AXQ Capital LP Lowers Stake in Western Digital Corporation $WDC

AXQ Capital LP reduced its position in shares of Western Digital Corporation (NASDAQ:WDC) by 78.8% during the 4th quarter, HoldingsChannel reports. The fund owned 2,383 shares of the data storage provider’s stock after selling 8,863 shares during the period. AXQ Capital LP’s holdings in Western Digital were worth $411,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Western Digital in the 4th quarter valued at about $788,729,000. Fred Alger Management LLC lifted its stake in Western Digital by 4,923.9% in the 3rd quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock valued at $409,049,000 after buying an additional 3,339,225 shares in the last quarter. Soroban Capital Partners LP lifted its stake in Western Digital by 1,926.3% in the 2nd quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock valued at $195,882,000 after buying an additional 2,910,062 shares in the last quarter. Polar Capital Holdings Plc acquired a new stake in Western Digital in the 3rd quarter valued at about $221,800,000. Finally, National Pension Service raised its holdings in Western Digital by 267.6% in the 4th quarter. National Pension Service now owns 1,691,659 shares of the data storage provider’s stock valued at $291,422,000 after acquiring an additional 1,231,477 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Stock Performance

NASDAQ:WDC opened at $575.50 on Friday. The stock has a market capitalization of $198.36 billion, a P/E ratio of 34.36 and a beta of 2.13. The company has a 50 day moving average price of $417.75 and a 200 day moving average price of $293.25. Western Digital Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $602.54.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping 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 firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the company posted $1.36 EPS. The firm’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 forecast that Western Digital Corporation will post 9.57 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.60 annualized dividend and a yield of 0.1%. This is a boost from Western Digital’s previous quarterly dividend of $0.13. Western Digital’s dividend payout ratio is 2.99%.

Wall Street Analysts Forecast Growth

WDC has been the subject of a number of recent research reports. Rosenblatt Securities increased their price objective on shares of Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a report on Friday, May 1st. Bank of America raised their price target on shares of Western Digital to $495.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Weiss Ratings upgraded shares of Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 15th. Wedbush restated an “outperform” rating and set a $325.00 price target on shares of Western Digital in a report on Monday, February 9th. Finally, Zacks Research upgraded shares of Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $424.33.

Insider Buying and Selling at Western Digital

In other news, insider Cynthia L. Tregillis sold 363 shares of Western Digital stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $377.09, for a total transaction of $136,883.67. Following the completion of the sale, the insider directly owned 120,023 shares of the company’s stock, valued at approximately $45,259,473.07. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of Western Digital stock in a transaction on Monday, May 4th. The stock was sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the sale, the insider owned 90,041 shares in the company, valued at $39,905,270.79. This represents a 4.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 28,890 shares of company stock worth $12,532,851. 0.18% of the stock is currently owned by corporate insiders.

Key Western Digital News

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

• Positive Sentiment: Western Digital’s recent Computex 2026 messaging reinforced the idea that AI demand is not just about chips, but about storage and data movement, supporting the stock’s AI-related momentum. AI isn’t just a compute race. It’s a data race – and storage will decide the winners, WD shares
• Positive Sentiment: Citigroup reportedly raised its price target on Western Digital by 37%, which likely boosted investor confidence and helped send shares to fresh highs. Western Digital (WDC) Hits All-Time High as Citi Hikes PT by 37%
• Positive Sentiment: Western Digital also announced a convertible-debt exchange, which investors may view as a cleaner capital structure that gives the company more flexibility for future AI-related moves. Western Digital Restructures Convertible Debt via Equity Exchange
• Positive Sentiment: Commentary continues to frame Western Digital as a beneficiary of the AI storage supercycle, with tighter supply and firm pricing supporting the earnings outlook. How The Western Digital (WDC) Investment Story Is Shifting With AI Storage And New Valuations
• Positive Sentiment: Western Digital’s recent earnings were strong, with revenue and EPS beating estimates, which continues to underpin the rally in the stock. Western Digital stock and company profile
• Neutral Sentiment: The stock also drew attention from a conference presentation and ongoing coverage, but these items did not introduce a clearly new catalyst on their own. Western Digital Corporation (WDC) Presents at 2026 Evercore Global TMT Conference Transcript
• Negative Sentiment: A small insider sale by a company executive may have slightly cooled sentiment, though it was modest relative to the insider’s remaining holdings. SEC filing for insider sale
• Negative Sentiment: Near-term stock weakness may also reflect broad semiconductor-sector pressure after weak AI-chip commentary from peers, which can spill over into storage names like Western Digital. Micron Drops 7% as Broadcom’s Disappointing AI Outlook Triggers a Semiconductor Selloff

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.