Legacy Wealth Management LLC MS Takes Position in Western Digital Corporation $WDC

Legacy Wealth Management LLC MS purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,604 shares of the data storage provider’s stock, valued at approximately $1,025,000.

Other institutional investors also recently bought and sold shares of the company. Dogwood Wealth Management LLC increased its position in Western Digital by 28.6% during the second quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock valued at $57,000 after acquiring an additional 20 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in Western Digital during the 1st quarter valued at about $32,000. IMG Wealth Management Inc. grew its holdings in Western Digital by 853.8% during the 1st quarter. IMG Wealth Management Inc. now owns 124 shares of the data storage provider’s stock valued at $34,000 after purchasing an additional 111 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Western Digital in the 1st quarter worth about $35,000. Finally, Cornerstone Planning Group LLC raised its position in Western Digital by 33.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 33 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $434.30 on Friday. Western Digital Corporation has a 52-week low of $73.14 and a 52-week high of $799.87. The firm has a market capitalization of $149.69 billion, a price-to-earnings ratio of 17.94 and a beta of 2.14. The stock has a 50 day moving average price of $565.61 and a 200 day moving average price of $417.35.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Tuesday, August 4th. The data storage provider reported $3.56 EPS for the quarter, topping the consensus estimate of $3.31 by $0.25. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.Western Digital’s quarterly revenue was up 43.8% on a year-over-year basis. During the same period last year, the business posted $1.66 EPS. Analysts forecast that Western Digital Corporation will post 18.21 earnings per share for the current year.

Western Digital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 8th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Western Digital’s dividend payout ratio (DPR) is currently 3.58%.

Western Digital News Summary

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

• Positive Sentiment: Western Digital reported fiscal fourth-quarter revenue of approximately $3.75 billion, up about 44% year over year, and adjusted earnings of $3.56 per share—both ahead of Wall Street expectations. Growth was supported by AI-related cloud storage demand, stronger pricing, and higher-capacity hard-disk drives. Western Digital Q4 Earnings Beat as Revenue Jumps 44% on Cloud Demand
• Positive Sentiment: Management highlighted strong visibility into AI-storage demand, with some customers negotiating capacity commitments through 2031. The company also expects continued margin expansion, while analysts remain broadly constructive; recent price targets include $630 from Baird and a $575 median across 15 analysts. Western Digital Says AI Customers Are Already Negotiating Storage Deals Through 2031
• Neutral Sentiment: The selloff is part of a broader rotation within semiconductor and memory stocks. Investors have been shifting toward AI networking leaders, while comparing Western Digital’s results with stronger results from rival Seagate Technology. Western Digital Slumps Despite Q2 Beat as Analysts Highlight Peer Seagate’s Results
• Neutral Sentiment: Western Digital declared a quarterly dividend of $0.15 per share, payable September 17 to shareholders of record September 8. The dividend provides a modest shareholder return but is unlikely to drive the near-term trading reaction.
• Negative Sentiment: Investors viewed fiscal-first-quarter 2027 gross-margin guidance of 55%–56% as insufficiently strong after the stock’s dramatic advance and elevated expectations. Although the outlook implies sequential improvement, it trailed the bar set by Seagate and was interpreted as evidence that the recent margin expansion may be stabilizing. Western Digital Shares Fall as Margin Outlook Tempers Strong Q4 Results
• Negative Sentiment: Profit-taking intensified because Western Digital had already rallied sharply on the AI-storage theme. The strong earnings beat therefore failed to exceed the market’s unusually high expectations, prompting a valuation reset and technical concerns around support levels. Sandisk, Western Digital Drag on Chip Stocks as Lofty Expectations Eclipse Strong Earnings
• Negative Sentiment: Reported insider activity has been heavily tilted toward selling, with 129 sales and no purchases over the past six months. While such transactions may reflect diversification or compensation, the lack of insider buying adds to near-term investor caution.

Insider Activity

In related news, insider Cynthia L. Tregillis sold 808 shares of Western Digital stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total value of $427,941.04. Following the completion of the sale, the insider directly owned 114,539 shares in the company, valued at $60,663,290.57. The trade was a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, insider Vidyadhara K. Gubbi sold 2,475 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the completion of the sale, the insider directly owned 85,154 shares of the company’s stock, valued at approximately $47,366,060.96. This trade represents a 2.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 5,093 shares of company stock worth $2,751,337. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WDC. Summit Insights lowered Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Wells Fargo & Company upped their price objective on Western Digital from $575.00 to $730.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Melius Research set a $1,050.00 target price on Western Digital and gave the stock a “buy” rating in a research note on Monday, June 29th. Finally, Cantor Fitzgerald lifted their target price on Western Digital from $660.00 to $900.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $534.56.

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.