Western Digital Corporation $WDC Stock Bought by New York Life Investment Management LLC

New York Life Investment Management LLC grew its holdings in Western Digital Corporation (NASDAQ:WDC) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,604 shares of the data storage provider’s stock after acquiring an additional 2,432 shares during the quarter. New York Life Investment Management LLC’s holdings in Western Digital were worth $24,361,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Gen Wealth Partners Inc boosted its holdings in Western Digital by 25,700.0% in the 3rd quarter. Gen Wealth Partners Inc now owns 258 shares of the data storage provider’s stock valued at $117,000 after purchasing an additional 257 shares during the period. 71 West Capital Partners grew its position in shares of Western Digital by 1.4% during the 3rd quarter. 71 West Capital Partners now owns 2,503 shares of the data storage provider’s stock worth $1,138,000 after purchasing an additional 35 shares in the last quarter. Gryphon Financial Partners LLC grew its position in shares of Western Digital by 15.5% during the 3rd quarter. Gryphon Financial Partners LLC now owns 679 shares of the data storage provider’s stock worth $309,000 after purchasing an additional 91 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Western Digital by 4.4% during the third quarter. Retirement Systems of Alabama now owns 75,610 shares of the data storage provider’s stock worth $34,362,000 after purchasing an additional 3,201 shares during the period. Finally, Fulcrum Asset Management LLP increased its holdings in shares of Western Digital by 18.0% during the third quarter. Fulcrum Asset Management LLP now owns 6,674 shares of the data storage provider’s stock worth $3,027,000 after purchasing an additional 1,016 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Stock Down 0.2%

Shares of Western Digital stock opened at $289.20 on Wednesday. The company has a market capitalization of $108.25 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.02 and a beta of 2.27. Western Digital Corporation has a 12-month low of $132.43 and a 12-month high of $799.87. The firm’s 50-day moving average price is $400.13 and its two-hundred day moving average price is $419.44.

Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, October 22nd. The data storage provider reported $4.64 EPS for the quarter, beating the consensus estimate of $4.11 by $0.53. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. Western Digital had a net margin of 69.20% and a return on equity of 55.62%. The business’s quarterly revenue was up 55.5% compared to the same quarter last year. During the same period last year, the firm earned $1.78 EPS. On average, sell-side analysts expect that Western Digital Corporation will post 23.62 earnings per share for the current year.

Western Digital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, December 4th will be given a dividend of $0.1750 per share. The ex-dividend date is Friday, December 4th. This represents a $0.70 annualized dividend and a dividend yield of 0.2%. This is a positive change from Western Digital’s previous quarterly dividend of $0.15. Western Digital’s dividend payout ratio (DPR) is 2.33%.

Insider Activity at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 807 shares of the business’s stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $380.00, for a total transaction of $306,660.00. Following the completion of the transaction, the insider directly owned 108,928 shares in the company, valued at $41,392,640. The trade was a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $459.87, for a total value of $825,466.65. Following the sale, the insider owned 80,571 shares of the company’s stock, valued at $37,052,185.77. The trade was a 2.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,436 shares of company stock worth $2,440,664 in the last quarter. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. 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 research report on Friday, October 23rd. Robert W. Baird set a $900.00 price target on Western Digital in a research report on Friday, October 23rd. UBS Group reissued a “buy” rating and set a $625.00 price target on shares of Western Digital in a research report on Friday, October 23rd. Evercore restated an “outperform” rating on shares of Western Digital in a research note on Friday, October 23rd. Finally, Mizuho set a $490.00 price objective on Western Digital in a report on Friday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and an average target price of $591.04.

Trending Headlines about Western Digital

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

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.