Andra AP fonden Cuts Stock Position in Western Digital Corporation $WDC

Andra AP fonden lessened its holdings in Western Digital Corporation (NASDAQ:WDC) by 5.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 260,400 shares of the data storage provider’s stock after selling 15,246 shares during the quarter. Andra AP fonden’s holdings in Western Digital were worth $44,859,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of WDC. Norges Bank purchased a new stake in Western Digital in the 4th quarter worth $788,729,000. Fred Alger Management LLC increased 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 worth $409,049,000 after buying an additional 3,339,225 shares in the last quarter. Soroban Capital Partners LP increased 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 worth $195,882,000 after buying an additional 2,910,062 shares in the last quarter. Polar Capital Holdings Plc purchased a new stake in Western Digital in the 3rd quarter worth $221,800,000. Finally, National Pension Service increased its stake 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 worth $291,422,000 after buying an additional 1,231,477 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Trading Up 8.0%

WDC opened at $529.29 on Friday. The firm has a market cap of $182.44 billion, a P/E ratio of 31.60 and a beta of 2.13. Western Digital Corporation has a 12 month low of $54.60 and a 12 month high of $602.54. The stock has a 50-day moving average of $441.92 and a 200 day moving average of $306.11.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.39 by $0.33. The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm’s revenue was up 45.5% on a year-over-year basis. During the same quarter last year, the business posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, research analysts forecast that Western Digital Corporation will post 9.57 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be given a $0.15 dividend. This is an increase from Western Digital’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, June 5th. Western Digital’s dividend payout ratio (DPR) is 3.58%.

Wall Street Analyst Weigh In

WDC has been the subject of a number of research analyst reports. Bank of America raised their price objective on Western Digital to $495.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Weiss Ratings upgraded Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 15th. Rosenblatt Securities raised their price target on Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a report on Friday, May 1st. The Goldman Sachs Group restated a “neutral” rating and set a $400.00 price target on shares of Western Digital in a report on Friday, May 1st. Finally, Jefferies Financial Group set a $575.00 price target on Western Digital in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $433.29.

Insider Activity

In other Western Digital news, insider Vidyadhara K. Gubbi sold 2,475 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the completion of the sale, the insider owned 85,154 shares of the company’s stock, valued at $47,366,060.96. This trade represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the sale, the chief executive officer directly owned 598,150 shares of the company’s stock, valued at approximately $246,342,096. The trade was a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,322 shares of company stock worth $12,768,550 in the last ninety days. 0.18% of the stock is currently owned by company insiders.

Trending Headlines about Western Digital

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

• Positive Sentiment: Western Digital and related memory stocks rebounded as investors rotated back into the group following SK Hynix’s capacity plan, which helped sentiment across the storage space. SanDisk Jumps 14%, Western Digital Climbs 6% as Memory Stocks Rebound on SK Hynix’s Capacity Plan
• Positive Sentiment: Analysts remain constructive on WDC, with recent price target increases from Mizuho and Citi reinforcing expectations for continued AI-driven storage demand and stronger earnings estimates. Mizuho and Citi Raise Western Digital (WDC) Price Targets
• Positive Sentiment: Western Digital’s stock has also benefited from ongoing investor optimism around AI storage demand, pricing gains, and its more focused HDD-centric business mix. Western Digital Stock Skyrockets 185% YTD: Is More Growth on the Horizon?
• Neutral Sentiment: Western Digital announced a privately negotiated share exchange involving SanDisk investors, which may affect the company’s capital structure but is not clearly a direct earnings driver yet. Western Digital Announces Sandisk Share Exchange With Investors
• Neutral Sentiment: Recent broker commentary has kept WDC at a “Moderate Buy,” supporting the stock but largely confirming already positive sentiment rather than adding a new catalyst. Western Digital Corporation Receives Consensus Rating of Moderate Buy from Brokerages

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.