Focus Partners Advisor Solutions LLC Acquires 7,402 Shares of Western Digital Corporation $WDC

Key Points

• Focus Partners Advisor Solutions LLC increased its Western Digital stake by 72.1% in the fourth quarter, buying 7,402 additional shares and bringing its total holdings to 17,672 shares worth about $3.05 million.
• Western Digital continues to attract bullish analyst coverage, with firms like Evercore, Cantor Fitzgerald, and Mizuho raising price targets and maintaining positive ratings. The consensus view remains Moderate Buy despite recent share volatility.
• The company posted a strong latest quarter, with earnings of $2.72 per share and revenue of $3.34 billion, both ahead of estimates. Western Digital also raised its quarterly dividend to $0.15 per share from $0.13.

Focus Partners Advisor Solutions LLC grew its holdings in Western Digital Corporation (NASDAQ:WDC - Free Report) by 72.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,672 shares of the data storage provider's stock after purchasing an additional 7,402 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Western Digital were worth $3,045,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WDC. Rakuten Securities Inc. raised its holdings in shares of Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 407 shares in the last quarter. Avion Wealth raised its position in shares of Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider's stock worth $31,000 after acquiring an additional 113 shares in the last quarter. BOKF NA lifted its stake in shares of Western Digital by 6,700.0% during the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider's stock worth $33,000 after purchasing an additional 268 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Western Digital during the 3rd quarter worth $33,000. Finally, Ameriflex Group Inc. lifted its stake in shares of Western Digital by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 312 shares of the data storage provider's stock worth $37,000 after purchasing an additional 156 shares during the last quarter. Institutional investors own 92.51% of the company's stock.

Western Digital News Summary

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

• Positive Sentiment: Citi reportedly remains bullish on Western Digital, helping reinforce the view that analysts still see upside despite the recent pullback. Citi Remains Bullish on Western Digital Corporation (WDC) – Here’s Why
• Positive Sentiment: Recent commentary highlights strong AI-driven demand for memory and storage, with Mizuho raising targets on Western Digital and other memory names on expectations of a supply crunch through 2027. Memory Stocks Sandisk (SNDK), Seagate (STX), and Western Digital (WDC) Surge on AI-Driven Demand Forecast
• Positive Sentiment: Western Digital has also benefited from analyst optimism and recent price-target increases, including Wells Fargo and Citi, which suggests Wall Street remains constructive on fundamentals. Wells Fargo Raises Western Digital (WDC) Price Target by $75
• Neutral Sentiment: Western Digital has been trending heavily in investor searches, reflecting elevated attention and volatility rather than a clear new catalyst. Western Digital Corporation (WDC) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Memory and storage stocks, including Western Digital, are falling in tandem with Micron as macro uncertainty and a weaker risk backdrop hit the sector. Micron Sinks 6%, Western Digital Falls 5% but SanDisk Holds Steady
• Negative Sentiment: Quiver data also notes substantial insider selling over the past six months, which can weigh on sentiment even though it does not necessarily change near-term fundamentals. Western Digital Stock (WDC) Opinions on Strong Performance and Note Exchanges

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $517.72 on Wednesday. The business's 50-day moving average is $431.98 and its 200 day moving average is $300.90. Western Digital Corporation has a 1 year low of $54.60 and a 1 year high of $602.54. The firm has a market capitalization of $178.45 billion, a P/E ratio of 30.91 and a beta of 2.13.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its 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 company 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 firm's quarterly 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, analysts expect that Western Digital Corporation will post 9.57 EPS for the current year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.60 annualized dividend and a yield of 0.1%. This is an increase from Western Digital's previous quarterly dividend of $0.13. Western Digital's dividend payout ratio is currently 3.58%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WDC. Evercore restated an "outperform" rating and set a $575.00 price objective on shares of Western Digital in a research note on Tuesday, May 26th. Cantor Fitzgerald upped their price objective on Western Digital to $660.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Zacks Research upgraded Western Digital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. Mizuho upped their price objective on Western Digital from $550.00 to $685.00 and gave the stock an "outperform" rating in a research note on Monday. Finally, Sanford C. Bernstein upgraded Western Digital from a "market perform" rating to an "outperform" rating and set a $340.00 price objective for the company in a research note on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $433.29.

Insiders Place Their Bets

In related news, CEO Irving Tan sold 20,000 shares of the company's 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 transaction, the chief executive officer directly owned 598,150 shares of the company's stock, valued at $246,342,096. This represents a 3.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 29,322 shares of company stock valued at $12,768,550. 0.18% of the stock is currently owned by corporate insiders.

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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