Western Digital Corporation $WDC Shares Purchased by Elite Wealth Management Inc.

Key Points

• Elite Wealth Management increased its Western Digital stake by 118.4% in the third quarter, adding 11,622 shares to hold 21,441 shares valued at about $9.74 million.
• Western Digital beat quarterly earnings and revenue expectations, reporting EPS of $4.64 and revenue of $4.38 billion; revenue rose 55.5% year over year.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average price target of $591.04. The company also raised its quarterly dividend from $0.15 to $0.175 per share.

Elite Wealth Management Inc. raised its holdings in Western Digital Corporation (NASDAQ:WDC - Free Report) by 118.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,441 shares of the data storage provider's stock after acquiring an additional 11,622 shares during the quarter. Western Digital makes up 1.9% of Elite Wealth Management Inc.'s holdings, making the stock its 12th largest holding. Elite Wealth Management Inc.'s holdings in Western Digital were worth $9,744,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Western Digital during the second quarter worth $28,000. Dunhill Financial LLC purchased a new stake in shares of Western Digital during the second quarter valued at $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Western Digital during the second quarter valued at $31,000. Gables Capital Management Inc. purchased a new stake in shares of Western Digital during the second quarter valued at $32,000. Finally, Valley National Advisers Inc. grew its holdings in shares of Western Digital by 182.6% in the third quarter. Valley National Advisers Inc. now owns 65 shares of the data storage provider's stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 92.51% of the company's stock.

Wall Street Analysts Forecast Growth

WDC has been the topic of several recent analyst reports. Weiss Ratings downgraded shares of Western Digital from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, October 13th. BNP Paribas Exane lifted their price objective on shares of Western Digital from $660.00 to $700.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Sanford C. Bernstein boosted their price objective on shares of Western Digital from $590.00 to $770.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Robert W. Baird set a $900.00 target price on shares of Western Digital in a research note on Friday, October 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Western Digital from $730.00 to $450.00 and set an "overweight" rating on the stock in a research note on Friday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $591.04.

Western Digital Price Performance

NASDAQ:WDC opened at $263.78 on Monday. Western Digital Corporation has a 1-year low of $132.43 and a 1-year high of $799.87. The company has a 50-day moving average of $406.75 and a 200 day moving average of $418.97. The firm has a market cap of $98.74 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 0.93 and a beta of 2.27.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its earnings results on Thursday, October 22nd. The data storage provider reported $4.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $0.53. The company had revenue of $4.38 billion for the quarter, compared to analysts' expectations of $4.14 billion. Western Digital had a net margin of 69.20% and a return on equity of 55.62%. The firm's quarterly revenue was up 55.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.78 EPS. Sell-side analysts anticipate that Western Digital Corporation will post 23.62 EPS for the current fiscal year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.1750 per share. This is a boost from Western Digital's previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, December 4th. Western Digital's payout ratio is 2.72%.

Insider Activity

In other news, insider Vidyadhara Gubbi sold 1,795 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $459.87, for a total transaction of $825,466.65. Following the transaction, the insider directly owned 80,571 shares in the company, valued at approximately $37,052,185.77. This trade represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cynthia Tregillis sold 1,007 shares of Western Digital stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $478.36, for a total transaction of $481,708.52. Following the transaction, the insider directly owned 112,155 shares in the company, valued at approximately $53,650,465.80. The trade was a 0.89% 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. Over the last ninety days, insiders have sold 25,436 shares of company stock worth $11,340,064. Corporate insiders own 0.20% of the company's stock.

More Western Digital News

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

• Positive Sentiment: Storage and memory stocks recovered as investors reassessed fears that election-related policy changes would derail AI investment. Strategists say the AI buildout is still expected to continue, though potentially on a longer timeline. Western Digital Stock Rebounds as Wall Street Bets AI Storage Demand Outlasts Election Rout
• Positive Sentiment: Fundamental commentary highlights stronger pricing, demand for higher-capacity hard drives, and operational efficiencies as drivers of Western Digital’s gross-margin expansion. Zacks Research also upgraded the stock from “hold” to “strong-buy.” Western Digital's Gross Margin Momentum: How Long Can It Last?
• Neutral Sentiment: Analyst sentiment remains broadly supportive, with a reported consensus Buy rating and average price target near $589. However, one valuation estimate was recently reduced from $650.67 to $613.38, reflecting a reassessment of HDD strength, spending plans, and future supply. Nasdaq Suffers Worst AI Panic in Years as Nvidia, SanDisk, and Western Digital Sink Western Digital Stock Sees Fair Value Cut
• Negative Sentiment: Investors are concerned that proposed federal oversight, permitting restrictions, or caps on new data centers could slow AI infrastructure spending—an important source of expected storage demand. That concern drove a sharp selloff Thursday before the reported rebound. Why Are Western Digital Shares Falling on AI Data Center Policy Risk?

Western Digital Profile

Western Digital Corporation NASDAQ: WDC develops and supplies hard disk drives (HDDs) and related data-storage products. Its drives serve data centers and cloud providers, as well as businesses and consumers who need storage for computers, network-attached storage systems, surveillance and other applications. Its product brands include WD and Ultrastar.

Founded in 1970, the company began as an electronics and semiconductor business before expanding into data storage. In February 2025, Western Digital completed the separation of its flash-memory business into the independently traded SanDisk Corporation, leaving Western Digital focused on HDDs.

Western Digital serves customers around the world.

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