Harel Insurance Investments & Financial Services Ltd. Purchases Shares of 1,499 Western Digital Corporation $WDC

Harel Insurance Investments & Financial Services Ltd. purchased a new position in Western Digital Corporation (NASDAQ:WDC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,499 shares of the data storage provider’s stock, valued at approximately $405,000.

Other institutional investors have also recently made changes to their positions in the company. Hudson Canyon Capital Management purchased a new position in shares of Western Digital during the 1st quarter valued at about $1,447,000. Ethos Financial Group LLC increased its holdings in Western Digital by 8.0% in the 1st quarter. Ethos Financial Group LLC now owns 3,012 shares of the data storage provider’s stock worth $815,000 after acquiring an additional 222 shares in the last quarter. Advisors Preferred LLC purchased a new stake in Western Digital in the 1st quarter worth approximately $1,502,000. Checchi Capital Advisers LLC bought a new stake in Western Digital during the 1st quarter worth approximately $220,000. Finally, ABC Arbitrage SA bought a new stake in Western Digital during the 1st quarter worth approximately $1,548,000. Institutional investors own 92.51% of the company’s stock.

More Western Digital News

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

• Negative Sentiment: Western Digital is falling with other memory and storage stocks such as Micron, SanDisk, Seagate, and SK Hynix as traders take profits after a sharp run-up in AI-related names. Nasdaq Slips as Chip Stocks Come Under Pressure
• Negative Sentiment: Sentiment weakened further after reports of a large Shanghai IPO filing by Chinese memory rival CXMT, which raised fears of new competition in an already crowded market. Why Is Western Digital Stock Falling on Thursday?
• Neutral Sentiment: Despite the selloff, some analysts still argue that AI storage demand remains a strong long-term tailwind for Western Digital and that the recent weakness may be more about near-term profit-taking than a deterioration in fundamentals. Everyone’s Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Neutral Sentiment: Recent bullish coverage also points to Western Digital’s strong revenue growth, expanding margins, and earnings beat, which could help limit downside if investors refocus on fundamentals. Which Storage Stock Is Best Positioned to Win the AI Memory War?

Insider Activity at Western Digital

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were 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 $246,342,096. The trade was a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the transaction, the insider directly owned 85,154 shares of the company’s stock, valued at $47,366,060.96. This trade represents a 2.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 29,322 shares of company stock valued at $12,768,550. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on WDC. Wall Street Zen upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. The Goldman Sachs Group restated a “neutral” rating and set a $400.00 price objective on shares of Western Digital in a research report on Friday, May 1st. Mizuho lifted their target price on shares of Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Fox Advisors downgraded shares of Western Digital from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Finally, UBS Group reiterated a “neutral” rating and issued a $560.00 price target on shares of Western Digital in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $520.32.

Western Digital Price Performance

WDC stock opened at $466.81 on Friday. Western Digital Corporation has a 1-year low of $66.04 and a 1-year high of $799.87. The business has a 50 day simple moving average of $560.95 and a two-hundred day simple moving average of $383.94. The company has a market capitalization of $160.90 billion, a price-to-earnings ratio of 27.87 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the business posted $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. Sell-side analysts anticipate that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were issued a $0.15 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s payout ratio is presently 3.58%.

About Western Digital

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.