Sequoia Financial Advisors LLC Buys 6,694 Shares of Western Digital Corporation $WDC

Key Points

• Sequoia Financial Advisors LLC nearly doubled its Western Digital stake in the fourth quarter, buying an additional 6,694 shares and bringing its total holdings to 13,649 shares valued at about $2.35 million.
• Western Digital reported a strong quarter, beating earnings and revenue estimates with EPS of $2.72 on $3.34 billion in revenue, and it also raised its quarterly dividend to $0.15 per share.
• Sentiment around the stock remains positive, with several analysts lifting price targets and coverage pointing to Western Digital as a beneficiary of AI-driven memory and data-center storage demand.

Sequoia Financial Advisors LLC raised its stake in Western Digital Corporation (NASDAQ:WDC - Free Report) by 96.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,649 shares of the data storage provider's stock after purchasing an additional 6,694 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Western Digital were worth $2,351,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avion Wealth lifted its position in Western Digital by 163.8% in the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider's stock valued at $31,000 after purchasing an additional 113 shares during the last quarter. ORG Partners LLC lifted its position in Western Digital by 124.5% in the third quarter. ORG Partners LLC now owns 211 shares of the data storage provider's stock valued at $25,000 after purchasing an additional 117 shares during the last quarter. Concord Wealth Partners purchased a new position in Western Digital during the 4th quarter valued at about $41,000. Cullen Frost Bankers Inc. increased its holdings in Western Digital by 551.4% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider's stock valued at $29,000 after purchasing an additional 204 shares during the period. Finally, Westfuller Advisors LLC purchased a new position in Western Digital during the 3rd quarter valued at about $30,000. Institutional investors own 92.51% of the company's stock.

Western Digital Stock Performance

Western Digital stock opened at $480.09 on Monday. The stock's 50 day simple moving average is $325.84 and its two-hundred day simple moving average is $242.16. The stock has a market cap of $165.48 billion, a price-to-earnings ratio of 28.66 and a beta of 2.10. Western Digital Corporation has a fifty-two week low of $43.88 and a fifty-two week high of $483.87.

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 for the quarter, beating the consensus estimate of $2.39 by $0.33. The business had revenue of $3.34 billion for the quarter, compared to analysts' expectations of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business's revenue was up 45.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, analysts predict that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a 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 presently 2.99%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WDC. Susquehanna restated a "neutral" rating and set a $285.00 price target on shares of Western Digital in a report on Friday, February 6th. The Goldman Sachs Group restated a "neutral" rating and set a $400.00 price target on shares of Western Digital in a report on Friday, May 1st. Barclays boosted their price target on Western Digital from $405.00 to $450.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Weiss Ratings restated a "buy (b-)" rating on shares of Western Digital in a report on Friday, May 1st. Finally, Robert W. Baird boosted their price target on Western Digital from $310.00 to $450.00 and gave the company an "outperform" rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $395.83.

Key Western Digital News

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

• Positive Sentiment: Wall Street analysts remain upbeat on Western Digital, with firms lifting price targets and Zacks upgrading the stock to Strong Buy, signaling rising confidence in demand trends and earnings momentum. Zacks Research upgrade
• Positive Sentiment: Coverage is highlighting Western Digital as a beneficiary of the AI memory and data-center storage supercycle, with demand for high-capacity storage solutions expected to stay elevated. Motley Fool article
• Positive Sentiment: The company’s recent earnings beat, raised guidance, and multiple target increases from analysts continue to support the stock’s sharp year-to-date gain and keep momentum investors engaged. Yahoo Finance article
• Neutral Sentiment: Western Digital also announced progress on simplifying its structure by unwinding its remaining Sandisk stake through share swaps and future distributions, which may help investors better value WDC as a more focused storage pure play. Yahoo Finance share swap article

Insider Buying and Selling at Western Digital

In other Western Digital news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 598,150 shares of the company's stock, valued at approximately $246,342,096. The trade was a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 363 shares of Western Digital stock in a transaction that occurred on 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 directly owned 120,023 shares in the company, valued at approximately $45,259,473.07. The trade was a 0.30% 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. In the last three months, insiders have sold 53,679 shares of company stock valued at $18,049,314. 0.18% of the stock is currently owned by corporate 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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