RFG Advisory LLC Invests $495,000 in Western Digital Corporation $WDC

RFG Advisory LLC purchased a new position in shares of Western Digital Corporation (NASDAQ:WDC) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,875 shares of the data storage provider’s stock, valued at approximately $495,000.

Other hedge funds have also bought and sold shares of the company. WCM Investment Management LLC bought a new stake in Western Digital in the third quarter valued at about $791,317,000. Fred Alger Management LLC lifted its holdings in Western Digital by 4,923.9% during the 3rd quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock worth $409,049,000 after buying an additional 3,339,225 shares during the last quarter. Soroban Capital Partners LP grew its position in shares of Western Digital by 1,926.3% in the 2nd quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after acquiring an additional 2,910,062 shares in the last quarter. Polar Capital Holdings Plc acquired a new position in shares of Western Digital in the 3rd quarter worth approximately $221,800,000. Finally, AQR Capital Management LLC increased its holdings in shares of Western Digital by 175.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,232,071 shares of the data storage provider’s stock valued at $78,347,000 after acquiring an additional 784,645 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WDC has been the topic of several research analyst reports. Bank of America raised their price objective on Western Digital to $495.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Robert W. Baird increased their target price on shares of Western Digital from $310.00 to $450.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Cantor Fitzgerald raised their price target on shares of Western Digital to $660.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. UBS Group lifted their price target on shares of Western Digital from $350.00 to $375.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Finally, Susquehanna reiterated a “neutral” rating and set a $285.00 price objective on shares of Western Digital in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $395.83.

Western Digital Stock Performance

Shares of WDC opened at $480.09 on Monday. The firm has a fifty day moving average of $325.84 and a 200-day moving average of $242.16. The company has a market cap of $165.48 billion, a price-to-earnings ratio of 28.66 and a beta of 2.10. Western Digital Corporation has a 1 year low of $43.88 and a 1 year high of $483.87.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data 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 firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. Western Digital’s quarterly revenue was up 45.5% compared to the same quarter last year. During the same period last year, the firm posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Analysts predict that Western Digital Corporation will post 9.57 EPS for the current year.

Western Digital Increases Dividend

The company also recently declared 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. The ex-dividend date is Friday, June 5th. This is an increase from Western Digital’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Western Digital’s dividend payout ratio (DPR) is 2.99%.

Insider Activity

In related news, CEO Irving Tan sold 20,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $411.84, for a total value of $8,236,800.00. Following the completion of the transaction, the chief executive officer directly owned 598,150 shares of the company’s stock, valued at $246,342,096. This represents a 3.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 363 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $377.09, for a total value of $136,883.67. Following the completion of the sale, the insider owned 120,023 shares in the company, valued at approximately $45,259,473.07. This represents a 0.30% 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 90 days, insiders have sold 53,679 shares of company stock valued at $18,049,314. Insiders own 0.18% of the company’s stock.

Western Digital News Summary

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

• Positive Sentiment: Wall Street analysts remain upbeat on Western Digital, with firms lifting price targets and Zacks upgrading the stock to Strong Buy, signaling rising confidence in demand trends and earnings momentum. Zacks Research upgrade
• Positive Sentiment: Coverage is highlighting Western Digital as a beneficiary of the AI memory and data-center storage supercycle, with demand for high-capacity storage solutions expected to stay elevated. Motley Fool article
• Positive Sentiment: The company’s recent earnings beat, raised guidance, and multiple target increases from analysts continue to support the stock’s sharp year-to-date gain and keep momentum investors engaged. Yahoo Finance article
• Neutral Sentiment: Western Digital also announced progress on simplifying its structure by unwinding its remaining Sandisk stake through share swaps and future distributions, which may help investors better value WDC as a more focused storage pure play. Yahoo Finance share swap article

About Western Digital

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.