Western Digital Corporation $WDC Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. increased its stake in Western Digital Corporation (NASDAQ:WDC - Free Report) by 188.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,138 shares of the data storage provider's stock after purchasing an additional 39,926 shares during the period. QRG Capital Management Inc.'s holdings in Western Digital were worth $10,532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. ORG Partners LLC lifted its stake in shares of Western Digital by 124.5% during the third quarter. ORG Partners LLC now owns 211 shares of the data storage provider's stock worth $25,000 after buying an additional 117 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Western Digital by 4,070.0% during the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock worth $27,000 after buying an additional 407 shares during the period. Cullen Frost Bankers Inc. lifted its stake in shares of Western Digital by 551.4% during the third quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider's stock worth $29,000 after buying an additional 204 shares during the period. Westfuller Advisors LLC acquired a new stake in Western Digital during the 3rd quarter worth about $30,000. Finally, 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 during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WDC has been the subject of a number of research reports. Barclays lifted their price target on Western Digital from $405.00 to $450.00 and gave the stock an "overweight" rating in a research report on Friday. TD Cowen lifted their price target on Western Digital from $325.00 to $500.00 and gave the stock a "buy" rating in a research report on Friday. UBS Group lifted their price target on Western Digital from $350.00 to $375.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $400.00 price target on shares of Western Digital in a research report on Friday. Finally, Zacks Research cut shares of Western Digital from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Nineteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $395.83.

Insider Activity

In related news, insider Cynthia L. Tregillis sold 9,324 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $268.27, for a total value of $2,501,349.48. Following the completion of the transaction, the insider directly owned 121,682 shares in the company, valued at $32,643,630.14. The trade was a 7.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Irving Tan sold 20,000 shares of the business'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 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 97,385 shares of company stock valued at $29,499,874. 0.18% of the stock is currently owned by company insiders.

Western Digital Stock Up 5.2%

Shares of WDC stock opened at $465.26 on Wednesday. The stock has a market cap of $160.37 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 0.91 and a beta of 2.10. The business has a 50-day simple moving average of $317.92 and a 200-day simple moving average of $237.27. Western Digital Corporation has a 52-week low of $43.60 and a 52-week high of $480.11.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business had revenue of $3.34 billion during the quarter, compared to analysts' expectations of $3.25 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The company's revenue for the quarter was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Sell-side analysts anticipate that Western Digital Corporation will post 8.68 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be paid a $0.15 dividend. The ex-dividend date is Friday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Western Digital's previous quarterly dividend of $0.13. Western Digital's dividend payout ratio (DPR) is presently 2.99%.

Key Western Digital News

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

• Positive Sentiment: Q3 beat and upbeat guidance — WDC reported a Q3 EPS beat and raised its Q4 FY2026 EPS range, showing strong margin expansion and accelerating revenue tied to AI/data-center demand. Western Digital Stock Surges After Q3 Beat
• Positive Sentiment: Analyst bullishness & higher price targets — Multiple outlets and analysts have lifted targets (including big calls toward the $500+ area), reinforcing momentum and giving investors upside conviction. AI Boom Drives Western Digital Toward $500 Target
• Positive Sentiment: Dividend hike & valuation narratives — Coverage highlights a 20% dividend increase and improved valuation metrics tied to AI storage demand, attracting income and growth investors. Western Digital Valuation Check
• Positive Sentiment: Sector tailwind from SanDisk’s breakout — SanDisk (spun off from WDC) has surged, underscoring strong demand for memory/storage in AI data centers and supporting bullish sentiment across storage peers. SanDisk Spun Off From Western Digital
• Neutral Sentiment: Investor events & conference appearance — WDC presented at Barclays’ conference (transcript available), which helps transparency and investor outreach but is informational rather than catalytic. Barclays Conference Transcript
• Neutral Sentiment: Media coverage & screening interest — Multiple “is it a buy?” and trending-stock writeups (Zacks, Yahoo) are increasing visibility but don’t by themselves change fundamentals. Is Wall Street Bullish or Bearish on WDC?
• Negative Sentiment: Insider selling — CEO Irving Tan sold 20,000 shares under a pre-arranged Rule 10b5-1 plan (filing available); while planned sales are common and he retains a large stake, markets often view insider selling as a modest negative signal. Irving Tan SEC Filing
• Negative Sentiment: Additional insider sale — Insider Vidyadhara K. Gubbi sold 4,674 shares; another small reduction in insider holdings that may be noted by investors. V. Gubbi SEC Filing

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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