Western Digital Corporation $WDC Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 124,156 shares of the data storage provider’s stock after selling 15,376 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Western Digital were worth $33,583,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of WDC. Geneos Wealth Management Inc. grew its stake in Western Digital by 167.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 535 shares of the data storage provider’s stock valued at $145,000 after purchasing an additional 335 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Western Digital during the 1st quarter worth approximately $405,000. Hudson Canyon Capital Management acquired a new position in shares of Western Digital in the 1st quarter valued at approximately $1,447,000. Ethos Financial Group LLC boosted its stake in shares of Western Digital by 8.0% during the 1st quarter. Ethos Financial Group LLC now owns 3,012 shares of the data storage provider’s stock valued at $815,000 after buying an additional 222 shares during the last quarter. Finally, Advisors Preferred LLC purchased a new position in shares of Western Digital during the 1st quarter valued at approximately $1,502,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Stock Performance

NASDAQ WDC opened at $513.84 on Thursday. Western Digital Corporation has a one year low of $65.79 and a one year high of $799.87. The company has a 50-day simple moving average of $560.89 and a 200-day simple moving average of $381.93. The firm has a market capitalization of $177.11 billion, a PE ratio of 30.68 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the business earned $1.36 earnings per share. Western Digital’s quarterly revenue was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities analysts forecast 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. Stockholders of record on Friday, June 5th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is a boost from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 5th. Western Digital’s dividend payout ratio is currently 3.58%.

Insider Buying and Selling

In related news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the transaction, the chief executive officer owned 598,150 shares in the company, valued at $246,342,096. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 432 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $545.60, for a total value of $235,699.20. Following the transaction, the insider owned 116,643 shares of the company’s stock, valued at approximately $63,640,420.80. The trade was a 0.37% decrease in their ownership of the stock. 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 sold 29,322 shares of company stock worth $12,768,550. Company insiders own 0.18% of the company’s stock.

Western Digital News Roundup

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

• Positive Sentiment: Some analysts remain constructive on Western Digital, with one report suggesting the stock could still have meaningful upside from current levels thanks to improving memory pricing and AI-driven demand. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here
• Positive Sentiment: Several market commentary pieces argue that Western Digital and other memory stocks may look attractive after the recent sell-off because of lower valuations, better supply-demand trends, and ongoing AI-related storage demand. Why You Must Buy These 4 Memory Stocks After the Recent Sell-Off
• Neutral Sentiment: Western Digital’s upcoming earnings preview is drawing attention, but no new company-specific results were reported in these articles. Western Digital’s Quarterly Earnings Preview: What You Need to Know
• Negative Sentiment: Shares are being hit by broad profit-taking across memory stocks after a sharp rally this year, with traders locking in gains in Western Digital, Micron, SanDisk, and peers. SK Hynix Drops 5%, SanDisk Slides 6%, Western Digital Slips 4% as Traders Take Profits in Memory Stocks
• Negative Sentiment: Western Digital also fell after CXMT’s reported $10 billion IPO plans raised fears of a stronger new competitor entering the memory market, adding to concerns about future pricing and margins. Western Digital Stock Tumbles as CXMT Targets $10 Billion Shanghai IPO
• Negative Sentiment: Another market wrap noted that Western Digital was down sharply as the broader chip selloff weighed on the memory sector. Western Digital (WDC) Stock Dips While Market Gains: Key Facts

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Cantor Fitzgerald increased their price objective on shares of Western Digital from $660.00 to $900.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Bank of America upped their price objective on Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Fox Advisors downgraded Western Digital from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Finally, Mizuho lifted their target price on Western Digital from $550.00 to $685.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $520.32.

Western Digital Company 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.