First Citizens Bank & Trust 13F: Adds $6M to WDC Stake

First Citizens Bank & Trust has significantly increased its position in Western Digital Corporation (NasdaqGS: WDC), as per its latest 13F filing with the SEC. The bank added 13,163 shares, boosting its holdings by 224.97% to a total of 19,014 shares, valued at approximately $8.64 million. This update reflects the bank's holdings as of the reporting period and may not represent its current position.

What Changed in First Citizens Bank & Trust's Western Digital Position

First Citizens Bank & Trust's move to increase its stake in Western Digital by 224.97% involved adding 13,163 shares to its portfolio, bringing the total to 19,014 shares. The reported value of these holdings is about $8.64 million.

Western Digital Corporation Stock Down 7.1%

Shares of Western Digital Corporation are traded on the NasdaqGS. The company has a market capitalization of roughly $133.4 billion and a P/E ratio of 13.24, with a forward P/E of 10.77. Known for its volatility, Western Digital has a beta of 2.169. Over the past year, its stock has ranged from $117.23 to $799.87. The stock's 50-day moving average is $444.57, and its 200-day moving average is $409.74. The company maintains a current ratio of 1.329 and a quick ratio of 0.85, with a debt-to-equity ratio of 13.436.

Recent Earnings

In recent earnings, Western Digital reported revenue of approximately $12.92 billion, with a growth rate of 43.8%. The company achieved a net margin of 72.95% and a return on equity of 130.85%. Earnings per share (EPS) stood at $26.92. The next earnings report is expected on October 22, 2026.

Dividend

Western Digital offers a modest dividend yield of 0.17%, with a payout ratio of 1.86%. This provides a small return to shareholders in addition to potential capital gains.

About Western Digital Corporation

Western Digital Corporation, headquartered in San Jose, California, is a major player in the technology sector, specifically within the computer hardware industry. The company develops, manufactures, and sells data storage devices and solutions, including hard disk drives (HDDs) and related products, catering to markets across the United States, Asia, Europe, the Middle East, and Africa. Under the leadership of CEO Mr. Tiang Yew Tan, Western Digital employs around 40,000 people and collaborates with various partners to advance technology, including efforts in quantum computing.

Bottom Line

First Citizens Bank & Trust's substantial increase in its Western Digital stake is noteworthy for investors tracking institutional activity. Western Digital remains a significant player in the data storage market with a solid financial foundation, as seen in its recent earnings. While 13F filings provide a historical snapshot, they are a valuable tool for gauging institutional sentiment.