Western Digital Corporation $WDC Stock: New York Life Investment Management LLC Boosts Holdings

New York Life Investment Management LLC grew its stake in Western Digital Corporation (NASDAQ:WDC) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,604 shares of the data storage provider’s stock after acquiring an additional 2,432 shares during the period. New York Life Investment Management LLC’s holdings in Western Digital were worth $24,361,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Handelsbanken Fonder AB increased its holdings in Western Digital by 71.4% during the second quarter. Handelsbanken Fonder AB now owns 230,578 shares of the data storage provider’s stock worth $147,275,000 after buying an additional 96,078 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Western Digital during the second quarter worth $19,694,000. NewEdge Wealth LLC bought a new stake in Western Digital during the second quarter worth $14,466,000. OneAscent Financial Services LLC acquired a new stake in Western Digital in the second quarter valued at $1,599,000. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in Western Digital in the second quarter valued at $8,307,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Stock Performance

NASDAQ WDC opened at $289.20 on Wednesday. The firm has a 50-day moving average of $400.13 and a 200-day moving average of $419.44. The stock has a market cap of $108.25 billion, a PE ratio of 11.22, a P/E/G ratio of 1.02 and a beta of 2.27. Western Digital Corporation has a 52-week low of $132.43 and a 52-week high of $799.87.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, October 22nd. The data storage provider reported $4.64 EPS for the quarter, topping the consensus estimate of $4.11 by $0.53. Western Digital had a net margin of 69.20% and a return on equity of 55.62%. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the firm posted $1.78 EPS. Western Digital’s revenue was up 55.5% compared to the same quarter last year. As a group, analysts predict that Western Digital Corporation will post 23.62 EPS for the current fiscal year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, December 4th will be given a dividend of $0.1750 per share. This represents a $0.70 annualized dividend and a yield of 0.2%. This is a boost from Western Digital’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, December 4th. Western Digital’s dividend payout ratio (DPR) is 2.33%.

Key Western Digital News

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

• Positive Sentiment: Western Digital shares climbed as investors bought back into the stock following the recent decline; peer storage names also rallied, suggesting a sector-wide rebound contributed. Western Digital climbs amid rebound from recent selloff
• Positive Sentiment: Coverage highlights Western Digital’s exposure to AI-driven storage demand, including cloud growth and adoption of higher-capacity hard drives, with strong growth prospects cited for fiscal 2027. This supports the longer-term bull case, though it is not a new company announcement. Western Digital and the AI storage boom
• Neutral Sentiment: A short-interest report says short interest was zero shares as of November 10, despite describing it as a significant increase. The figures appear inconsistent and do not provide clear evidence of short-covering as a catalyst.
• Negative Sentiment: Law firm Levi & Korsinsky announced an investigation into possible fiduciary-duty breaches by certain Western Digital officers and directors. The notice does not establish wrongdoing, but may add a legal and reputational overhang. Shareholder investigation announcement

Insider Buying and Selling

In other news, insider Vidyadhara K. Gubbi sold 1,795 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $459.87, for a total value of $825,466.65. Following the transaction, the insider owned 80,571 shares of the company’s stock, valued at approximately $37,052,185.77. This represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cynthia L. Tregillis sold 807 shares of the stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $380.00, for a total value of $306,660.00. Following the transaction, the insider owned 108,928 shares in the company, valued at approximately $41,392,640. This trade represents a 0.74% decrease in their position. 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. In the last 90 days, insiders have sold 5,436 shares of company stock valued at $2,440,664. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WDC shares. Bank of America lifted their price objective on shares of Western Digital from $720.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. UBS Group reaffirmed a “buy” rating and issued a $625.00 target price on shares of Western Digital in a report on Friday, October 23rd. Cantor Fitzgerald cut their target price on shares of Western Digital from $900.00 to $625.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 3rd. Finally, TD Cowen reduced their price target on Western Digital from $540.00 to $430.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $591.04.

Western Digital Profile

Western Digital Corporation (NASDAQ: WDC) develops and supplies hard disk drives (HDDs) and related data-storage products. Its drives serve data centers and cloud providers, as well as businesses and consumers who need storage for computers, network-attached storage systems, surveillance and other applications. Its product brands include WD and Ultrastar. Founded in 1970, the company began as an electronics and semiconductor business before expanding into data storage. In February 2025, Western Digital completed the separation of its flash-memory business into the independently traded SanDisk Corporation, leaving Western Digital focused on HDDs.