SmartHarvest Portfolios LLC Makes New Investment in Western Digital Corporation $WDC

SmartHarvest Portfolios LLC purchased a new position in Western Digital Corporation (NASDAQ:WDC) in the first quarter, HoldingsChannel reports. The firm purchased 882 shares of the data storage provider’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds have also made changes to their positions in WDC. Rakuten Securities Inc. increased its stake 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 acquiring an additional 407 shares during the period. Avion Wealth boosted its stake in Western Digital by 163.8% during the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 113 shares in the last quarter. Swiss RE Ltd. bought a new position in Western Digital during the 4th quarter valued at $32,000. BOKF NA increased its position in shares of Western Digital by 6,700.0% during 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. Finally, JPL Wealth Management LLC acquired a new position in shares of Western Digital during the 3rd quarter valued at $33,000. 92.51% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the transaction, the director owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction that occurred 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 transaction, 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 have sold 29,322 shares of company stock valued at $12,768,550. Corporate insiders own 0.18% of the company’s stock.

Western Digital Stock Down 13.2%

WDC opened at $586.45 on Friday. The firm has a market cap of $202.14 billion, a PE ratio of 35.01 and a beta of 2.13. The business has a fifty day simple moving average of $518.00 and a 200-day simple moving average of $344.63. Western Digital Corporation has a fifty-two week low of $62.65 and a fifty-two week high of $799.87.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.33. The business had revenue of $3.34 billion for 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%.The company’s quarterly revenue was up 45.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities research analysts anticipate that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were issued a $0.15 dividend. The ex-dividend date was Friday, June 5th. This is a positive change from Western Digital’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Western Digital’s dividend payout ratio is 3.58%.

Wall Street Analyst Weigh In

WDC has been the subject of several research analyst reports. Wall Street Zen upgraded Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Morgan Stanley lifted their target price on Western Digital from $488.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Wells Fargo & Company boosted their price target on shares of 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 reissued a “neutral” rating and issued a $400.00 price target on shares of Western Digital in a report on Friday, May 1st. Finally, Evercore restated an “outperform” rating and set a $575.00 price objective on shares of Western Digital in a research 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 assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $450.46.

Trending Headlines about Western Digital

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

• Positive Sentiment: Micron’s strong quarterly results reinforced the AI-driven memory shortage theme, which has lifted Western Digital along with other memory stocks. Western Digital Stock And Seagate Get Boost From Big Micron Earnings Beat
• Positive Sentiment: Analysts and commentators continue to highlight strong AI memory demand, rising estimate revisions, and favorable supply-demand dynamics for WDC. Micron’s Robust Q3 Results Raise Investor Attention on These 3 Stocks
• Neutral Sentiment: Reports of SK Hynix planning a Nasdaq listing on July 10 add more attention to the broader memory ecosystem, but the direct impact on WDC is unclear. Is the Roundhill Memory ETF (DRAM) a Buy Before July 10?
• Negative Sentiment: After the sector’s big rally, memory and semiconductor stocks are pulling back as investors take profits and worry that memory and storage costs may have gotten ahead of fundamentals. MU, SNDK, WDC: 3 Key Reasons Why Memory Stocks Are Falling Today
• Negative Sentiment: Broader tech-sector weakness is weighing on WDC alongside other chip names, adding to the selloff in the group. Semiconductor stocks retreat over worries about memory costs

Western Digital 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.