Decker Retirement Planning Inc. Decreases Position in Western Digital Corporation $WDC

Key Points

• Decker Retirement Planning Inc. cut its Western Digital stake by 60.5% in Q1, selling 11,899 shares and ending with 7,754 shares valued at about $2.1 million.
• Analysts remain broadly bullish on WDC, with multiple firms raising targets and the stock carrying a consensus Moderate Buy rating and average price target of about $450.46.
• Western Digital reported strong quarterly results, beating EPS and revenue expectations, and also raised its quarterly dividend from $0.12 to $0.15 per share.

Decker Retirement Planning Inc. lowered its stake in Western Digital Corporation (NASDAQ:WDC - Free Report) by 60.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,754 shares of the data storage provider's stock after selling 11,899 shares during the quarter. Decker Retirement Planning Inc.'s holdings in Western Digital were worth $2,097,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of WDC. Rakuten Securities Inc. boosted its holdings in 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 acquiring an additional 407 shares during the period. Avion Wealth raised its stake 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 purchasing an additional 113 shares during the period. Swiss RE Ltd. purchased a new stake in shares of Western Digital during the fourth quarter valued at approximately $32,000. BOKF NA lifted its position in shares of 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 purchasing an additional 268 shares in the last quarter. Finally, JPL Wealth Management LLC acquired a new position in shares of Western Digital during the third quarter worth $33,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WDC has been the subject of several analyst reports. Sanford C. Bernstein upgraded shares of Western Digital from a "market perform" rating to an "outperform" rating and set a $340.00 target price for the company in a research note on Tuesday, March 31st. Robert W. Baird boosted their price objective on shares of Western Digital from $310.00 to $450.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Zacks Research upgraded shares of Western Digital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 6th. Evercore reissued an "outperform" rating and issued a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Finally, Rosenblatt Securities raised their target price on Western Digital from $340.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Western Digital presently has an average rating of "Moderate Buy" and an average target price of $450.46.

Insider Buying and Selling at Western Digital

In related 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 transaction of $235,699.20. Following the sale, the insider owned 116,643 shares in the company, valued at $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 is available through this hyperlink. 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 dated Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the transaction, the director directly owned 3,903 shares in the company, valued at $2,062,813.56. This represents a 16.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 29,322 shares of company stock valued at $12,768,550. Corporate insiders own 0.18% of the company's stock.

Western Digital Trading Up 4.9%

Shares of WDC opened at $675.39 on Friday. Western Digital Corporation has a 52 week low of $62.53 and a 52 week high of $799.87. The firm has a market cap of $232.79 billion, a price-to-earnings ratio of 40.32 and a beta of 2.13. The stock has a 50 day moving average of $513.57 and a 200-day moving average of $342.93.

Western Digital (NASDAQ:WDC - Get Free Report) last posted 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. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period in the prior year, the company posted $1.36 EPS. The business's revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, sell-side analysts predict that Western Digital Corporation will post 9.58 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. This is a positive change from Western Digital's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 5th. Western Digital's dividend payout ratio is currently 3.58%.

More Western Digital News

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

• Positive Sentiment: Micron’s strong quarter is being treated as a read-through for the entire memory/storage group, with investors betting that AI infrastructure demand will keep Western Digital’s business environment favorable. Western Digital Stock And Seagate Get Boost From Big Micron Earnings Beat
• Positive Sentiment: Reports highlighted that AI-related memory demand is outpacing supply, which could support better pricing and margins for Western Digital if current trends continue. AI boom keeps memory chip makers in sweet spot, says expert
• Positive Sentiment: Analysts and market commentators said Micron’s results helped “justify elevated valuations” across memory names, fueling a sector-wide rally that included Western Digital. Sandisk, Western Digital, and others soar as Micron results 'justify elevated valuations'
• Neutral Sentiment: Technical commentary noted a hammer pattern and improving earnings estimate revisions for WDC, which may be supporting bullish sentiment but is not a fundamental catalyst by itself. Here's Why Western Digital (WDC) Is a Great 'Buy the Bottom' Stock Now

Western Digital 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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