Brookstone Capital Management Has $1.47 Million Stock Holdings in Western Digital Corporation $WDC

Brookstone Capital Management lifted its holdings in Western Digital Corporation (NASDAQ:WDC) by 135.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,433 shares of the data storage provider’s stock after purchasing an additional 3,129 shares during the period. Brookstone Capital Management’s holdings in Western Digital were worth $1,470,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Avion Wealth grew its holdings in Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after buying an additional 113 shares during the last quarter. Roble Belko & Company Inc bought a new position in Western Digital during the first quarter worth $50,000. Swiss RE Ltd. acquired a new position in Western Digital during the 4th quarter valued at $32,000. Concord Wealth Partners acquired a new position in Western Digital during the 4th quarter valued at $41,000. Finally, BOKF NA boosted its holdings in Western Digital by 6,700.0% in the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider’s stock valued at $33,000 after purchasing an additional 268 shares during the period. 92.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WDC shares. Bank of America boosted their price objective on Western Digital to $495.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Wells Fargo & Company upped their price target on Western Digital from $500.00 to $575.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Morgan Stanley increased their price objective on Western Digital from $488.00 to $650.00 and gave the stock an “overweight” rating in a research note on Monday, June 15th. 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 report on Friday, June 12th. Finally, Jefferies Financial Group set a $575.00 price objective on shares of Western Digital in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and an average price target of $450.46.

Insider Activity at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 4,674 shares of Western Digital stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $443.19, for a total value of $2,071,470.06. Following the transaction, the insider owned 90,041 shares of the company’s stock, valued at approximately $39,905,270.79. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the sale, the chief executive officer owned 598,150 shares in the company, valued at approximately $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 29,322 shares of company stock worth $12,768,550. Corporate insiders own 0.18% of the company’s stock.

Key Headlines Impacting Western Digital

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

• Positive Sentiment: Micron’s strong quarter is being treated as a read-through for the entire memory/storage group, with investors betting that AI infrastructure demand will keep Western Digital’s business environment favorable. Western Digital Stock And Seagate Get Boost From Big Micron Earnings Beat
• Positive Sentiment: Reports highlighted that AI-related memory demand is outpacing supply, which could support better pricing and margins for Western Digital if current trends continue. AI boom keeps memory chip makers in sweet spot, says expert
• Positive Sentiment: Analysts and market commentators said Micron’s results helped “justify elevated valuations” across memory names, fueling a sector-wide rally that included Western Digital. Sandisk, Western Digital, and others soar as Micron results ‘justify elevated valuations’
• Neutral Sentiment: Technical commentary noted a hammer pattern and improving earnings estimate revisions for WDC, which may be supporting bullish sentiment but is not a fundamental catalyst by itself. Here’s Why Western Digital (WDC) Is a Great ‘Buy the Bottom’ Stock Now

Western Digital Stock Up 4.9%

NASDAQ:WDC opened at $675.39 on Friday. The firm has a market capitalization of $232.79 billion, a P/E ratio of 40.32 and a beta of 2.13. Western Digital Corporation has a 12-month low of $62.53 and a 12-month high of $799.87. The stock’s fifty day simple moving average is $513.57 and its 200-day simple moving average is $342.93.

Western Digital (NASDAQ:WDC) last announced its quarterly 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 company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.Western Digital’s revenue was up 45.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, equities research analysts expect that Western Digital Corporation will post 9.58 earnings per share for the current year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 5th. Western Digital’s dividend payout ratio is currently 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.