Family Investment Center Inc. Decreases Stake in Western Digital Corporation $WDC

Family Investment Center Inc. cut its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 64.6% in the 1st quarter, Holdings Channel reports. The fund owned 1,040 shares of the data storage provider’s stock after selling 1,896 shares during the period. Family Investment Center Inc.’s holdings in Western Digital were worth $281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of WDC. AustralianSuper Pty Ltd acquired a new stake in shares of Western Digital during the third quarter worth approximately $34,244,000. Cantor Fitzgerald L. P. raised its holdings in 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 acquiring an additional 25,987 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in Western Digital by 75.4% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider’s stock valued at $1,778,000 after acquiring an additional 4,068 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Western Digital during the 4th quarter valued at $2,270,000. Finally, WESPAC Advisors LLC acquired a new position in Western Digital during the 4th quarter worth $793,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Western Digital

In other news, insider Vidyadhara K. Gubbi sold 4,674 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the completion of the transaction, the insider directly owned 90,041 shares of the company’s stock, valued at approximately $39,905,270.79. This represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction that occurred 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 sale, the insider owned 116,643 shares in the company, valued at $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. Over the last three months, insiders sold 29,322 shares of company stock worth $12,768,550. Insiders own 0.18% of the company’s stock.

Western Digital Price Performance

WDC stock opened at $638.72 on Wednesday. The firm has a market cap of $220.15 billion, a price-to-earnings ratio of 38.13 and a beta of 2.13. Western Digital Corporation has a 1-year low of $62.94 and a 1-year high of $799.87. The firm has a fifty day moving average price of $529.13 and a two-hundred day moving average price of $352.48.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping 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 period last year, the firm posted $1.36 EPS. The company’s revenue for the quarter was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, analysts expect that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were issued 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 dividend payout ratio is 3.58%.

Key Headlines Impacting Western Digital

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

• Positive Sentiment: Melius Research initiated coverage of Western Digital with a Buy rating and a price target implying significant upside, boosting investor confidence in the stock. Article Title
• Positive Sentiment: Analysts highlighted about 55% upside for Western Digital and noted bullish options flow, with call buying outpacing put buying, suggesting traders are positioning for further gains. Article Title
• Positive Sentiment: Western Digital has been screening as a top momentum name in AI infrastructure, helped by strong earnings trends and continued demand tied to storage needs. Article Title
• Neutral Sentiment: Recent market commentary says Western Digital remains in a strong bullish trend and is trading well above its 200-day moving average, which supports the stock technically but does not add a major new catalyst. Article Title

Analysts Set New Price Targets

WDC has been the subject of several research analyst reports. Mizuho boosted their target price on shares of Western Digital from $550.00 to $685.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Weiss Ratings cut shares of Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday. TD Cowen lifted their price target on Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Bank of America boosted their price objective on Western Digital to $495.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Cantor Fitzgerald upped 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. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $484.04.

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.