Western Digital Corporation $WDC Shares Bought by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors LLC increased its Western Digital stake by 22.2% in the first quarter, buying 3,035 more shares and bringing its total to 16,684 shares worth about $4.5 million.
• Western Digital reported better-than-expected quarterly results, with EPS of $2.72 versus $2.39 expected and revenue of $3.34 billion, up 45.5% year over year. The company also issued Q4 2026 guidance of $3.10 to $3.40 EPS.
• Analysts remain bullish on the stock, with multiple recent price-target increases and a consensus rating of “Moderate Buy.” The company also raised its quarterly dividend to $0.15 from $0.12.

Sequoia Financial Advisors LLC increased its holdings in Western Digital Corporation (NASDAQ:WDC - Free Report) by 22.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,684 shares of the data storage provider's stock after purchasing an additional 3,035 shares during the period. Sequoia Financial Advisors LLC's holdings in Western Digital were worth $4,513,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Western Digital by 7.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider's stock valued at $1,698,000 after purchasing an additional 3,019 shares during the period. Geneos Wealth Management Inc. raised its stake in Western Digital by 229.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider's stock worth $56,000 after purchasing an additional 967 shares during the period. Sivia Capital Partners LLC purchased a new position in Western Digital during the second quarter worth approximately $307,000. Cresset Asset Management LLC acquired a new position in shares of Western Digital in the 2nd quarter valued at $292,000. Finally, Federated Hermes Inc. grew its stake in shares of Western Digital by 55.3% during the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider's stock valued at $152,000 after buying an additional 845 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Price Performance

WDC opened at $582.59 on Monday. The firm has a market capitalization of $200.81 billion, a P/E ratio of 34.78 and a beta of 2.11. The firm's 50 day moving average is $555.90 and its 200-day moving average is $374.22. Western Digital Corporation has a 52-week low of $64.23 and a 52-week high of $799.87.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The firm's quarterly 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. Equities analysts expect that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were paid 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 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital's dividend payout ratio (DPR) is currently 3.58%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Zacks Research raised Western Digital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 6th. Rosenblatt Securities raised their price objective on Western Digital from $340.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Mizuho boosted their target price on Western Digital from $550.00 to $685.00 and gave the stock an "outperform" rating in a report on Monday, June 8th. TD Cowen raised their price target on shares of Western Digital from $325.00 to $500.00 and gave the company a "buy" rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Western Digital from $530.00 to $650.00 and gave the company an "overweight" rating in a research report on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $508.32.

Insider Transactions at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 432 shares of Western Digital stock in a transaction on Friday, June 5th. The shares were sold at an average price of $545.60, for a total value of $235,699.20. Following the completion of the transaction, the insider owned 116,643 shares of the company's stock, valued at $63,640,420.80. The trade was a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of the firm's stock in a transaction dated 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,322 shares of company stock valued at $12,768,550 in the last three months. Corporate insiders own 0.18% of the company's stock.

Key Western Digital News

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

• Positive Sentiment: Analysts turned more bullish on Western Digital, with reports highlighting strong AI storage demand and multiple price-target hikes, including Susquehanna’s increase to $500 and broader Wall Street optimism. Seagate Stock Rises After Analyst Upgrades To Buy. Western Digital Nabs Price-Target Hike.
• Positive Sentiment: Recent articles say WDC is benefiting from a rebound in memory and storage stocks as investors regain confidence in AI infrastructure spending and storage demand. Western Digital and Seagate Surge 7%, Micron and SanDisk Climb 6% as Memory Selloff Reverses
• Positive Sentiment: Zacks and other commentary continue to frame Western Digital as an AI infrastructure winner, citing strong revenue growth, margin expansion, and an improved outlook for future earnings. Micron & One AI Infrastructure Stock to Buy Now for Big Upside
• Neutral Sentiment: One item flagged an apparent short-interest update showing zero shares reported, but the data appears unusual and is unlikely to be a meaningful trading signal on its own.
• Negative Sentiment: Some valuation-focused commentary suggests the stock may be getting expensive on earnings metrics even after its strong run, which could limit upside if growth expectations cool. Western Digital (WDC) Stock Looks Cheap On Cash Flow But Rich On Earnings

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.

Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Corporation (NASDAQ:WDC - Free Report).

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.