Sanctuary Advisors LLC Sells 1,085 Shares of Western Digital Corporation $WDC

Sanctuary Advisors LLC lessened its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 2.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,854 shares of the data storage provider’s stock after selling 1,085 shares during the quarter. Sanctuary Advisors LLC’s holdings in Western Digital were worth $14,567,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WDC. GHP Investment Advisors Inc. lifted its stake in shares of Western Digital by 9.2% during the 1st quarter. GHP Investment Advisors Inc. now owns 357 shares of the data storage provider’s stock valued at $97,000 after buying an additional 30 shares in the last quarter. Alps Advisors Inc. lifted its position in shares of Western Digital by 0.8% during the fourth quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider’s stock worth $811,000 after acquiring an additional 37 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its holdings in shares of Western Digital by 1.1% in the first quarter. Astoria Portfolio Advisors LLC. now owns 3,782 shares of the data storage provider’s stock worth $1,023,000 after acquiring an additional 40 shares during the period. Quadcap Wealth Management LLC boosted its holdings in shares of Western Digital by 2.1% in the fourth quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock worth $346,000 after acquiring an additional 41 shares during the period. Finally, Moss Adams Wealth Advisors LLC grew its position in shares of Western Digital by 2.6% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider’s stock valued at $341,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Stock Down 9.2%

Western Digital stock opened at $466.81 on Friday. The stock has a market cap of $160.90 billion, a price-to-earnings ratio of 27.87 and a beta of 2.11. The business has a 50-day simple moving average of $560.95 and a 200 day simple moving average of $383.94. Western Digital Corporation has a 52 week low of $66.04 and a 52 week high of $799.87.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.33. The firm 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 revenue was up 45.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, research analysts anticipate that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

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

More Western Digital News

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

• Negative Sentiment: Western Digital is falling with other memory and storage stocks such as Micron, SanDisk, Seagate, and SK Hynix as traders take profits after a sharp run-up in AI-related names. Nasdaq Slips as Chip Stocks Come Under Pressure
• Negative Sentiment: Sentiment weakened further after reports of a large Shanghai IPO filing by Chinese memory rival CXMT, which raised fears of new competition in an already crowded market. Why Is Western Digital Stock Falling on Thursday?
• Neutral Sentiment: Despite the selloff, some analysts still argue that AI storage demand remains a strong long-term tailwind for Western Digital and that the recent weakness may be more about near-term profit-taking than a deterioration in fundamentals. Everyone’s Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Neutral Sentiment: Recent bullish coverage also points to Western Digital’s strong revenue growth, expanding margins, and earnings beat, which could help limit downside if investors refocus on fundamentals. Which Storage Stock Is Best Positioned to Win the AI Memory War?

Insider Activity at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 4,674 shares of the business’s 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 completion of the transaction, the insider owned 90,041 shares of the company’s stock, valued at $39,905,270.79. The trade was a 4.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were 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. This trade represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,322 shares of company stock worth $12,768,550 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Cantor Fitzgerald boosted their price objective on Western Digital from $660.00 to $900.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. JPMorgan Chase & Co. lifted their target price on Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Fox Advisors cut Western Digital from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Bank of America raised their price objective on shares of Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings raised shares of Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $520.32.

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.