Integrity Financial Corp WA Makes New Investment in Western Digital Corporation $WDC

Integrity Financial Corp WA purchased a new position in shares of Western Digital Corporation (NASDAQ:WDC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,273 shares of the data storage provider’s stock, valued at approximately $219,000.

Several other institutional investors also recently added to or reduced their stakes in WDC. Norges Bank acquired a new position in Western Digital during the fourth quarter worth approximately $788,729,000. Fred Alger Management LLC increased its position in Western Digital by 4,923.9% during the third 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 period. Soroban Capital Partners LP increased its position in Western Digital by 1,926.3% during the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after buying an additional 2,910,062 shares during the period. Polar Capital Holdings Plc acquired a new position in shares of Western Digital in the third quarter valued at approximately $221,800,000. Finally, National Pension Service increased its holdings in shares of Western Digital by 267.6% in the fourth quarter. National Pension Service now owns 1,691,659 shares of the data storage provider’s stock valued at $291,422,000 after purchasing an additional 1,231,477 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Key Western Digital News

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

• Positive Sentiment: JPMorgan raised its price target on Western Digital from $530 to $650 and reiterated an overweight rating, signaling more upside potential for the shares. Article Title
• Positive Sentiment: The company announced a Sandisk share exchange with institutional investors, a move that has been interpreted as supportive of the stock and part of a broader capital strategy. Article Title
• Positive Sentiment: Western Digital highlighted AI-focused storage innovation at Computex, reinforcing the market’s view that it is well positioned to benefit from data-center and AI infrastructure spending. Article Title
• Positive Sentiment: Analysts also pointed to strong free cash flow, a larger dividend, and a new $4 billion buyback plan, which supports the investment case by showing confidence in cash generation and shareholder returns. Article Title
• Neutral Sentiment: Western Digital has been outperforming the broader market over the past year, and brokerages still generally rate the stock a moderate buy, which supports sentiment but is more of a confirmation than a new catalyst. Article Title
• Negative Sentiment: One recent market note said WDC slipped with the broader market after a hotter-than-expected CPI report revived rate-hike concerns, showing that macro pressure can still weigh on the stock at times. Article Title

Western Digital Price Performance

Western Digital stock opened at $562.92 on Friday. Western Digital Corporation has a 1-year low of $54.60 and a 1-year high of $602.54. The company has a market cap of $194.03 billion, a PE ratio of 33.61 and a beta of 2.13. The stock’s 50 day moving average price is $447.23 and its 200 day moving average price is $307.91.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the previous year, the business earned $1.36 earnings per share. The company’s revenue for the quarter was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities research analysts anticipate that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. This is a boost from Western Digital’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 5th. Western Digital’s dividend payout ratio (DPR) is presently 3.58%.

Wall Street Analysts Forecast Growth

WDC has been the topic of a number of recent research reports. Zacks Research raised Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Morgan Stanley reissued an “overweight” rating and issued a $488.00 target price on shares of Western Digital in a report on Friday, May 1st. Wall Street Zen raised Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Rosenblatt Securities boosted their target price on Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Cantor Fitzgerald boosted their target price on Western Digital to $660.00 and gave the company an “overweight” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Western Digital presently has an average rating of “Moderate Buy” and a consensus price target of $443.71.

Insiders Place Their Bets

In other Western Digital news, insider Vidyadhara K. Gubbi sold 2,475 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the sale, the insider directly owned 85,154 shares in the company, valued at approximately $47,366,060.96. The trade was a 2.82% 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 this link. Also, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer owned 598,150 shares in the company, valued at approximately $246,342,096. The trade was 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 have sold 29,322 shares of company stock valued at $12,768,550 in the last three months. 0.18% of the stock is owned by corporate insiders.

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.