Western Digital Corporation $WDC Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp boosted its holdings in Western Digital Corporation (NASDAQ:WDC - Free Report) by 257.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 72,692 shares of the data storage provider's stock after buying an additional 52,359 shares during the quarter. Fifth Third Bancorp's holdings in Western Digital were worth $19,663,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 acquiring an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings 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 valued at $56,000 after acquiring an additional 967 shares during the period. Sivia Capital Partners LLC acquired a new stake in Western Digital in the 2nd quarter valued at approximately $307,000. Cresset Asset Management LLC acquired a new stake in shares of Western Digital in the second quarter worth $292,000. Finally, Federated Hermes Inc. grew its position in Western Digital by 55.3% in the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider's stock worth $152,000 after purchasing an additional 845 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company's stock.

Western Digital Trading Down 4.6%

Western Digital stock opened at $555.55 on Tuesday. The company has a market cap of $191.49 billion, a P/E ratio of 33.17 and a beta of 2.11. Western Digital Corporation has a 1-year low of $65.24 and a 1-year high of $799.87. The company has a fifty day simple moving average of $558.32 and a 200 day simple moving average of $376.88.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 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 analysts' expectations of $3.25 billion. During the same period 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. On average, equities research analysts forecast that Western Digital Corporation will post 9.6 EPS for the current year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were paid a dividend of $0.15 per share. 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%. This is an increase from Western Digital's previous quarterly dividend of $0.12. Western Digital's dividend payout ratio (DPR) is currently 3.58%.

Trending Headlines about Western Digital

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

• Negative Sentiment: WDC slid in sympathy with the memory-chip sector after SK Hynix’s steep decline reignited concerns about valuations and near-term earnings in AI-related memory stocks. Western Digital Stock Drops: Why an Aggressive SK Hynix Reversal Is Shaking Up the Chip Sector
• Negative Sentiment: The broader group also weakened after reports that SK Hynix’s weak profit forecast and post-IPO reversal triggered selling across chip and storage names, including Western Digital. Micron, SanDisk, Western Digital Fall 6% as SK Hynix's Weak Outlook Rattles Memory Stocks
• Negative Sentiment: Another report said WDC was down in pre-market trading as investors dumped memory-chip stocks amid sector-wide weakness and rising geopolitical tension. Why Is Western Digital Stock (WDC) Falling in Pre-Market Today, 7/13/26?
• Negative Sentiment: Market commentary also noted that global chip stocks were under pressure as investors reconsidered the sustainability of aggressive AI spending and related valuations. Intel, AMD, Sandisk, and More Stocks That Explain Today’s Market
• Neutral Sentiment: Western Digital also announced it will report fourth-quarter and fiscal 2026 results on August 5, which keeps investor attention focused on upcoming earnings but does not by itself change the near-term trading setup. WD to Announce Fourth Quarter and Fiscal Year 2026 Financial Results on August 5, 2026
• Positive Sentiment: Despite the selloff, some analysts remain constructive, citing strong demand and tight HDD supply as reasons Western Digital could still have upside if fundamentals hold. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WDC shares. Jefferies Financial Group set a $575.00 price target on shares of Western Digital in a report on Tuesday, May 26th. Wall Street Zen raised Western Digital from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Evercore reaffirmed an "outperform" rating and issued a $575.00 target price on shares of Western Digital in a research note on Tuesday, May 26th. Wells Fargo & Company upped their price target on Western Digital from $575.00 to $730.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Bank of America increased their price objective on shares of Western Digital from $610.00 to $732.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $520.32.

Insider Buying and Selling

In other news, insider Vidyadhara K. Gubbi sold 2,475 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $556.24, for a total value of $1,376,694.00. Following the completion of the sale, the insider owned 85,154 shares of the company's stock, valued at approximately $47,366,060.96. This represents a 2.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Cynthia L. Tregillis sold 432 shares of the business's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $545.60, for a total transaction of $235,699.20. Following the transaction, the insider owned 116,643 shares in the company, valued at approximately $63,640,420.80. The trade was a 0.37% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 29,322 shares of company stock worth $12,768,550. 0.18% of the stock is owned by corporate 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.

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