Florida Financial Advisors LLC Acquires Shares of 9,853 Western Digital Corporation $WDC

Key Points

• Florida Financial Advisors LLC disclosed a new position in Western Digital, buying 9,853 shares worth about $1.695 million in the fourth quarter.
• Western Digital reported strong quarterly results, with EPS of $2.72 beating estimates and revenue of $3.34 billion topping forecasts; it also raised Q4 2026 guidance to $3.10–$3.40 EPS.
• The company increased its quarterly dividend to $0.15 per share from $0.13, while analysts remain broadly positive with a consensus rating of Moderate Buy and a consensus price target of $413.50.

Florida Financial Advisors LLC bought a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,853 shares of the data storage provider's stock, valued at approximately $1,695,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WDC. WCM Investment Management LLC purchased a new stake in shares of Western Digital during the 3rd quarter worth approximately $791,317,000. Norges Bank bought a new position in shares of Western Digital during the 4th quarter worth $788,729,000. Fred Alger Management LLC grew its stake in shares of Western Digital by 4,923.9% during the 3rd 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 grew its stake in shares of Western Digital by 1,926.3% during the 2nd 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. Finally, Polar Capital Holdings Plc bought a new position in shares of Western Digital during the 3rd quarter worth $221,800,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Stock Performance

Shares of WDC opened at $531.21 on Monday. The company has a market cap of $183.10 billion, a PE ratio of 31.71 and a beta of 2.13. The stock has a 50-day moving average price of $396.29 and a 200-day moving average price of $281.78. Western Digital Corporation has a 12-month low of $51.17 and a 12-month high of $553.50.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.39 by $0.33. The firm 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 company's revenue for the quarter was up 45.5% on a year-over-year basis. During the same quarter last year, the company posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, analysts predict that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be given a dividend of $0.15 per share. This is a boost from Western Digital's previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital's dividend payout ratio is 2.99%.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Western Digital is benefiting from broad strength across memory and storage stocks, with investors betting that AI infrastructure demand will keep pricing and demand elevated for HDDs and SSDs. Not Just Micron: Memory Melt-Up Pulls SanDisk Up 8%, Western Digital Up 10%
• Positive Sentiment: Coverage points to continued gross margin improvement, with Q3 gross margin jumping to 50.5% and Q4 guidance calling for 51%-52%, helped by higher-capacity drives, better pricing, and cost controls. Can Western Digital Deliver Continued Gross Margin Improvement?
• Positive Sentiment: The company appointed former Nvidia executive Manuvir Das to its board, reinforcing the view that Western Digital is positioning itself more directly around AI and data-center growth opportunities. WD Appoints Manuvir Das to Board of Directors
• Positive Sentiment: Recent commentary also highlighted Western Digital as underappreciated relative to peers, with hard disk drives still seen as critical to AI storage infrastructure. Western Digital Is Making the Right Moves Amid Fierce Momentum for Memory Stocks
• Neutral Sentiment: One analyst piece argued Western Digital stacks up poorly versus peers like Micron, which could temper enthusiasm even as the broader sector remains strong. Western Digital Stacks Up Poorly To Peers Like Micron, Don't Buy Here
• Neutral Sentiment: An insider sale by Cynthia Tregillis was disclosed, but it was small and made under a pre-arranged 10b5-1 plan, so it does not appear to be a major warning sign. SEC filing

Wall Street Analysts Forecast Growth

WDC has been the subject of several research reports. Citigroup increased their price target on Western Digital from $405.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Truist Financial set a $310.00 price target on Western Digital in a research note on Tuesday, February 3rd. Weiss Ratings upgraded Western Digital from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 15th. Robert W. Baird increased their price target on Western Digital from $310.00 to $450.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. increased 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. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Western Digital currently has a consensus rating of "Moderate Buy" and a consensus price target of $413.50.

Insiders Place Their Bets

In other news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the sale, the chief executive officer owned 598,150 shares in the company, valued at approximately $246,342,096. This trade represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 214 shares of Western Digital stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $539.63, for a total value of $115,480.82. Following the sale, the insider owned 117,157 shares of the company's stock, valued at approximately $63,221,431.91. This trade represents a 0.18% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 54,405 shares of company stock worth $18,575,428. Insiders own 0.18% of the company's stock.

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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