Spartan Wealth Advisory Services LLC Purchases New Position in Western Digital Corporation $WDC

Key Points

• Spartan Wealth Advisory Services LLC opened a new position in Western Digital in Q1, buying 128,061 shares worth about $34.6 million. The stake now represents roughly 3.0% of its portfolio and is its 8th-largest holding.
• Western Digital continues to attract strong institutional interest, with hedge funds and other investors making notable additions and institutions owning 92.51% of the stock overall.
• Analysts remain broadly constructive on the name amid AI-driven storage demand: several firms raised price targets, and the consensus rating is Moderate Buy with an average target of $520.32.

Spartan Wealth Advisory Services LLC acquired a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 128,061 shares of the data storage provider's stock, valued at approximately $34,639,000. Western Digital accounts for approximately 3.0% of Spartan Wealth Advisory Services LLC's investment portfolio, making the stock its 8th biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rakuten Securities Inc. grew its stake in shares of Western Digital by 4,070.0% in the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock valued at $27,000 after buying an additional 407 shares in the last quarter. Avion Wealth lifted its position in Western Digital by 163.8% during the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider's stock worth $31,000 after acquiring an additional 113 shares in the last quarter. Swiss RE Ltd. acquired a new position in Western Digital during the 4th quarter worth approximately $32,000. BOKF NA boosted its holdings in Western Digital by 6,700.0% in the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider's stock worth $33,000 after acquiring an additional 268 shares during the period. Finally, JPL Wealth Management LLC purchased a new position in Western Digital in the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 92.51% of the company's stock.

More Western Digital News

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Western Digital from $310.00 to $450.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Rosenblatt Securities upped their target price 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. Citigroup raised their price target on shares of Western Digital from $685.00 to $800.00 and gave the company a "buy" rating in a report on Monday, July 13th. Jefferies Financial Group set a $575.00 price target on shares of Western Digital in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $400.00 price objective on shares of Western Digital in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $520.32.

Western Digital Stock Up 2.2%

Shares of NASDAQ:WDC opened at $477.22 on Friday. The company has a market cap of $164.49 billion, a PE ratio of 28.49 and a beta of 2.11. The company's 50-day moving average price is $560.89 and its 200 day moving average price is $384.59. Western Digital Corporation has a fifty-two week low of $66.04 and a fifty-two week high of $799.87.

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 (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 firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same period in the previous year, the business posted $1.36 EPS. Western Digital's 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. As a group, equities analysts anticipate that Western Digital Corporation will post 9.61 EPS for the current year.

Western Digital Increases Dividend

The firm also recently disclosed 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 positive change from Western Digital's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Western Digital's dividend payout ratio is currently 3.58%.

Insiders Place Their Bets

In other Western Digital news, insider Vidyadhara K. Gubbi sold 2,475 shares of the business's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the completion of the transaction, the insider owned 85,154 shares in the company, valued at approximately $47,366,060.96. The trade was a 2.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $545.60, for a total value of $235,699.20. Following the completion of the transaction, the insider directly owned 116,643 shares of the company's stock, valued at approximately $63,640,420.80. The trade was a 0.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,322 shares of company stock valued at $12,768,550 in the last quarter. 0.18% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.