Kingsview Wealth Management LLC Invests $481,000 in Western Digital Corporation $WDC

Key Points

• Kingsview Wealth Management opened a new position in Western Digital during the fourth quarter, buying 2,791 shares worth about $481,000.
• Western Digital is seeing broad institutional support, with 92.51% of shares owned by institutional investors and hedge funds, and several other firms also adding to their stakes.
• The stock has been lifted by strong operating results and upbeat analyst sentiment: the company beat quarterly EPS and revenue estimates, raised its dividend, and Wall Street’s consensus rating remains Moderate Buy with a $424.33 price target.

Kingsview Wealth Management LLC bought a new position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,791 shares of the data storage provider's stock, valued at approximately $481,000.

Several other hedge funds have also added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC increased its position in Western Digital by 3.9% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 8,310 shares of the data storage provider's stock worth $1,432,000 after buying an additional 313 shares during the period. Williamson Legacy Group LLC bought a new stake in shares of Western Digital in the fourth quarter valued at about $3,389,000. Syverson Strege & Co bought a new stake in shares of Western Digital in the fourth quarter valued at about $227,000. Bellwether Advisors LLC acquired a new position in shares of Western Digital in the fourth quarter valued at about $3,057,000. Finally, Cary Street Partners Investment Advisory LLC bought a new position in Western Digital during the fourth quarter worth about $214,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital News Summary

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

• Positive Sentiment: Multiple articles highlighted Western Digital as a beneficiary of the AI storage supercycle, with demand for cloud computing, AI, IoT, and enterprise data storage expected to support continued growth. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
• Positive Sentiment: Western Digital also drew attention for its Computex 2026 messaging that AI infrastructure is fundamentally a data system, reinforcing the company’s role in AI-driven storage demand. WD at Computex 2026: AI Doesn't Just Run on Compute - It Runs on Data
• Positive Sentiment: Investors also reacted to Evercore ISI raising its price target on Western Digital to $575 from $410 while keeping an Outperform rating, signaling higher Wall Street confidence. Here’s What Evercore Now Says About Western Digital Corp (WDC) Stock
• Positive Sentiment: Several commentary pieces argued that the AI storage trade still has room to run, helping keep momentum in the stock and the broader memory/storage group. Western Digital: The AI Storage Trade Still Has Room To Run
• Neutral Sentiment: Western Digital presented at the Bank of America 2026 Global Technology Conference, which likely kept the company in focus but did not include a clear new catalyst in the headline. Western Digital Corporation (WDC) Presents at Bank of America 2026 Global Technology Conference Transcript
• Negative Sentiment: An insider sale by Vidyadhara K. Gubbi was disclosed, which can slightly temper enthusiasm even though the sale was small relative to the insider’s remaining stake. SEC filing for insider sale

Analyst Ratings Changes

Several brokerages have weighed in on WDC. Truist Financial set a $310.00 price objective on shares of Western Digital in a research note on Tuesday, February 3rd. Wall Street Zen raised shares of Western Digital from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Susquehanna reiterated a "neutral" rating and issued a $285.00 price target on shares of Western Digital in a research report on Friday, February 6th. Zacks Research upgraded Western Digital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. Finally, Wedbush reissued an "outperform" rating and set a $325.00 price target on shares of Western Digital in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $424.33.

Western Digital Trading Up 3.1%

Shares of Western Digital stock opened at $563.10 on Wednesday. The company has a 50 day moving average of $400.87 and a 200-day moving average of $284.43. Western Digital Corporation has a 1-year low of $51.88 and a 1-year high of $571.18. The company has a market cap of $194.09 billion, a PE ratio of 33.62 and a beta of 2.13.

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 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 business had revenue of $3.34 billion for the quarter, compared to analysts' expectations of $3.25 billion. During the same period last year, the firm posted $1.36 earnings per share. 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. Research analysts forecast 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 paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Friday, June 5th. This is a positive change from Western Digital's previous quarterly dividend of $0.13. Western Digital's dividend payout ratio is 2.99%.

Insiders Place Their Bets

In other news, CEO Irving Tan sold 20,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $411.84, for a total value of $8,236,800.00. Following the completion of the transaction, the chief executive officer owned 598,150 shares of the company's stock, valued at approximately $246,342,096. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 8,518 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $255.32, for a total transaction of $2,174,815.76. Following the transaction, the insider owned 99,276 shares of the company's stock, valued at approximately $25,347,148.32. This represents a 7.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 37,408 shares of company stock worth $14,707,666 over the last 90 days. 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.

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