Attestor Capital Ltd Acquires New Holdings in Western Digital Corporation $WDC

Attestor Capital Ltd bought a new stake in Western Digital Corporation (NASDAQ:WDC) during the 4th quarter, Holdings Channel.com reports. The fund bought 22,067 shares of the data storage provider’s stock, valued at approximately $3,801,000. Western Digital accounts for about 1.8% of Attestor Capital Ltd’s holdings, making the stock its 7th biggest position.

A number of other large investors have also added to or reduced their stakes in the company. AustralianSuper Pty Ltd acquired a new stake in shares of Western Digital during the third quarter worth approximately $34,244,000. Cantor Fitzgerald L. P. lifted its position in Western Digital by 399.8% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider’s stock worth $3,900,000 after buying an additional 25,987 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in shares of Western Digital by 75.4% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider’s stock valued at $1,778,000 after buying an additional 4,068 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Western Digital during the 4th quarter valued at $2,270,000. Finally, WESPAC Advisors LLC purchased a new position in shares of Western Digital during the 4th quarter valued at $793,000. 92.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wall Street Zen upgraded Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 15th. Citigroup upped their target price on Western Digital from $500.00 to $685.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Wells Fargo & Company raised their price target on Western Digital from $500.00 to $575.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Finally, Mizuho lifted their price target on Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a report on Monday, June 8th. 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, Western Digital currently has an average rating of “Moderate Buy” and a consensus target price of $450.46.

Insider Buying and Selling

In related news, Director Bruce E. Kiddoo sold 750 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director directly owned 3,903 shares in the company, valued at approximately $2,062,813.56. The trade was a 16.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $443.19, for a total value of $2,071,470.06. Following the sale, the insider directly owned 90,041 shares of the company’s stock, valued at $39,905,270.79. The trade was a 4.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,322 shares of company stock valued at $12,768,550 over the last 90 days. 0.18% of the stock is currently owned by insiders.

Western Digital Trading Up 4.8%

Shares of NASDAQ:WDC opened at $746.23 on Friday. The stock has a market capitalization of $257.21 billion, a PE ratio of 44.55 and a beta of 2.13. Western Digital Corporation has a 1 year low of $58.66 and a 1 year high of $799.87. The firm has a fifty day moving average price of $478.97 and a 200 day moving average price of $324.21.

Western Digital (NASDAQ:WDC) last posted its 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. 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 for the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The business’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. On average, sell-side analysts forecast that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. This is a positive change from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s payout ratio is currently 3.58%.

Key Headlines Impacting 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

About Western Digital

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.