Western Digital Corporation $WDC Shares Sold by Andra AP fonden

Andra AP fonden lowered its position in Western Digital Corporation (NASDAQ:WDC) by 68.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 81,737 shares of the data storage provider’s stock after selling 178,663 shares during the period. Andra AP fonden’s holdings in Western Digital were worth $22,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Western Digital by 7.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after acquiring an additional 3,019 shares during the period. Geneos Wealth Management Inc. boosted its stake in 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 purchasing an additional 967 shares during the period. Sivia Capital Partners LLC acquired a new stake in Western Digital during the 2nd quarter worth $307,000. Cresset Asset Management LLC purchased a new position in Western Digital during the 2nd quarter worth $292,000. Finally, Federated Hermes Inc. increased its stake in 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 purchasing an additional 845 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Western Digital

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

• Positive Sentiment: Western Digital is benefiting from a rebound in memory stocks as investors step back in after last week’s selloff, improving sentiment across the semiconductor group. Micron Jumps 5%, SanDisk Rises 6%, Western Digital Climbs 4% as Memory Stocks Rebound With Chips
• Positive Sentiment: Morgan Stanley’s view that the memory-stock selloff created a strong entry point is encouraging dip-buying in Western Digital and other chip names. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Neutral Sentiment: Western Digital Malaysia was recognized for advancing sustainable AI infrastructure, which supports the company’s AI narrative but is unlikely to be the main stock-moving catalyst today. WD Malaysia Recognized for Advancing Sustainable AI Infrastructure

Western Digital Stock Up 2.1%

Shares of NASDAQ:WDC opened at $487.42 on Tuesday. Western Digital Corporation has a fifty-two week low of $66.04 and a fifty-two week high of $799.87. The firm’s 50-day simple moving average is $560.32 and its 200-day simple moving average is $388.23. The company has a market cap of $168.00 billion, a price-to-earnings ratio of 29.10 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The firm’s revenue for the quarter was up 45.5% on a year-over-year basis. During the same period in the prior year, the company 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 9.61 EPS for the current year.

Western Digital Increases Dividend

The firm also recently announced 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 is a positive change from Western Digital’s previous quarterly dividend of $0.12. 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%. Western Digital’s dividend payout ratio (DPR) is currently 3.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company upped their target price on shares of Western Digital from $575.00 to $730.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Jefferies Financial Group set a $575.00 price target on Western Digital in a research report on Tuesday, May 26th. Citigroup upped their price objective on Western Digital from $685.00 to $800.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Wall Street Zen upgraded Western Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Susquehanna boosted their target price on Western Digital from $360.00 to $500.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $520.32.

Insiders Place Their Bets

In other news, insider Cynthia L. Tregillis sold 432 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $545.60, for a total value of $235,699.20. Following the completion of the sale, the insider directly owned 116,643 shares of the company’s stock, valued at $63,640,420.80. This trade represents a 0.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director owned 3,903 shares in the company, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 28,959 shares of company stock valued at $12,631,666. Corporate insiders own 0.18% of the company’s stock.

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.