holdings in Western Digital by 267.6% during the 4th quarter. National Pension Service now owns 1,691,659 shares of the data storage provider's stock worth $291,422,000 after purchasing an additional 1,231,477 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on WDC. Mizuho boosted their target price on Western Digital from $550.00 to $685.00 and gave the company an "outperform" rating in a research note on Monday, June 8th. TD Cowen raised their price target on shares of Western Digital from $325.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Evercore reiterated an "outperform" rating and issued a $575.00 price objective on shares of Western Digital in a report on Tuesday, May 26th. UBS Group reissued a "neutral" rating and issued a $560.00 price objective on shares of Western Digital in a research report on Monday. Finally, Citigroup increased their target price on shares of Western Digital from $685.00 to $800.00 and gave the stock a "buy" rating in a report on Monday. Two research 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, Western Digital currently has an average rating of "Moderate Buy" and an average target price of $520.32.

Insider Activity

In other news, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction dated 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 owned 116,643 shares of the company's stock, valued at approximately $63,640,420.80. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director owned 3,903 shares in the company, valued at $2,062,813.56. This represents a 16.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 29,322 shares of company stock worth $12,768,550. Insiders own 0.18% of the company's stock.

Trending Headlines about Western Digital

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

• Negative Sentiment: WDC slid in sympathy with the memory-chip sector after SK Hynix’s steep decline reignited concerns about valuations and near-term earnings in AI-related memory stocks. Western Digital Stock Drops: Why an Aggressive SK Hynix Reversal Is Shaking Up the Chip Sector
• Negative Sentiment: The broader group also weakened after reports that SK Hynix’s weak profit forecast and post-IPO reversal triggered selling across chip and storage names, including Western Digital. Micron, SanDisk, Western Digital Fall 6% as SK Hynix's Weak Outlook Rattles Memory Stocks
• Negative Sentiment: Another report said WDC was down in pre-market trading as investors dumped memory-chip stocks amid sector-wide weakness and rising geopolitical tension. Why Is Western Digital Stock (WDC) Falling in Pre-Market Today, 7/13/26?
• Negative Sentiment: Market commentary also noted that global chip stocks were under pressure as investors reconsidered the sustainability of aggressive AI spending and related valuations. Intel, AMD, Sandisk, and More Stocks That Explain Today’s Market
• Neutral Sentiment: Western Digital also announced it will report fourth-quarter and fiscal 2026 results on August 5, which keeps investor attention focused on upcoming earnings but does not by itself change the near-term trading setup. WD to Announce Fourth Quarter and Fiscal Year 2026 Financial Results on August 5, 2026
• Positive Sentiment: Despite the selloff, some analysts remain constructive, citing strong demand and tight HDD supply as reasons Western Digital could still have upside if fundamentals hold. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here

Western Digital Price Performance

Shares of WDC opened at $555.55 on Tuesday. The company's 50-day moving average is $558.32 and its 200-day moving average is $376.88. The firm has a market capitalization of $191.49 billion, a PE ratio of 33.17 and a beta of 2.11. Western Digital Corporation has a fifty-two week low of $65.24 and a fifty-two week high of $799.87.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings results 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 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 quarterly revenue was up 45.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Analysts predict that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Friday, June 5th. This is a boost from Western Digital's previous quarterly dividend of $0.12. Western Digital's dividend payout ratio is presently 3.58%.

About Western Digital

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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