Keebeck Wealth Management Takes Position in Western Digital Corporation $WDC

Keebeck Wealth Management acquired a new position in Western Digital Corporation (NASDAQ:WDC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,253 shares of the data storage provider’s stock, valued at approximately $339,000.

Several other large investors have also added to or reduced their stakes in WDC. China Universal Asset Management Co. Ltd. acquired a new stake in Western Digital in the fourth quarter valued at $2,270,000. WESPAC Advisors LLC acquired a new position in shares of Western Digital during the 4th quarter worth about $793,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Western Digital by 33.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,122,095 shares of the data storage provider’s stock valued at $193,303,000 after purchasing an additional 282,156 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Western Digital in the 4th quarter valued at about $20,889,000. Finally, World Investment Advisors grew its holdings in Western Digital by 145.8% during the fourth quarter. World Investment Advisors now owns 5,950 shares of the data storage provider’s stock worth $1,025,000 after purchasing an additional 3,529 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Key Headlines Impacting Western Digital

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

• Positive Sentiment: Memory-chip peers such as Micron, Sandisk, and SK Hynix were reported surging on continued enthusiasm for AI infrastructure spending and tight memory supply, which can lift sentiment for Western Digital as well. Article: Why Micron, Sandisk, and SK Hynix Are Surging—And How to Play It
• Positive Sentiment: Analysts highlighted Western Digital’s AI storage exposure and relatively stronger financial footing versus peers like Super Micro, reinforcing the stock’s appeal as an AI hardware play. Article: WDC vs. SMCI: Which AI Hardware Stock is the Smarter Investment Now?
• Positive Sentiment: A valuation piece argued that Western Digital still looks attractive on earnings and especially cheap on a cash-flow basis, suggesting the recent rally may have room to continue if AI demand remains strong. Article: Western Digital (WDC) Stock Looks Reasonable On Earnings While Cash Flow Looks Cheap
• Neutral Sentiment: One report said Western Digital reentered merger-focused discussion, but it did not provide a concrete transaction update, so the near-term stock impact is unclear. Article: Western Digital (WDC) Reenters Merger Focus, Where Does Fair Value Sit?
• Neutral Sentiment: Short-interest data showed no meaningful short position reported, which does not appear to be a major driver of the stock today.

Analyst Ratings Changes

WDC has been the topic of a number of recent analyst reports. Mizuho boosted their price target on Western Digital from $550.00 to $685.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Cantor Fitzgerald increased their price target on Western Digital from $660.00 to $900.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Sanford C. Bernstein raised shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price objective for the company in a research report on Tuesday, March 31st. Susquehanna raised their target price on shares of Western Digital from $360.00 to $500.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Western Digital has a consensus rating of “Moderate Buy” and an average price target of $520.32.

Western Digital Price Performance

WDC stock opened at $519.80 on Friday. The stock has a market capitalization of $179.16 billion, a price-to-earnings ratio of 31.03 and a beta of 2.11. The business’s fifty day moving average price is $564.90 and its two-hundred day moving average price is $397.06. Western Digital Corporation has a fifty-two week low of $66.51 and a fifty-two week high of $799.87.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the previous year, the business posted $1.36 earnings per share. Western Digital’s quarterly revenue was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Research analysts expect that Western Digital Corporation will post 9.61 EPS for the current year.

Western Digital Increases Dividend

The firm also recently disclosed 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 of this dividend 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%.

Insider Buying and Selling at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly 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. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 28,959 shares of company stock worth $12,631,666. 0.18% of the stock is currently owned by company insiders.

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.