Crossmark Global Holdings Inc. Reduces Stock Position in Western Digital Corporation $WDC

Crossmark Global Holdings Inc. reduced its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 217,272 shares of the data storage provider’s stock after selling 18,170 shares during the quarter. Crossmark Global Holdings Inc. owned 0.06% of Western Digital worth $26,086,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Western Digital by 7.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after acquiring an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Western Digital by 229.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after purchasing an additional 967 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Western Digital during the second quarter worth about $307,000. Envestnet Asset Management Inc. grew its stake in Western Digital by 78.7% in the second quarter. Envestnet Asset Management Inc. now owns 208,778 shares of the data storage provider’s stock worth $13,360,000 after purchasing an additional 91,966 shares in the last quarter. Finally, Keybank National Association OH bought a new stake in Western Digital in the second quarter valued at about $298,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $261.30 on Thursday. Western Digital Corporation has a 12-month low of $28.83 and a 12-month high of $309.90. The company has a market cap of $88.59 billion, a PE ratio of 26.21, a P/E/G ratio of 0.58 and a beta of 1.76. The stock has a 50 day simple moving average of $243.52 and a 200-day simple moving average of $170.07. The company has a current ratio of 1.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.20. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.77 earnings per share. On average, equities research analysts forecast that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WDC shares. Mizuho lifted their target price on Western Digital to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Barclays lifted their price objective on shares of Western Digital from $240.00 to $325.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. UBS Group set a $306.00 target price on shares of Western Digital in a research note on Friday, January 30th. Argus set a $300.00 price target on shares of Western Digital in a research report on Tuesday, February 3rd. Finally, Citigroup lifted their price target on shares of Western Digital to $325.00 and gave the company a “buy” rating in a report on Monday, February 2nd. One equities research 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $265.58.

Insider Transactions at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $255.44, for a total transaction of $5,108,800.00. Following the transaction, the chief executive officer directly owned 623,586 shares in the company, valued at approximately $159,288,807.84. This trade represents a 3.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cynthia L. Tregillis sold 214 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $286.11, for a total value of $61,227.54. Following the completion of the sale, the insider directly owned 133,781 shares in the company, valued at $38,276,081.91. This represents a 0.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 64,805 shares of company stock valued at $16,846,612. Company insiders own 0.18% of the company’s stock.

Key Western Digital News

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

• Positive Sentiment: Investor note argues WDC is being re-rated as AI workloads drive multi-year demand for high-capacity nearline HDDs; company says 2026 HDD capacity is sold out, guided for strong revenue and gross-margin expansion, and has tightened its capital/portfolio focus — this underpins the bullish thesis for durable enterprise/cloud demand. Read More.
• Positive Sentiment: Market write-ups tie WDC’s rebound to renewed investor focus on AI video and hyperscaler storage needs after a pullback; momentum-driven snap-back + rotation into higher-beta storage names supported the move. Read More.
• Positive Sentiment: Coverage highlights how AI-generated video and other AI workloads can materially expand capacity requirements vs. traditional data, reinforcing expectations for sustained nearline HDD demand — a direct tailwind for WDC’s product mix. Read More.
• Positive Sentiment: UBS raised memory-price forecasts and price targets after industry meetings, signaling broader cloud/datacenter spend strength — a supportive macro backdrop for storage suppliers (though impact differs across HDD/SSD/memory product lines). Read More.
• Neutral Sentiment: WDC’s presentation at the Morgan Stanley TMT conference contained management commentary reinforcing visibility into hyperscaler plans and capacity allocation — useful for modeling but not a new catalyst by itself. Read More.
• Neutral Sentiment: Brokerage consensus remains constructive (consensus “Moderate Buy” / many recent buy/outperform ratings), which supports sentiment but could limit near-term upside if already priced in. Read More.
• Negative Sentiment: Sector-wide volatility: semiconductor/memory-related sell-offs tied to Middle East tensions and smartphone weakness show macro/geopolitical risk that can pressure high-multiple tech names and trigger short-term pullbacks in storage stocks. Read More.
• Negative Sentiment: Significant insider selling has been reported recently, which some investors view as a governance/conviction concern even as company fundamentals improve — a potential psychological headwind for the stock. Read More.

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.