2,237 Western Digital Corporation $WDC Shares Sold by XXI Wealth LLC

XXI Wealth LLC reduced its holdings in Western Digital Corporation (NASDAQ:WDC) by 40.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,274 shares of the data storage provider’s stock after selling 2,237 shares during the quarter. XXI Wealth LLC’s holdings in Western Digital were worth $1,488,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Legal & General Group Plc acquired a new position in shares of Western Digital during the 2nd quarter worth about $1,602,927,000. ABS Investment Management LLC acquired a new stake in Western Digital in the 2nd quarter valued at approximately $1,226,342,000. Anther Capital Ltd bought a new position in Western Digital in the 2nd quarter worth approximately $901,601,000. Deutsche Bank AG bought a new position in Western Digital in the 2nd quarter worth approximately $885,565,000. Finally, Trivest Advisors Ltd bought a new position in Western Digital in the 2nd quarter worth approximately $627,606,000. 92.51% of the stock is currently owned by institutional investors.

Western Digital Trading Down 3.0%

WDC stock traded down $10.52 during trading on Friday, reaching $343.67. 13,914,877 shares of the stock were exchanged, compared to its average volume of 9,494,005. Western Digital Corporation has a twelve month low of $121.85 and a twelve month high of $799.87. The company has a market capitalization of $128.64 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 1.50 and a beta of 2.11. The stock has a 50 day simple moving average of $432.18 and a 200-day simple moving average of $479.51.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, October 22nd. The data storage provider reported $4.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $0.53. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. Western Digital had a return on equity of 56.91% and a net margin of 69.20%. The company’s quarterly revenue was up 55.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.78 earnings per share. Equities analysts predict that Western Digital Corporation will post 19.69 EPS for the current year.

Western Digital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, December 4th will be given a dividend of $0.1750 per share. This is a boost from Western Digital’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, December 4th. Western Digital’s dividend payout ratio (DPR) is presently 2.48%.

Key Western Digital News

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

• Positive Sentiment: Western Digital reported fiscal Q1 2027 adjusted EPS of $4.64, above the roughly $4.09–$4.11 consensus, while revenue rose 55.5% year over year to $4.38 billion. Growth was driven by strong cloud and data-center demand, higher-capacity drives and improved pricing. Western Digital Q1 earnings and revenues beat estimates
• Positive Sentiment: Management issued substantially stronger-than-expected fiscal Q2 guidance, calling for revenue of approximately $5.0 billion to $5.2 billion and adjusted EPS of $5.60 to $6.00, versus consensus estimates near $4.5 billion and $4.72, respectively. Western Digital forecasts strong second-quarter growth
• Positive Sentiment: AI-related storage demand remains durable, with management citing growing requirements from inference, robotics and long-term data retention. Analysts and industry commentators expect HDDs to remain an important, cost-effective storage layer for data centers, potentially supporting demand visibility into 2030–2031. Western Digital CEO discusses durable AI storage demand
• Positive Sentiment: Western Digital generated about $1.38 billion in free cash flow and increased its quarterly dividend 16.7% to $0.175 per share. JPMorgan also raised its price target to $650 and maintained an overweight rating. Western Digital Q1 revenue and dividend update
• Neutral Sentiment: Other analysts remained bullish but reduced some price targets, reflecting elevated expectations and uncertainty around the pace of future growth. TD Cowen, for example, lowered its target to $430 while retaining a buy rating; Rosenblatt and Cantor Fitzgerald also cut targets but remained positive.
• Negative Sentiment: The stock’s strong results were not enough to overcome a broad sell-off in AI, memory and technology shares. Investors are questioning whether hyperscaler capital spending can remain elevated and whether Western Digital’s unusually strong HDD pricing and margins are sustainable.
• Negative Sentiment: Higher planned capital expenditures, possible industry supply increases, inventory concerns and execution risks surrounding the HAMR technology transition are weighing on sentiment. Management also acknowledged that HDD price growth could eventually moderate. Western Digital faces capex and supply concerns
• Negative Sentiment: A disclosed insider sale of 807 shares worth approximately $306,660 added a modest sentiment overhang, although it was conducted under a pre-arranged Rule 10b5-1 plan and represented only a small portion of the insider’s holdings. SEC insider transaction filing

Insider Activity

In other Western Digital news, insider Cynthia L. Tregillis sold 807 shares of Western Digital stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $380.00, for a total transaction of $306,660.00. Following the sale, the insider owned 108,928 shares in the company, valued at $41,392,640. The trade was a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 1,795 shares of Western Digital stock in a transaction on Friday, September 4th. The stock was sold at an average price of $459.87, for a total transaction of $825,466.65. Following the sale, the insider owned 80,571 shares in the company, valued at $37,052,185.77. This represents a 2.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 25,436 shares of company stock worth $11,340,064. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

WDC has been the subject of a number of research analyst reports. Weiss Ratings lowered Western Digital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, October 13th. Evercore restated an “outperform” rating on shares of Western Digital in a research note on Friday. Susquehanna set a $405.00 target price on shares of Western Digital in a research report on Friday. Melius Research set a $1,050.00 target price on shares of Western Digital and gave the stock a “buy” rating in a research report on Monday, June 29th. Finally, The Goldman Sachs Group set a $540.00 target price on shares of Western Digital in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $584.00.

Western Digital Company Profile

Western Digital Corporation (NASDAQ: WDC) is a data storage technology company that develops and manufactures hard disk drives (HDDs) and related storage solutions. Its products are used in data centers, cloud infrastructure, enterprise systems, personal computers, gaming platforms and external storage devices.

The company offers HDD-based products for business and consumer applications, including high-capacity drives designed for hyperscale and cloud data centers, enterprise storage environments, network-attached storage systems and personal computing.