Hershey Financial Advisers LLC Invests $1.57 Million in Western Digital Corporation $WDC

Key Points

• Hershey Financial Advisers LLC opened a new position in Western Digital during the first quarter, buying 5,793 shares worth about $1.57 million. The stake represents roughly 1.4% of the firm’s holdings and is its 28th-largest position.
• Western Digital remains heavily owned by institutions, with hedge funds and other investors accounting for 92.51% of the stock. Recent filing activity also showed insider selling, including CEO Irving Tan and insider Cynthia L. Tregillis, both using pre-arranged trading plans.
• The company posted strong quarterly results, beating earnings and revenue expectations, and it recently raised its dividend from $0.12 to $0.15 per quarter. Analysts remain generally constructive, with several raising price targets and a consensus rating of Moderate Buy.

Hershey Financial Advisers LLC bought a new position in Western Digital Corporation (NASDAQ:WDC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,793 shares of the data storage provider's stock, valued at approximately $1,567,000. Western Digital accounts for approximately 1.4% of Hershey Financial Advisers LLC's holdings, making the stock its 28th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Western Digital by 7.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider's stock worth $1,698,000 after purchasing an additional 3,019 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Western Digital by 229.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider's stock worth $56,000 after purchasing an additional 967 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Western Digital during the 2nd quarter worth about $307,000. Cresset Asset Management LLC purchased a new stake in shares of Western Digital during the 2nd quarter worth about $292,000. Finally, Federated Hermes Inc. increased its position 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 in the last quarter. Institutional investors and hedge funds own 92.51% of the company's stock.

Insider Activity

In other news, insider Cynthia L. Tregillis sold 432 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $545.60, for a total transaction of $235,699.20. Following the completion of the sale, the insider directly owned 116,643 shares in the company, valued at $63,640,420.80. This trade represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $8,236,800.00. Following the sale, the chief executive officer directly owned 598,150 shares in the company, valued at approximately $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 29,322 shares of company stock worth $12,768,550. 0.18% of the stock is owned by corporate insiders.

Western Digital News Summary

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

• Positive Sentiment: New coverage says Western Digital is well positioned to benefit from global AI infrastructure growth, with rising demand for advanced memory and storage supporting a stronger long-term revenue outlook. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Another report highlighted Western Digital as one of two smaller AI storage names that could benefit from expanding data center demand, citing improving margins and earnings growth potential. Everyone's Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: A separate Zacks piece argues AI data growth is accelerating HDD demand and that Western Digital’s focused strategy could help it capture hyperscale storage opportunities. AI Data Growth is Exploding: Can Western Digital Keep Up?
• Neutral Sentiment: Several market wrap-ups noted high volatility in tech and momentum stocks, which is adding noise to trading in Western Digital and other memory names. The Tech Shakeout: Market Extremes & Gavin Baker's Bold Call
• Neutral Sentiment: Wall Street commentary also flagged Western Digital as part of a broader AI-memory trade, with analysts still generally constructive but market sentiment swinging sharply day to day. Which Storage Stock Is Best Positioned to Win the AI Memory War?
• Negative Sentiment: Multiple reports said Western Digital fell alongside SanDisk and Micron as investors took profits in semiconductor and memory stocks, reflecting sector-wide rotation rather than company-specific trouble. Nasdaq Slips as Chip Stocks Come Under Pressure
• Negative Sentiment: Western Digital also faced a post-rally pullback as traders reassessed how durable the AI-driven storage boom will be ahead of the company’s next earnings report and guidance. Why Western Digital (WDC) Stock Is Down Today

Western Digital Stock Performance

Western Digital stock opened at $477.22 on Friday. The firm has a market capitalization of $164.49 billion, a PE ratio of 28.49 and a beta of 2.11. Western Digital Corporation has a one year low of $66.04 and a one year high of $799.87. The stock's 50 day moving average price is $560.89 and its 200 day moving average price is $384.59.

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, beating analysts' consensus estimates of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter last year, the firm posted $1.36 earnings per share. The business's quarterly revenue was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, analysts forecast that Western Digital Corporation will post 9.61 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors 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 yield of 0.1%. The ex-dividend date of this dividend was Friday, June 5th. This is a positive change from Western Digital's previous quarterly dividend of $0.12. Western Digital's dividend payout ratio (DPR) is 3.58%.

Analysts Set New Price Targets

Several research analysts recently commented on WDC shares. Robert W. Baird raised their price target on shares of Western Digital from $310.00 to $450.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Rosenblatt Securities boosted their price objective on shares of Western Digital from $340.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Wall Street Zen raised shares of Western Digital from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Susquehanna raised their target price on shares of Western Digital from $360.00 to $500.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. Finally, Wells Fargo & Company lifted their target price on shares of Western Digital from $575.00 to $730.00 and gave the company an "overweight" rating in a report on Friday, July 10th. 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.com, Western Digital has an average rating of "Moderate Buy" and a consensus price target of $520.32.

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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