Western Digital Corporation $WDC is Atalan Capital Partners LP’s 5th Largest Position

Atalan Capital Partners LP trimmed its stake in Western Digital Corporation (NASDAQ:WDC) by 36.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 705,400 shares of the data storage provider’s stock after selling 405,388 shares during the quarter. Western Digital accounts for 8.6% of Atalan Capital Partners LP’s portfolio, making the stock its 5th largest position. Atalan Capital Partners LP’s holdings in Western Digital were worth $121,519,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Atom Investors LP purchased a new stake in shares of Western Digital in the fourth quarter worth approximately $1,534,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Western Digital in the fourth quarter worth approximately $163,000. State of Wisconsin Investment Board raised its position in Western Digital by 15.0% during the fourth quarter. State of Wisconsin Investment Board now owns 226,966 shares of the data storage provider’s stock valued at $39,099,000 after acquiring an additional 29,606 shares in the last quarter. Captrust Financial Advisors raised its position in Western Digital by 19.1% during the fourth quarter. Captrust Financial Advisors now owns 32,637 shares of the data storage provider’s stock valued at $5,622,000 after acquiring an additional 5,239 shares in the last quarter. Finally, &PARTNERS raised its position in Western Digital by 44.6% during the fourth quarter. &PARTNERS now owns 15,678 shares of the data storage provider’s stock valued at $2,711,000 after acquiring an additional 4,833 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

More Western Digital News

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

• Positive Sentiment: Morgan Stanley raised its outlook on Western Digital and boosted its price target, adding to the bullish case that AI data-center growth is driving stronger-than-expected storage demand. Western Digital Stock Just Hit a New All-Time High. Here’s Why.
• Positive Sentiment: Multiple reports say WDC is benefiting from a broader re-rating of AI storage stocks, with investors focused on tight hard-disk supply, sold-out inventory, and higher pricing power. Western Digital stock jumps as AI trade reignites
• Positive Sentiment: Media coverage highlighted a hyperscaler multiyear commitment to Western Digital, reinforcing confidence that demand from large cloud customers remains robust. Hyperscaler’s Multiyear Commitment with Western Digital (WDC) Highlights Robust Demand
• Neutral Sentiment: Investors are also watching June 22 for the planned SanDisk-related swap, which could create another event-driven trading catalyst for WDC. Dear Western Digital Stock Fans, Mark Your Calendars for June 22
• Negative Sentiment: One commentary piece argued the stock may be due for a near-term pullback after its huge run-up this year, suggesting valuation and momentum risks could cap gains in the short term. Western Digital stock looks ripe for a near-term pullback: find out more

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Rosenblatt Securities raised their price objective on shares of Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Robert W. Baird raised their price objective on shares of Western Digital from $310.00 to $450.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Evercore reaffirmed an “outperform” rating and set a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Bank of America raised their price objective on shares of Western Digital to $495.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Finally, Wells Fargo & Company raised their price objective on shares of Western Digital from $500.00 to $575.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $450.46.

Western Digital Stock Up 4.2%

Shares of WDC stock opened at $681.08 on Wednesday. Western Digital Corporation has a 12 month low of $57.88 and a 12 month high of $729.92. The business’s 50 day moving average is $462.12 and its two-hundred day moving average is $316.21. The company has a market cap of $234.75 billion, a PE ratio of 40.66 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter last year, the company 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. As a group, equities analysts expect 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 will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be issued a dividend of $0.15 per share. 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. The ex-dividend date is Friday, June 5th. Western Digital’s dividend payout ratio is 3.58%.

Insider Buying and Selling

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 598,150 shares in the company, valued at $246,342,096. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $443.19, for a total value of $2,071,470.06. Following the transaction, the insider owned 90,041 shares in the company, valued at approximately $39,905,270.79. This trade represents a 4.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 29,322 shares of company stock worth $12,768,550. 0.18% of the stock is currently owned by company insiders.

Western Digital 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.