Rockefeller Capital Management L.P. Buys 9,615 Shares of Western Digital Corporation $WDC

Rockefeller Capital Management L.P. grew its position in shares of Western Digital Corporation (NASDAQ:WDC) by 20.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,391 shares of the data storage provider’s stock after acquiring an additional 9,615 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Western Digital were worth $9,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Western Digital by 7.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock worth $1,698,000 after purchasing an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Western Digital by 229.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after buying an additional 967 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Western Digital in the 2nd quarter worth approximately $307,000. Cresset Asset Management LLC purchased a new position in shares of Western Digital in the 2nd quarter worth approximately $292,000. Finally, Federated Hermes Inc. grew its holdings in shares of Western Digital by 55.3% in the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after acquiring an additional 845 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Western Digital Trading Up 4.9%

Western Digital stock opened at $675.39 on Friday. The business’s 50 day simple moving average is $513.57 and its 200 day simple moving average is $342.93. Western Digital Corporation has a 12 month low of $62.53 and a 12 month high of $799.87. The company has a market cap of $232.79 billion, a price-to-earnings ratio of 40.32 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.33. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business’s revenue for the quarter was up 45.5% on a year-over-year basis. During the same period last year, the business posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, equities research analysts forecast that Western Digital Corporation will post 9.58 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders 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%. The ex-dividend date was Friday, June 5th. This is a positive change from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio is currently 3.58%.

Insider Transactions at Western Digital

In related news, Director Bruce E. Kiddoo sold 750 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the sale, the chief executive officer directly owned 598,150 shares in the company, valued at approximately $246,342,096. This trade represents a 3.24% decrease in their ownership of the stock. 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 sold 29,322 shares of company stock worth $12,768,550. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Citigroup lifted their price target on Western Digital from $500.00 to $685.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. upped their price objective on Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Rosenblatt Securities raised their target price on Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Barclays lifted their target price on Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Finally, Zacks Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $450.46.

Western Digital News Roundup

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

• Positive Sentiment: Micron’s strong quarter is being treated as a read-through for the entire memory/storage group, with investors betting that AI infrastructure demand will keep Western Digital’s business environment favorable. Western Digital Stock And Seagate Get Boost From Big Micron Earnings Beat
• Positive Sentiment: Reports highlighted that AI-related memory demand is outpacing supply, which could support better pricing and margins for Western Digital if current trends continue. AI boom keeps memory chip makers in sweet spot, says expert
• Positive Sentiment: Analysts and market commentators said Micron’s results helped “justify elevated valuations” across memory names, fueling a sector-wide rally that included Western Digital. Sandisk, Western Digital, and others soar as Micron results ‘justify elevated valuations’
• Neutral Sentiment: Technical commentary noted a hammer pattern and improving earnings estimate revisions for WDC, which may be supporting bullish sentiment but is not a fundamental catalyst by itself. Here’s Why Western Digital (WDC) Is a Great ‘Buy the Bottom’ Stock Now

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.