315,000 Shares in Western Digital Corporation $WDC Purchased by Amanah Holdings Trust

Amanah Holdings Trust bought a new position in Western Digital Corporation (NASDAQ:WDC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 315,000 shares of the data storage provider’s stock, valued at approximately $54,265,000. Western Digital accounts for approximately 7.9% of Amanah Holdings Trust’s investment portfolio, making the stock its 4th biggest holding.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Western Digital during the 4th quarter valued at $788,729,000. Northern Trust Corp increased its stake in Western Digital by 11.2% in the 3rd quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock worth $456,884,000 after acquiring an additional 384,103 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Western Digital by 11.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,804,907 shares of the data storage provider’s stock valued at $456,737,000 after acquiring an additional 402,981 shares in the last quarter. Fred Alger Management LLC raised its holdings in shares of 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 acquiring an additional 3,339,225 shares in the last quarter. Finally, Soroban Capital Partners LP boosted its position in shares of Western Digital by 1,926.3% during 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 acquiring an additional 2,910,062 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Evercore reissued an “outperform” rating and set a $575.00 price objective on shares of Western Digital in a report on Tuesday, May 26th. Sanford C. Bernstein raised shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 target price on the stock in a research note on Tuesday, March 31st. TD Cowen lifted their target price on shares of Western Digital from $325.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Zacks Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $400.00 price target on shares of Western Digital in a report on Friday, May 1st. One 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. According to data from MarketBeat.com, Western Digital presently has a consensus rating of “Moderate Buy” and an average price target of $450.46.

Trending Headlines about Western Digital

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

• Positive Sentiment: Western Digital is getting momentum-stock attention from analysts and traders who see AI-driven data-center growth supporting long-term demand for high-capacity storage. Seagate & Another AI Memory Momentum Stock With Big Upside
• Positive Sentiment: Shares are also benefiting from an industry-wide surge in memory stocks after reports that Apple flagged “unavoidable” memory price hikes, reinforcing pricing power across the sector. SanDisk Jumps 11%, Western Digital Rises 7% After Apple Flags “Unavoidable” Memory Price Hikes
• Positive Sentiment: Recent coverage continues to frame WDC as a strong momentum name, with articles suggesting more upside could remain after its recent run. Western Digital (WDC) Stock Could Close Out the Week with Major Gains
• Positive Sentiment: Analysts have been raising price targets and highlighting WDC’s strong profitability, which is adding to bullish sentiment. Morgan Stanley Raises Price Target on Western Digital (WDC). Here is Why
• Neutral Sentiment: Broader market rotation away from tech and into financials could create near-term volatility for technology stocks, including WDC. Financials Rose, Tech Fell Before Kevin Warsh Fed Debut

Western Digital Trading Up 4.8%

Shares of Western Digital stock opened at $746.23 on Friday. The firm has a market capitalization of $257.21 billion, a PE ratio of 44.55 and a beta of 2.13. The business’s 50-day moving average price is $478.97 and its 200-day moving average price is $324.21. Western Digital Corporation has a 12 month low of $58.66 and a 12 month high of $799.87.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. The company had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.Western Digital’s revenue for the quarter was up 45.5% compared to the same quarter last year. During the same period last year, the firm posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, analysts predict that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is a boost from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 5th. Western Digital’s payout ratio is 3.58%.

Insider Buying and Selling at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the transaction, the insider owned 85,154 shares of the company’s stock, valued at approximately $47,366,060.96. This trade represents a 2.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction 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 completion of the transaction, the chief executive officer owned 598,150 shares in the company, valued at approximately $246,342,096. The trade was a 3.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 29,322 shares of company stock valued at $12,768,550. Insiders own 0.18% of the company’s stock.

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.