Strs Ohio Sells 21,427 Shares of Western Digital Corporation $WDC

Strs Ohio lowered its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,850 shares of the data storage provider’s stock after selling 21,427 shares during the quarter. Strs Ohio’s holdings in Western Digital were worth $26,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Western Digital by 7.7% during the first 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 purchasing an additional 3,019 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Western Digital by 229.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after purchasing an additional 967 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Western Digital during the second quarter valued at about $307,000. Cresset Asset Management LLC bought a new stake in Western Digital during the second quarter valued at about $292,000. Finally, Federated Hermes Inc. boosted its position in Western Digital by 55.3% during the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after purchasing an additional 845 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Western Digital Stock Down 0.6%

Shares of WDC stock opened at $432.03 on Friday. The stock has a 50 day moving average of $314.33 and a 200 day moving average of $233.99. The company has a current ratio of 1.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The stock has a market cap of $146.48 billion, a P/E ratio of 25.79, a P/E/G ratio of 0.90 and a beta of 2.10. Western Digital Corporation has a twelve month low of $43.60 and a twelve month high of $446.62.

Western Digital (NASDAQ:WDC) last announced 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 company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a return on equity of 49.24% 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 last year, the business earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, sell-side analysts expect that Western Digital Corporation will post 8.68 EPS for the current year.

Western Digital Increases Dividend

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

Insider Buying and Selling

In related news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $255.44, for a total transaction of $5,108,800.00. Following the completion of the transaction, the chief executive officer directly owned 623,586 shares in the company, valued at approximately $159,288,807.84. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vidyadhara K. Gubbi sold 10,148 shares of Western Digital stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $270.31, for a total value of $2,743,105.88. Following the transaction, the insider owned 107,794 shares of the company’s stock, valued at approximately $29,137,796.14. This represents a 8.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 92,711 shares of company stock valued at $24,300,404 in the last ninety days. Insiders own 0.18% of the company’s stock.

Trending Headlines about Western Digital

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

• Positive Sentiment: WDC beat expectations: Q3 EPS $2.72 and revenue $3.34B, both above consensus, and management raised FY?Q4 guidance (EPS and revenue) — this underpins the bullish case for continued AI/cloud storage demand. Earnings & press materials
• Positive Sentiment: Multiple analyst upgrades/target raises followed the quarter — Citi hiked its target to $500 (Buy) citing stronger visibility into AI-driven HDD demand, lifting investor optimism. Citi raises target to $500
• Positive Sentiment: Other firms (Rosenblatt, TD Cowen and others) boosted targets or reiterated Buy as AI/data?center demand drives margin expansion and share?buyback capacity; the company also announced a quarterly dividend increase, signalling confidence in cash flow.
• Neutral Sentiment: Industry signal — peers (SanDisk/Seagate) also reported strong results and demand commentary, confirming sector?wide AI storage tailwinds but raising questions about how much of that is already priced in. Reuters: sector demand
• Negative Sentiment: Market reaction was mixed — the stock slipped after the beat as some traders engaged in “buy the rumor, sell the news” profit?taking following an enormous YTD run; elevated expectations mean strong results may not produce further immediate upside. Yahoo: stock falls despite beat
• Negative Sentiment: Not all analyst moves are bullish: UBS raised its target to $375 but kept a Neutral rating — that level implies downside from current prices and provides a near?term anchor for traders focused on risk management. Benzinga: UBS target

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WDC. Mizuho set a $470.00 price objective on Western Digital in a research report on Friday. Wells Fargo & Company raised their price objective on Western Digital from $335.00 to $500.00 and gave the company an “overweight” rating in a research report on Friday. Argus set a $300.00 price objective on Western Digital in a research report on Tuesday, February 3rd. Sanford C. Bernstein raised Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price objective on the stock in a research report on Tuesday, March 31st. Finally, Truist Financial set a $310.00 price objective on Western Digital in a research report on Tuesday, February 3rd. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $389.74.

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.