Kaufman Rossin Wealth LLC Sells 762 Shares of Western Digital Corporation $WDC

Kaufman Rossin Wealth LLC decreased its position in shares of Western Digital Corporation (NASDAQ:WDC) by 31.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,669 shares of the data storage provider’s stock after selling 762 shares during the period. Kaufman Rossin Wealth LLC’s holdings in Western Digital were worth $451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in WDC. AustralianSuper Pty Ltd bought a new position in shares of Western Digital in the third quarter worth about $34,244,000. Cantor Fitzgerald L. P. grew its holdings in shares of Western Digital by 399.8% during the 3rd 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 grew its holdings in shares of 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 purchasing an additional 4,068 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Western Digital during the 4th quarter worth approximately $2,270,000. Finally, WESPAC Advisors LLC acquired a new position in Western Digital during the 4th quarter worth approximately $793,000. 92.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Weiss Ratings upgraded shares of Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 15th. Zacks Research upgraded shares of Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Fox Advisors cut Western Digital from an “overweight” rating to an “equal weight” rating in a research note on Monday. Citigroup raised their price objective on Western Digital from $500.00 to $685.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, UBS Group boosted their price objective on Western Digital from $350.00 to $375.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $450.46.

Insider Buying and Selling

In other news, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the transaction, the director directly owned 3,903 shares in the company, valued at $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Irving Tan sold 20,000 shares of Western Digital 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 in the company, valued at approximately $246,342,096. This represents a 3.24% 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. Insiders sold a total of 29,322 shares of company stock valued at $12,768,550 over the last 90 days. 0.18% of the stock is owned by corporate insiders.

Western Digital Price Performance

WDC opened at $732.62 on Tuesday. Western Digital Corporation has a fifty-two week low of $58.66 and a fifty-two week high of $799.87. The company’s 50 day moving average price is $495.01 and its two-hundred day moving average price is $332.35. The firm has a market capitalization of $252.52 billion, a price-to-earnings ratio of 43.74 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion during 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%. The company’s revenue for the quarter was up 45.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, equities research analysts predict that Western Digital Corporation will post 9.6 EPS for the current year.

Western Digital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.60 annualized dividend and a yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.12. 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: Western Digital is benefiting from a broad rally in memory and storage stocks ahead of Micron’s earnings, with investors betting that AI infrastructure demand will keep pricing and shipments strong. Micron and Western Digital Rise 6%, SanDisk Gains 5% as Memory Stocks Rally Into Micron’s Earnings
• Positive Sentiment: JPMorgan recently raised its price target on Western Digital to $650 from $530 and kept an Overweight rating, citing improved earnings expectations. JPMorgan Lifts PT on Western Digital Corporation (WDC)
• Positive Sentiment: Recent coverage highlighted Western Digital as a major AI memory and storage beneficiary, with strong revenue growth and guidance suggesting the trend can continue. Don’t Forget About Western Digital Amid Sandisk Euphoria
• Neutral Sentiment: Western Digital remains a heavily watched stock, with investor attention rising as the AI storage theme keeps drawing traders into the name. Western Digital Corporation (WDC) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: One technical note said the shares are very overbought, which could mean a short-term pullback if momentum cools. Stock Of The Day: When Will Western Digital Reverse?
• Negative Sentiment: Fox Advisors downgraded Western Digital from Overweight to Equal Weight, which may temper some enthusiasm after the recent run-up. The Fly downgrade item
• Negative Sentiment: Western Digital also slipped more than the broader market in the latest session, suggesting some profit-taking after a very strong move. Why Western Digital (WDC) Dipped More Than Broader Market Today

Western Digital 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.