Western Digital Corporation $WDC Shares Newly Acquired by Renasant Bank

Renasant Bank acquired a new stake in Western Digital Corporation (NASDAQ:WDC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,921 shares of the data storage provider’s stock, valued at approximately $873,000.

A number of other hedge funds have also recently made changes to their positions in the business. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Western Digital during the 2nd quarter valued at approximately $28,000. Dunhill Financial LLC purchased a new position in Western Digital in the 2nd quarter worth approximately $29,000. Valley National Advisers Inc. boosted its stake in Western Digital by 182.6% in the 3rd quarter. Valley National Advisers Inc. now owns 65 shares of the data storage provider’s stock worth $30,000 after purchasing an additional 42 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Western Digital in the 2nd quarter worth approximately $31,000. Finally, Valley Wealth Managers Inc. bought a new position in Western Digital in the 1st quarter worth approximately $32,000. Institutional investors own 92.51% of the company’s stock.

Western Digital News Summary

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

• Positive Sentiment: Western Digital shares climbed as investors bought back into the stock following the recent decline; peer storage names also rallied, suggesting a sector-wide rebound contributed. Western Digital climbs amid rebound from recent selloff
• Positive Sentiment: Coverage highlights Western Digital’s exposure to AI-driven storage demand, including cloud growth and adoption of higher-capacity hard drives, with strong growth prospects cited for fiscal 2027. This supports the longer-term bull case, though it is not a new company announcement. Western Digital and the AI storage boom
• Neutral Sentiment: A short-interest report says short interest was zero shares as of November 10, despite describing it as a significant increase. The figures appear inconsistent and do not provide clear evidence of short-covering as a catalyst.
• Negative Sentiment: Law firm Levi & Korsinsky announced an investigation into possible fiduciary-duty breaches by certain Western Digital officers and directors. The notice does not establish wrongdoing, but may add a legal and reputational overhang. Shareholder investigation announcement

Insiders Place Their Bets

In related news, insider Cynthia L. Tregillis sold 1,007 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $478.36, for a total transaction of $481,708.52. Following the sale, the insider owned 112,155 shares of the company’s stock, valued at $53,650,465.80. This represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 1,795 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $459.87, for a total transaction of $825,466.65. Following the sale, the insider directly owned 80,571 shares in the company, valued at approximately $37,052,185.77. The trade was a 2.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 5,436 shares of company stock valued at $2,440,664. 0.20% of the stock is currently owned by insiders.

Western Digital Trading Down 0.2%

Shares of Western Digital stock opened at $289.20 on Wednesday. The stock has a 50 day moving average of $400.13 and a 200 day moving average of $419.44. Western Digital Corporation has a 12 month low of $132.43 and a 12 month high of $799.87. The firm has a market cap of $108.25 billion, a PE ratio of 11.22, a PEG ratio of 1.02 and a beta of 2.27.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, October 22nd. The data storage provider reported $4.64 earnings per share for the quarter, beating the consensus estimate of $4.11 by $0.53. Western Digital had a return on equity of 55.62% and a net margin of 69.20%. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter last year, the business posted $1.78 EPS. The firm’s revenue for the quarter was up 55.5% compared to the same quarter last year. As a group, equities research analysts forecast that Western Digital Corporation will post 23.62 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, December 4th will be issued a $0.1750 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Western Digital’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, December 4th. Western Digital’s payout ratio is 2.33%.

Analyst Ratings Changes

WDC has been the topic of several recent analyst reports. Wedbush lifted their price objective on shares of Western Digital from $540.00 to $650.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Wall Street Zen downgraded shares of Western Digital from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. TD Cowen dropped their target price on shares of Western Digital from $540.00 to $430.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Citigroup cut their target price on shares of Western Digital from $740.00 to $660.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Western Digital from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $591.04.

About Western Digital

Western Digital Corporation (NASDAQ: WDC) develops and supplies hard disk drives (HDDs) and related data-storage products. Its drives serve data centers and cloud providers, as well as businesses and consumers who need storage for computers, network-attached storage systems, surveillance and other applications. Its product brands include WD and Ultrastar. Founded in 1970, the company began as an electronics and semiconductor business before expanding into data storage. In February 2025, Western Digital completed the separation of its flash-memory business into the independently traded SanDisk Corporation, leaving Western Digital focused on HDDs.