Foundations Investment Advisors LLC Invests $513,000 in Western Digital Corporation $WDC

Key Points

• Foundations Investment Advisors LLC opened a new position in Western Digital during the fourth quarter, buying 2,975 shares valued at about $513,000.
• Western Digital continues to draw heavy institutional interest, with 92.51% of the stock owned by hedge funds and other institutional investors. Several firms also increased or initiated positions in the company recently.
• Wall Street sentiment remains bullish: analysts have kept or raised price targets, and the company reported a strong quarter with EPS of $2.72 and revenue of $3.34 billion, while also raising its quarterly dividend to $0.15 per share.

Foundations Investment Advisors LLC purchased a new position in Western Digital Corporation (NASDAQ:WDC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,975 shares of the data storage provider's stock, valued at approximately $513,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Huntington National Bank lifted its stake in shares of Western Digital by 21.9% in the fourth quarter. Huntington National Bank now owns 2,793 shares of the data storage provider's stock worth $481,000 after buying an additional 501 shares in the last quarter. IPG Investment Advisors LLC acquired a new stake in Western Digital during the fourth quarter worth about $843,000. Kingsview Wealth Management LLC acquired a new stake in Western Digital during the fourth quarter worth about $481,000. Knights of Columbus Asset Advisors LLC increased its position in Western Digital by 3.9% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 8,310 shares of the data storage provider's stock worth $1,432,000 after purchasing an additional 313 shares during the last quarter. Finally, Williamson Legacy Group LLC acquired a new stake in Western Digital during the fourth quarter worth about $3,389,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on WDC. The Goldman Sachs Group restated a "neutral" rating and set a $400.00 price objective on shares of Western Digital in a research report on Friday, May 1st. Bank of America raised their price objective on shares of Western Digital to $495.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Evercore restated an "outperform" rating and set a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Rosenblatt Securities raised their price objective on shares of Western Digital from $340.00 to $500.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Finally, Susquehanna restated a "neutral" rating and set a $285.00 price objective on shares of Western Digital in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $416.63.

Western Digital Price Performance

Shares of Western Digital stock opened at $546.20 on Tuesday. The firm's fifty day simple moving average is $400.87 and its 200-day simple moving average is $284.43. The stock has a market capitalization of $188.26 billion, a price-to-earnings ratio of 32.61 and a beta of 2.13. Western Digital Corporation has a 12 month low of $51.17 and a 12 month high of $564.14.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $3.34 billion for the quarter, compared to analysts' expectations of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. Western Digital's revenue was up 45.5% compared to the same quarter last year. 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 anticipate that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

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

Key Western Digital News

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

• Positive Sentiment: Western Digital is benefiting from a strong AI memory supercycle, with memory and storage shares extending a parabolic rally as investors bet on sustained demand for data-center storage. Micron Rises 7%, Western Digital Climbs and SanDisk Climb 4% as Memory Stocks Extend Parabolic Run
• Positive Sentiment: Barclays raised its price target on Western Digital to $620 from $450 and kept an Overweight rating, citing strong memory and storage fundamentals. Barclays Raises its Price Target on Western Digital (WDC)
• Positive Sentiment: Evercore ISI also lifted its target on Western Digital to $575 from $410 while reiterating an Outperform rating, adding to bullish Wall Street sentiment. Here’s What Evercore Now Says About Western Digital Corp (WDC) Stock
• Positive Sentiment: Western Digital highlighted its role in AI infrastructure at Computex, framing storage as a core part of the AI data economy rather than just a secondary hardware category. WD at Computex 2026: AI Doesn't Just Run on Compute - It Runs on Data
• Neutral Sentiment: Several articles noted heavy bullish momentum and strong valuation expansion in memory stocks, but also warned that the move has become highly extended and vulnerable to a sharp reversal if demand expectations cool. SanDisk Stock Near $1,700: Two Risks That Could Break the Momentum
• Neutral Sentiment: One filing-related article said Situational Awareness LP sold its stake in Western Digital, but the piece did not suggest a broader change in the company’s fundamentals. Western Digital Corporation (WDC): Leopold Aschenbrenner Is Selling This Stock

Insider Buying and Selling

In other news, 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 transaction of $396,390.00. Following the transaction, the director directly owned 3,903 shares of the company's stock, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cynthia L. Tregillis sold 214 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $539.63, for a total value of $115,480.82. Following the completion of the transaction, the insider owned 117,157 shares of the company's stock, valued at $63,221,431.91. This trade represents a 0.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 54,405 shares of company stock valued at $18,575,428 over the last three months. Corporate insiders own 0.18% of the company's stock.

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.

Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Corporation (NASDAQ:WDC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.