QRG Capital Management Inc. Has $17.79 Million Stock Holdings in Western Digital Corporation $WDC

Key Points

• QRG Capital Management boosted its stake in Western Digital by 7.6% in the first quarter, holding 65,785 shares worth about $17.8 million.
• Wall Street remains broadly positive on the stock, with analysts assigning an average rating of “Moderate Buy” and an average price target of $493.52.
• Western Digital posted strong quarterly results, including $2.72 EPS on $3.34 billion in revenue, both ahead of expectations, and also raised its quarterly dividend to $0.15 per share.

QRG Capital Management Inc. increased its position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,785 shares of the data storage provider's stock after acquiring an additional 4,647 shares during the period. QRG Capital Management Inc.'s holdings in Western Digital were worth $17,794,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of WDC. Global Trust Asset Management LLC acquired a new stake in shares of Western Digital during the 1st quarter valued at about $47,000. Avion Wealth increased its holdings in Western Digital by 163.8% in the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider's stock worth $31,000 after buying an additional 113 shares during the last quarter. Roble Belko & Company Inc acquired a new position in Western Digital in the first quarter worth approximately $50,000. Swiss RE Ltd. bought a new position in Western Digital during the fourth quarter valued at approximately $32,000. Finally, Concord Wealth Partners acquired a new stake in Western Digital in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 92.51% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $400.00 target price on shares of Western Digital in a research report on Friday, May 1st. Fox Advisors downgraded shares of Western Digital from an "overweight" rating to an "equal weight" rating in a report on Monday, June 22nd. TD Cowen lifted 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. Bank of America upped their price objective on shares of Western Digital from $610.00 to $732.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Wall Street Zen raised shares of Western Digital from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $493.52.

More Western Digital News

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

• Positive Sentiment: Zacks still lists Western Digital as a top momentum stock for Q3 2026, pointing to continued investor interest in the memory chip theme and potential upside if the sector rebound continues.
• Positive Sentiment: MarketBeat noted that the memory rally may still be intact despite the broader semiconductor sell-off, which could support Western Digital if demand for memory chips remains strong.
• Positive Sentiment: A review of WD Red Plus 4TB highlighted the product as a reliable NAS hard drive, reinforcing Western Digital’s reputation in storage hardware.
• Neutral Sentiment: Western Digital was mentioned alongside other decliners as semiconductor stocks fell on fears that AI-driven chip demand may be cooling, suggesting the stock is being dragged by sector sentiment more than a fresh company-specific catalyst.
• Neutral Sentiment: Analyst-focused articles cited Western Digital’s bullish Wall Street view and strong earnings surprise history, but they did not introduce new information likely to move the stock immediately.
• Neutral Sentiment: Retail promotion news from Flipkart’s GOAT Sale included WD-branded storage devices, which is supportive for brand visibility but likely not material to the stock today.
• Negative Sentiment: The steep decline in Western Digital shares followed a broader semiconductor pullback, with investors apparently rotating out of high-flying AI and chip names.
• Negative Sentiment: Articles about Sandisk’s huge post-spin-off rally and the possibility of a stock split may remind investors of competition and relative performance within the storage space, but they mainly add narrative pressure rather than direct upside for WDC.

Western Digital Price Performance

Shares of Western Digital stock opened at $539.00 on Friday. Western Digital Corporation has a 12-month low of $63.67 and a 12-month high of $799.87. The stock has a 50 day moving average price of $539.71 and a two-hundred day moving average price of $359.19. The stock has a market capitalization of $185.78 billion, a P/E ratio of 32.18 and a beta of 2.11.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 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 company'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. Sell-side analysts anticipate that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were issued a $0.15 dividend. This is a boost from Western Digital's previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 5th. This represents a $0.60 annualized dividend and a yield of 0.1%. Western Digital's payout ratio is 3.58%.

Insider Activity

In other Western Digital news, insider Vidyadhara K. Gubbi sold 4,674 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the completion of the sale, the insider directly owned 90,041 shares in the company, valued at $39,905,270.79. This represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Irving Tan sold 20,000 shares of the firm's 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 sale, the chief executive officer directly owned 598,150 shares in the company, valued at approximately $246,342,096. This represents 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 quarter, insiders have sold 29,322 shares of company stock worth $12,768,550. 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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