HighPoint Advisor Group LLC Has $5.15 Million Holdings in Western Digital Corporation $WDC

Key Points

• HighPoint Advisor Group LLC increased its Western Digital stake by 302.6% in Q4, ending with 29,871 shares valued at about $5.15 million.
• Western Digital reported better-than-expected Q3 earnings and revenue, and it also raised its quarterly dividend by 20% to $0.15 per share.
• Sentiment around the stock remains bullish, with multiple analysts raising price targets and attributing much of the upside to AI-driven demand for data center storage.

HighPoint Advisor Group LLC boosted its stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 302.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,871 shares of the data storage provider's stock after purchasing an additional 22,451 shares during the quarter. HighPoint Advisor Group LLC's holdings in Western Digital were worth $5,146,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Avion Wealth raised its stake 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 valued at $31,000 after buying an additional 113 shares in the last quarter. ORG Partners LLC raised its stake in shares of Western Digital by 124.5% in the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider's stock valued at $25,000 after buying an additional 117 shares in the last quarter. Concord Wealth Partners acquired a new position in shares of Western Digital in the 4th quarter valued at $41,000. Cullen Frost Bankers Inc. raised its stake in shares of Western Digital by 551.4% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider's stock valued at $29,000 after buying an additional 204 shares in the last quarter. Finally, Westfuller Advisors LLC acquired a new position in shares of Western Digital in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 92.51% of the company's stock.

Key Headlines Impacting Western Digital

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

• Positive Sentiment: Western Digital reported better-than-expected Q3 results, with EPS of $2.72 versus $2.39 expected and revenue of $3.34 billion versus $3.25 billion estimated, while also boosting its dividend by 20%. Western Digital (WDC) Stock Soars to Record Peak on Stellar Q3 Results and Dividend Boost
• Positive Sentiment: Several reports said WDC is benefiting from surging AI infrastructure spending, which is increasing demand for high-capacity data center storage and memory chips. Western Digital rallies 7% amid AI surge in Micron and Sandisk
• Positive Sentiment: Analyst commentary highlighted Western Digital as a potential winner from continued hyperscaler AI spending, reinforcing the bullish memory-storage trade. Why These 3 High-Flying Memory & Storage Stocks Will Rise Further
• Neutral Sentiment: Short-interest data showed 0 shares reported as of May 11, which does not provide a meaningful signal for investors.
• Neutral Sentiment: Related coverage also noted strong momentum in SanDisk and the broader memory ETF, adding to sector enthusiasm rather than changing WDC-specific fundamentals. SanDisk's 4,000% Moonshot Just Made Its Parent The Underdog

Analyst Ratings Changes

A number of brokerages have recently issued reports on WDC. TD Cowen increased their price objective on shares of Western Digital from $325.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Western Digital from $320.00 to $400.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Rosenblatt Securities increased their price objective on shares of Western Digital from $340.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Zacks Research upgraded shares of Western Digital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley restated an "overweight" rating and issued a $488.00 price objective on shares of Western Digital in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Western Digital presently has a consensus rating of "Moderate Buy" and an average price target of $395.83.

Western Digital Stock Performance

WDC opened at $515.83 on Tuesday. The firm's 50-day simple moving average is $334.30 and its 200-day simple moving average is $247.47. Western Digital Corporation has a twelve month low of $46.40 and a twelve month high of $525.15. The firm has a market cap of $177.80 billion, a price-to-earnings ratio of 30.80 and a beta of 2.10.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the firm earned $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. As a group, sell-side analysts anticipate that Western Digital Corporation will post 9.57 EPS for the current fiscal year.

Western Digital Increases Dividend

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

Insider Transactions at Western Digital

In other news, insider Cynthia L. Tregillis sold 363 shares of the company's stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $377.09, for a total value of $136,883.67. Following the sale, the insider owned 120,023 shares of the company's stock, valued at approximately $45,259,473.07. This represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of 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 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. In the last quarter, insiders have sold 53,679 shares of company stock valued at $18,049,314. 0.18% of the stock is owned by insiders.

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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