Western Digital Corporation $WDC Position Boosted by AlphaCore Capital LLC

AlphaCore Capital LLC raised its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 105.6% during the 4th quarter, HoldingsChannel reports. The fund owned 5,328 shares of the data storage provider’s stock after purchasing an additional 2,737 shares during the period. AlphaCore Capital LLC’s holdings in Western Digital were worth $918,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Western Digital by 7.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after buying an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Western Digital by 229.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after buying an additional 967 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Western Digital during the 2nd quarter valued at about $307,000. Cresset Asset Management LLC acquired a new stake in shares of Western Digital during the 2nd quarter valued at about $292,000. Finally, Federated Hermes Inc. lifted its holdings in Western Digital by 55.3% in the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock worth $152,000 after purchasing an additional 845 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital News Summary

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

• Positive Sentiment: Western Digital unveiled post-quantum cryptography-enabled Ultrastar UltraSMR hard drives, highlighting its push into next-generation, AI-era infrastructure security and potentially expanding enterprise demand. WD Advances Next-Generation Trusted Infrastructure with Industry’s First Post-Quantum Cryptography Hard Drives to Help Secure the Future of AI Data
• Positive Sentiment: Reports about AI storage demand suggest Western Digital and Seagate are benefiting from tighter supply and better pricing power in mass-capacity drives, which is supportive for revenue and margins. Seagate and Western Digital: AI Storage Demand Is Now Showing Up in Pricing Power
• Positive Sentiment: Broader coverage of the AI memory/storage boom is drawing investor attention to Western Digital as one of the names positioned to benefit from infrastructure spending. Memory Chip Stocks to Watch: Micron (MU), SK Hynix, and Western Digital Lead AI Boom
• Neutral Sentiment: Analyst sentiment remains constructive, with Western Digital receiving a “Moderate Buy” consensus rating, but this is a supportive backdrop rather than a fresh catalyst. Western Digital Corporation (NASDAQ:WDC) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Neutral Sentiment: Other articles on Micron and SanDisk largely reinforce the same industry theme: AI demand is improving the outlook for memory and storage suppliers, but they do not appear to be direct company-specific catalysts for Western Digital. Why Did Micron Stock Drop Today? Why Did Sandisk Stock Drop Today?

Wall Street Analyst Weigh In

WDC has been the subject of several analyst reports. Mizuho set a $470.00 target price on Western Digital in a report on Friday, May 1st. TD Cowen boosted their target price on Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $400.00 price target on shares of Western Digital in a report on Friday, May 1st. Finally, Susquehanna reiterated a “neutral” rating and set a $285.00 price target on shares of Western Digital in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $395.83.

Insider Buying and Selling at Western Digital

In other news, insider Cynthia L. Tregillis sold 363 shares of Western Digital stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $377.09, for a total value of $136,883.67. Following the completion of the transaction, the insider owned 120,023 shares in the company, valued at approximately $45,259,473.07. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $2,071,470.06. Following the completion of the transaction, the insider owned 90,041 shares of the company’s stock, valued at $39,905,270.79. This trade represents a 4.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 53,679 shares of company stock worth $18,049,314 over the last three months. Company insiders own 0.18% of the company’s stock.

Western Digital Trading Down 4.8%

WDC opened at $458.68 on Tuesday. The stock has a market cap of $158.10 billion, a PE ratio of 27.38 and a beta of 2.10. Western Digital Corporation has a 1 year low of $49.00 and a 1 year high of $525.15. The stock’s 50 day simple moving average is $356.14 and its 200-day simple moving average is $260.04.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data 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 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%.Western Digital’s quarterly revenue was up 45.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities analysts forecast that Western Digital Corporation will post 9.57 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is a positive change from Western Digital’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 5th. Western Digital’s dividend payout ratio (DPR) is currently 2.99%.

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.