Cynthia Tregillis Sells 432 Shares of Western Digital (NASDAQ:WDC) Stock

Western Digital Corporation (NASDAQ:WDC - Get Free Report) insider Cynthia Tregillis sold 432 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the transaction, the insider owned 116,643 shares in the company, valued at $63,640,420.80. The trade was a 0.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Western Digital Stock Down 11.1%

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Western Digital stock opened at $511.72 on Friday. Western Digital Corporation has a 12-month low of $54.60 and a 12-month high of $602.54. The firm's fifty day moving average is $422.06 and its 200 day moving average is $294.77. The company has a market capitalization of $176.38 billion, a PE ratio of 30.55 and a beta of 2.13.

Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results 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. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the company earned $1.36 EPS. Western Digital's quarterly revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Sell-side analysts expect that Western Digital Corporation will post 9.57 EPS for the current fiscal year.

Western Digital Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts have weighed in on WDC shares. Wall Street Zen raised shares of Western Digital from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Citigroup raised their price objective on shares of Western Digital from $500.00 to $685.00 and gave the company a "buy" rating in a research note on Tuesday. Wells Fargo & Company raised their price objective on shares of Western Digital from $500.00 to $575.00 and gave the company an "overweight" rating in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of Western Digital from $320.00 to $400.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $325.00 price objective on shares of Western Digital in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $424.33.

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Read Our Latest Report on WDC

Trending Headlines about Western Digital

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

• Positive Sentiment: Western Digital is benefiting from strong investor enthusiasm around AI-driven storage demand, with recent articles highlighting new AI-focused storage technologies, improved analyst valuation estimates, and expectations for firmer HDD and memory pricing. Why Western Digital (WDC) Is Up 12.0% After Unveiling New AI‑Focused Storage Technologies
• Positive Sentiment: Citigroup reportedly raised its price target on Western Digital by 37%, helping push the stock to fresh highs as investors positioned ahead of the company’s Computex-related AI announcements. Western Digital (WDC) Hits All-Time High as Citi Hikes PT by 37%
• Positive Sentiment: The company has also been cleaning up its balance sheet and making more AI-related moves, which some investors view as supporting additional upside. Western Digital Could Be Halfway Through Retiring 2028 Convertible Debt. What It Means for the Stock.
• Neutral Sentiment: Western Digital’s recent earnings were strong, with the company beating estimates and issuing upbeat guidance, but the stock still saw a short-term dip as some traders appeared to take profits after a big run. Western Digital (WDC) Stock Dips 3% Despite Strong Earnings—Should Investors Buy the Pullback?
• Neutral Sentiment: Recent coverage also notes that the broader market and semiconductor stocks have been choppy, with Broadcom’s cautious AI outlook pressuring memory names like Western Digital even after the company’s strong news flow. MU, SNDK, WDC: Memory Stocks Dip As Broadcom’s Forecast Dampens AI Sentiment, Retail Turns Buyer
• Negative Sentiment: One near-term headwind is profit-taking after Western Digital’s rapid run-up to all-time highs, which has led to some price weakness despite the longer-term bullish narrative. Western Digital (WDC) Stock Dips While Market Gains: Key Facts

Institutional Trading of Western Digital

Institutional investors and hedge funds have recently made changes to their positions in the company. AustralianSuper Pty Ltd purchased a new stake in shares of Western Digital in the third quarter valued at about $34,244,000. Cantor Fitzgerald L. P. raised its holdings in shares of Western Digital by 399.8% in the third quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider's stock valued at $3,900,000 after purchasing an additional 25,987 shares during the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of Western Digital by 75.4% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider's stock valued at $1,778,000 after purchasing an additional 4,068 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Western Digital in the fourth quarter valued at about $2,270,000. Finally, WESPAC Advisors LLC purchased a new stake in shares of Western Digital in the fourth quarter valued at about $793,000. Hedge funds and other institutional investors own 92.51% of the company's stock.

Western Digital Company Profile

(Get Free Report)

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.

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