Diversify Wealth Management LLC Acquires Shares of 4,675 Western Digital Corporation $WDC

Key Points

• Diversify Wealth Management LLC opened a new position in Western Digital, buying 4,675 shares worth about $1.265 million in the first quarter.
• Institutional ownership remains heavy, with hedge funds and other institutions holding 92.51% of Western Digital’s stock, while several other investors also increased or initiated positions recently.
• Analysts are broadly constructive on the stock: Western Digital has a Moderate Buy consensus rating and an average price target of $520.32, though insider selling has been notable over the past 90 days.

Diversify Wealth Management LLC purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,675 shares of the data storage provider's stock, valued at approximately $1,265,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Western Digital by 7.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider's stock worth $1,698,000 after acquiring an additional 3,019 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Western Digital by 229.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider's stock valued at $56,000 after acquiring an additional 967 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Western Digital in the second quarter worth about $307,000. Cresset Asset Management LLC purchased a new position in shares of Western Digital during the second quarter worth approximately $292,000. Finally, Federated Hermes Inc. increased its holdings in Western Digital by 55.3% during the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider's stock worth $152,000 after purchasing an additional 845 shares during the period. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $556.24, for a total value of $1,376,694.00. Following the completion of the sale, the insider owned 85,154 shares of the company's stock, valued at approximately $47,366,060.96. This trade represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce E. Kiddoo sold 750 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director directly owned 3,903 shares of the company's stock, valued at $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,322 shares of company stock valued at $12,768,550 over the last ninety days. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. UBS Group reissued a "neutral" rating and set a $560.00 target price on shares of Western Digital in a research report on Monday. Rosenblatt Securities upped their target price on Western Digital from $340.00 to $500.00 and gave the company a "buy" rating in a research report on Friday, May 1st. 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 report on Friday, May 1st. Evercore restated an "outperform" rating and issued a $575.00 price objective on shares of Western Digital in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $400.00 target price on shares of Western Digital in a research report on Friday, May 1st. 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 company's stock. According to MarketBeat, Western Digital has an average rating of "Moderate Buy" and a consensus target price of $520.32.

Trending Headlines about Western Digital

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

• Positive Sentiment: Some analysts remain constructive on Western Digital, with one report suggesting the stock could still have meaningful upside from current levels thanks to improving memory pricing and AI-driven demand. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here
• Positive Sentiment: Several market commentary pieces argue that Western Digital and other memory stocks may look attractive after the recent sell-off because of lower valuations, better supply-demand trends, and ongoing AI-related storage demand. Why You Must Buy These 4 Memory Stocks After the Recent Sell-Off
• Neutral Sentiment: Western Digital’s upcoming earnings preview is drawing attention, but no new company-specific results were reported in these articles. Western Digital's Quarterly Earnings Preview: What You Need to Know
• Negative Sentiment: Shares are being hit by broad profit-taking across memory stocks after a sharp rally this year, with traders locking in gains in Western Digital, Micron, SanDisk, and peers. SK Hynix Drops 5%, SanDisk Slides 6%, Western Digital Slips 4% as Traders Take Profits in Memory Stocks
• Negative Sentiment: Western Digital also fell after CXMT’s reported $10 billion IPO plans raised fears of a stronger new competitor entering the memory market, adding to concerns about future pricing and margins. Western Digital Stock Tumbles as CXMT Targets $10 Billion Shanghai IPO
• Negative Sentiment: Another market wrap noted that Western Digital was down sharply as the broader chip selloff weighed on the memory sector. Western Digital (WDC) Stock Dips While Market Gains: Key Facts

Western Digital Stock Performance

NASDAQ:WDC opened at $513.84 on Thursday. The stock has a market capitalization of $177.11 billion, a PE ratio of 30.68 and a beta of 2.11. Western Digital Corporation has a fifty-two week low of $65.79 and a fifty-two week high of $799.87. The company has a fifty day moving average of $560.89 and a two-hundred day moving average of $381.93.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.33. The company had revenue of $3.34 billion for the quarter, compared to analysts' expectations of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.Western Digital's revenue was up 45.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Research analysts forecast that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were given a dividend of $0.15 per share. The ex-dividend date was Friday, June 5th. This is a boost from Western Digital's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Western Digital's dividend payout ratio (DPR) is presently 3.58%.

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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