Western Digital Corporation $WDC Stock Holdings Boosted by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners LLC massively increased its stake in Western Digital, lifting its holdings by 2,688.6% in Q1 to 51,393 shares valued at about $13.9 million.
• Several major analysts remain bullish on WDC, with Bank of America raising its price target to $732 and Melius Research upgrading the stock to strong-buy. The consensus rating is still Moderate Buy.
• Western Digital recently posted strong quarterly results, beating EPS and revenue expectations, while also raising its quarterly dividend from $0.12 to $0.15 per share. However, insiders have sold shares in recent months and the stock has seen some volatility amid a broader memory-chip pullback.

Elevation Point Wealth Partners LLC lifted its position in Western Digital Corporation (NASDAQ:WDC - Free Report) by 2,688.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,393 shares of the data storage provider's stock after buying an additional 49,550 shares during the period. Elevation Point Wealth Partners LLC's holdings in Western Digital were worth $13,901,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of WDC. Rakuten Securities Inc. lifted its holdings 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 valued at $27,000 after purchasing an additional 407 shares during the last quarter. Avion Wealth increased its stake in Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider's stock worth $31,000 after purchasing an additional 113 shares in the last quarter. Swiss RE Ltd. acquired a new stake in Western Digital during the 4th quarter worth about $32,000. BOKF NA raised its holdings in Western Digital by 6,700.0% during the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider's stock worth $33,000 after buying an additional 268 shares during the period. Finally, JPL Wealth Management LLC purchased a new stake in Western Digital during the third quarter valued at about $33,000. Institutional investors own 92.51% of the company's stock.

More Western Digital News

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

• Positive Sentiment: Bank of America raised its price target on Western Digital to $732 from $610 and reiterated a buy rating, signaling confidence in further upside. Benzinga report on Bank of America price target hike
• Positive Sentiment: Melius Research upgraded Western Digital to strong-buy, adding to the list of bullish analyst views on the stock. Zacks report on Melius upgrade
• Positive Sentiment: Zacks said Western Digital has an impressive earnings surprise record and the right setup to potentially beat estimates again in its next quarterly report. Article: Will Western Digital (WDC) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Western Digital was included in Zacks’ list of top momentum stocks for Q3 2026, reflecting continued investor interest in AI-driven storage names. Article: 5 Top-Ranked Momentum Stock Picks for Q3 2026 After a Fabulous Q2
• Neutral Sentiment: Analysts are revisiting fair value estimates as they reassess AI storage demand, HDD pricing, and Western Digital’s product roadmap, keeping the valuation debate active. Article: Western Digital Stock Gets Fair Value Boost As Analysts Reassess AI Storage Demand
• Negative Sentiment: WDC was hit by a broader memory-chip and semiconductor pullback, as investors rotated out of some of this year’s hottest names. Article: Micron Drops 8%, SanDisk Slumps 10%, Western Digital Falls 7% as Memory Stocks Pull Back With the Nasdaq

Insider Buying and Selling at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the transaction, the insider directly owned 116,643 shares of the company's stock, valued at $63,640,420.80. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $411.84, for a total value of $8,236,800.00. Following the transaction, the chief executive officer owned 598,150 shares in the company, valued at approximately $246,342,096. This trade represents a 3.24% 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. Over the last three months, insiders have sold 29,322 shares of company stock valued at $12,768,550. Company insiders own 0.18% of the company's stock.

Western Digital Stock Performance

NASDAQ:WDC opened at $539.00 on Friday. The company has a market capitalization of $185.78 billion, a P/E ratio of 32.18 and a beta of 2.10. The stock's 50 day moving average price is $536.72 and its 200 day moving average price is $357.93. Western Digital Corporation has a 52 week low of $63.67 and a 52 week high of $799.87.

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

Western Digital Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Weiss Ratings downgraded Western Digital from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, June 26th. Bank of America increased their price objective on Western Digital from $610.00 to $732.00 and gave the stock a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on Western Digital from $530.00 to $650.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Rosenblatt Securities lifted their target price on Western Digital from $340.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Finally, Robert W. Baird upped their target price on Western Digital from $310.00 to $450.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Western Digital presently has a consensus rating of "Moderate Buy" and a consensus target price of $493.52.

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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