Western Digital Corporation $WDC Shares Sold by Family Investment Center Inc.

Key Points

• Family Investment Center Inc. cut its Western Digital stake by 64.6% in the first quarter, selling 1,896 shares and leaving it with 1,040 shares valued at about $281,000.
• Analyst sentiment remains constructive, with firms like Barclays and Wells Fargo raising price targets, and the stock carrying an average Moderate Buy rating with a $484.04 target.
• Western Digital reported strong quarterly results, beating earnings and revenue estimates, and also raised its quarterly dividend from $0.12 to $0.15 per share.

Family Investment Center Inc. trimmed its holdings in Western Digital Corporation (NASDAQ:WDC - Free Report) by 64.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,040 shares of the data storage provider's stock after selling 1,896 shares during the period. Family Investment Center Inc.'s holdings in Western Digital were worth $281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rakuten Securities Inc. boosted its position in shares of Western Digital by 4,070.0% in the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock worth $27,000 after acquiring an additional 407 shares during the last quarter. Avion Wealth increased its position in 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 purchasing an additional 113 shares during the last quarter. Swiss RE Ltd. acquired a new position in Western Digital during the fourth quarter worth approximately $32,000. BOKF NA raised its stake in Western Digital by 6,700.0% during the third quarter. BOKF NA now owns 272 shares of the data storage provider's stock worth $33,000 after purchasing an additional 268 shares during the period. Finally, JPL Wealth Management LLC purchased a new position in Western Digital during the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 92.51% of the company's stock.

Western Digital News Roundup

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

• Positive Sentiment: Melius Research initiated coverage of Western Digital with a Buy rating and a price target implying significant upside, boosting investor confidence in the stock. Article Title
• Positive Sentiment: Analysts highlighted about 55% upside for Western Digital and noted bullish options flow, with call buying outpacing put buying, suggesting traders are positioning for further gains. Article Title
• Positive Sentiment: Western Digital has been screening as a top momentum name in AI infrastructure, helped by strong earnings trends and continued demand tied to storage needs. Article Title
• Neutral Sentiment: Recent market commentary says Western Digital remains in a strong bullish trend and is trading well above its 200-day moving average, which supports the stock technically but does not add a major new catalyst. Article Title

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group lifted their price target on shares of Western Digital from $350.00 to $375.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Barclays upped their price objective on Western Digital from $450.00 to $620.00 and gave the stock an "overweight" rating in a report on Wednesday, May 27th. Wells Fargo & Company increased their target price on Western Digital from $500.00 to $575.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. The Goldman Sachs Group reiterated a "neutral" rating and issued a $400.00 target price on shares of Western Digital in a report on Friday, May 1st. Finally, Weiss Ratings downgraded Western Digital from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $484.04.

Insider Buying and Selling

In other Western Digital news, insider Vidyadhara K. Gubbi sold 4,674 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $443.19, for a total value of $2,071,470.06. Following the completion of the transaction, the insider owned 90,041 shares in the company, valued at $39,905,270.79. This represents a 4.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce E. Kiddoo sold 750 shares of the stock in a transaction that occurred 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 sale, the director directly owned 3,903 shares of the company's stock, valued at $2,062,813.56. This trade represents a 16.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 29,322 shares of company stock valued at $12,768,550. 0.18% of the stock is owned by company insiders.

Western Digital Stock Down 2.0%

WDC opened at $638.72 on Wednesday. Western Digital Corporation has a 52-week low of $62.94 and a 52-week high of $799.87. The company has a 50 day moving average of $529.13 and a two-hundred day moving average of $352.48. The company has a market cap of $220.15 billion, a P/E ratio of 38.13 and a beta of 2.13.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.39 by $0.33. The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business's revenue for the quarter was up 45.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Research analysts anticipate that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.1%. This is a boost from Western Digital's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 5th. Western Digital's dividend payout ratio is 3.58%.

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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