PNC Financial Services Group Inc. Purchases 2,709 Shares of Western Digital Corporation $WDC

PNC Financial Services Group Inc. boosted its position in Western Digital Corporation (NASDAQ:WDC) by 5.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,406 shares of the data storage provider’s stock after buying an additional 2,709 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Western Digital were worth $6,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. ORG Partners LLC grew its stake in shares of Western Digital by 124.5% during the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock worth $25,000 after acquiring an additional 117 shares during the period. Rakuten Securities Inc. lifted its holdings in Western Digital by 4,070.0% during the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 407 shares during the last quarter. NewSquare Capital LLC boosted its position in Western Digital by 86.9% during the second quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 205 shares during the period. Cullen Frost Bankers Inc. boosted its position in Western Digital by 551.4% during the third quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 204 shares during the period. Finally, Grove Bank & Trust purchased a new position in shares of Western Digital in the third quarter worth about $30,000. 92.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WDC has been the topic of a number of recent research reports. The Goldman Sachs Group set a $250.00 price target on shares of Western Digital in a research note on Tuesday, February 3rd. Loop Capital increased their target price on Western Digital to $250.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Bank of America raised their price target on Western Digital from $197.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Benchmark lifted their price target on Western Digital from $115.00 to $163.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Cantor Fitzgerald boosted their price objective on Western Digital to $325.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $265.58.

Insider Activity at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 6,780 shares of Western Digital stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $270.49, for a total transaction of $1,833,922.20. Following the completion of the sale, the insider owned 136,538 shares of the company’s stock, valued at $36,932,163.62. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Roxanne Oulman sold 1,800 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $154.42, for a total value of $277,956.00. Following the completion of the transaction, the director owned 3,863 shares of the company’s stock, valued at $596,524.46. The trade was a 31.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 70,522 shares of company stock worth $17,661,708 in the last three months. 0.18% of the stock is owned by insiders.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Monetizing SanDisk stake and swapping shares for debt should accelerate deleveraging and improve financial flexibility — a clear balance-sheet positive that investors have cheered. Western Digital to sell $3.17 billion stake in Sandisk
• Positive Sentiment: Management says 2026 hard-drive production is sold out amid surging demand from AI data centers — supports revenue visibility and pricing power for enterprise / hyperscale HDDs. Western Digital Sold Out All 2026 Hard Drive Production as AI Centers Scramble
• Positive Sentiment: Zacks added WDC to its Rank #1 (Strong Buy) growth list, a signal that some quant/retail models see further upside. Best Growth Stocks to Buy for February 19th
• Positive Sentiment: Conversion of Series A preferred shares simplifies capital structure (reduces complexity for investors and may lower future financing friction). Western Digital Converts Preferred Shares, Simplifying Capital Structure
• Neutral Sentiment: Retail product promotions (e.g., deeply discounted 16TB Elements external drive) boost consumer-channel sales but are unlikely to move the stock materially relative to enterprise AI demand. WD’s 16TB Elements External Hard Drive Delivers Maximum Storage at Minimum Cost
• Neutral Sentiment: Coverage pieces and valuation checks highlight the recent multi-period rally; useful context but not a direct catalyst. Western Digital (WDC) Valuation Check
• Neutral Sentiment: Reports indicate the Sandisk stake sale is being executed via a secondary offering and some shares will be exchanged for debt — preserves Sandisk operations (SanDisk not raising proceeds) while giving WDC liquidity. Discount and structure details may matter to timing. Sandisk (SNDK) Stock: Western Digital Dumps $3.17 Billion Position at a Discount
• Negative Sentiment: Significant insider selling (many executives have sold shares recently) and some large institutional position reductions create potential perception risk and could weigh on sentiment. Western Digital climbs as Sandisk stake sale boosts debt-reduction outlook
• Negative Sentiment: The Sandisk secondary was priced at a discount and WDC will retain only part of its stake — while the move reduces debt, the discounted sale and large offering can create short-term selling pressure. Western Digital to sell ~$3.2B of SanDisk stock in secondary deal
• Negative Sentiment: Median analyst price target coverage shows dispersion and a median below some recent levels — implies upside is not unanimous and could limit near-term gains. Analyst ratings and price targets

Western Digital Price Performance

Shares of NASDAQ WDC opened at $284.67 on Friday. The stock’s 50-day simple moving average is $225.70 and its two-hundred day simple moving average is $156.96. Western Digital Corporation has a twelve month low of $28.83 and a twelve month high of $309.90. The firm has a market capitalization of $96.51 billion, a P/E ratio of 28.55, a P/E/G ratio of 0.68 and a beta of 1.80. The company has a quick ratio of 1.19, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.20. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the company posted $1.77 EPS. The company’s revenue for the quarter was up 25.2% on a year-over-year basis. As a group, equities analysts anticipate that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Thursday, March 5th will be given a dividend of $0.125 per share. The ex-dividend date is Thursday, March 5th. This represents a $0.50 annualized dividend and a dividend yield of 0.2%. Western Digital’s dividend payout ratio (DPR) is 5.02%.

Western Digital Company 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.