Western Digital Corporation $WDC Shares Acquired by Vestcor Inc

Key Points

• Vestcor Inc increased its stake in Western Digital by 52.6% in the fourth quarter, buying 3,388 more shares and bringing its total holding to 9,834 shares valued at about $1.69 million.
• Western Digital has been riding strong AI-driven demand and upbeat analyst sentiment, with recent coverage highlighting new AI-focused storage technologies and several firms raising price targets. Citigroup notably lifted its target to $685 and reiterated a buy rating.
• The company reported better-than-expected quarterly results, beating earnings and revenue estimates and issuing Q4 2026 guidance of $3.10 to $3.40 EPS. Western Digital also raised its quarterly dividend from $0.13 to $0.15 per share.

Vestcor Inc lifted its stake in Western Digital Corporation (NASDAQ:WDC - Free Report) by 52.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,834 shares of the data storage provider's stock after purchasing an additional 3,388 shares during the period. Vestcor Inc's holdings in Western Digital were worth $1,694,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Rakuten Securities Inc. boosted its stake in shares of Western Digital by 4,070.0% in the 2nd 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 during the period. Avion Wealth increased its stake in shares of Western Digital by 163.8% during 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 period. BOKF NA raised its holdings in Western Digital by 6,700.0% in the third quarter. BOKF NA now owns 272 shares of the data storage provider's stock valued at $33,000 after acquiring an additional 268 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in Western Digital in the third quarter valued at approximately $33,000. Finally, Ameriflex Group Inc. lifted its stake in Western Digital by 100.0% in the third quarter. Ameriflex Group Inc. now owns 312 shares of the data storage provider's stock worth $37,000 after acquiring an additional 156 shares during the last quarter. Hedge funds and other institutional investors 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 is benefiting from strong investor enthusiasm around AI-driven storage demand, with recent articles highlighting new AI-focused storage technologies, improved analyst valuation estimates, and expectations for firmer HDD and memory pricing. Why Western Digital (WDC) Is Up 12.0% After Unveiling New AI‑Focused Storage Technologies
• Positive Sentiment: Citigroup reportedly raised its price target on Western Digital by 37%, helping push the stock to fresh highs as investors positioned ahead of the company’s Computex-related AI announcements. Western Digital (WDC) Hits All-Time High as Citi Hikes PT by 37%
• Positive Sentiment: The company has also been cleaning up its balance sheet and making more AI-related moves, which some investors view as supporting additional upside. Western Digital Could Be Halfway Through Retiring 2028 Convertible Debt. What It Means for the Stock.
• Neutral Sentiment: Western Digital’s recent earnings were strong, with the company beating estimates and issuing upbeat guidance, but the stock still saw a short-term dip as some traders appeared to take profits after a big run. Western Digital (WDC) Stock Dips 3% Despite Strong Earnings—Should Investors Buy the Pullback?
• Neutral Sentiment: Recent coverage also notes that the broader market and semiconductor stocks have been choppy, with Broadcom’s cautious AI outlook pressuring memory names like Western Digital even after the company’s strong news flow. MU, SNDK, WDC: Memory Stocks Dip As Broadcom’s Forecast Dampens AI Sentiment, Retail Turns Buyer
• Negative Sentiment: One near-term headwind is profit-taking after Western Digital’s rapid run-up to all-time highs, which has led to some price weakness despite the longer-term bullish narrative. Western Digital (WDC) Stock Dips While Market Gains: Key Facts

Western Digital Stock Performance

Shares of WDC stock opened at $511.72 on Monday. The stock's 50-day moving average is $422.06 and its two-hundred day moving average is $295.71. Western Digital Corporation has a 1 year low of $54.60 and a 1 year high of $602.54. The firm has a market cap of $176.38 billion, a price-to-earnings ratio of 30.55 and a beta of 2.13.

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

Western Digital Increases Dividend

The firm 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 dividend on an annualized basis 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 dividend payout ratio is presently 3.58%.

Analyst Ratings Changes

A number of equities research analysts have commented on WDC shares. Jefferies Financial Group set a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Citigroup increased their target price on Western Digital from $500.00 to $685.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Bank of America lifted their price target on Western Digital to $495.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Mizuho set a $470.00 price objective on Western Digital in a research report on Friday, May 1st. Finally, Rosenblatt Securities raised their target price on Western Digital from $340.00 to $500.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $424.33.

Insider Buying and Selling at Western Digital

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the transaction, the chief executive officer directly owned 598,150 shares of the company's stock, valued at approximately $246,342,096. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the transaction, the director owned 3,903 shares in the company, valued at approximately $2,062,813.56. This represents a 16.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 29,322 shares of company stock valued at $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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