Aigen Investment Management LP Trims Stock Position in Western Digital Corporation $WDC

Aigen Investment Management LP cut its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 74.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,600 shares of the data storage provider’s stock after selling 13,242 shares during the quarter. Aigen Investment Management LP’s holdings in Western Digital were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Alps Advisors Inc. grew its stake in shares of Western Digital by 0.8% in the fourth quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider’s stock valued at $811,000 after buying an additional 37 shares in the last quarter. Quadcap Wealth Management LLC grew its stake in Western Digital by 2.1% during the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock valued at $346,000 after purchasing an additional 41 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its stake in Western Digital by 2.6% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider’s stock valued at $341,000 after purchasing an additional 51 shares in the last quarter. Bogart Wealth LLC grew its stake in Western Digital by 19.4% during the 4th quarter. Bogart Wealth LLC now owns 369 shares of the data storage provider’s stock valued at $64,000 after purchasing an additional 60 shares in the last quarter. Finally, CYBER HORNET ETFs LLC grew its stake in Western Digital by 7.2% during the 4th quarter. CYBER HORNET ETFs LLC now owns 889 shares of the data storage provider’s stock valued at $153,000 after purchasing an additional 60 shares in the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital News Roundup

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

• Positive Sentiment: JPMorgan raised its price target on Western Digital from $530 to $650 and reiterated an overweight rating, signaling more upside potential for the shares. Article Title
• Positive Sentiment: The company announced a Sandisk share exchange with institutional investors, a move that has been interpreted as supportive of the stock and part of a broader capital strategy. Article Title
• Positive Sentiment: Western Digital highlighted AI-focused storage innovation at Computex, reinforcing the market’s view that it is well positioned to benefit from data-center and AI infrastructure spending. Article Title
• Positive Sentiment: Analysts also pointed to strong free cash flow, a larger dividend, and a new $4 billion buyback plan, which supports the investment case by showing confidence in cash generation and shareholder returns. Article Title
• Neutral Sentiment: Western Digital has been outperforming the broader market over the past year, and brokerages still generally rate the stock a moderate buy, which supports sentiment but is more of a confirmation than a new catalyst. Article Title
• Negative Sentiment: One recent market note said WDC slipped with the broader market after a hotter-than-expected CPI report revived rate-hike concerns, showing that macro pressure can still weigh on the stock at times. Article Title

Insiders Place Their Bets

In other Western Digital news, 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 sale, the chief executive officer owned 598,150 shares of the company’s stock, valued at $246,342,096. The trade was a 3.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 sale, the director directly owned 3,903 shares in the company, valued at $2,062,813.56. The trade was a 16.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 29,322 shares of company stock worth $12,768,550 over the last 90 days. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Mizuho raised their price objective on Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $400.00 target price on shares of Western Digital in a research report on Friday, May 1st. Evercore reiterated an “outperform” rating and issued a $575.00 target price on shares of Western Digital in a research report on Tuesday, May 26th. Wells Fargo & Company lifted their target price on Western Digital from $500.00 to $575.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Finally, Sanford C. Bernstein upgraded Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 target price for the company in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $443.71.

Western Digital Trading Down 0.0%

Shares of NASDAQ WDC opened at $562.92 on Monday. The company has a market cap of $194.03 billion, a price-to-earnings ratio of 33.61 and a beta of 2.13. Western Digital Corporation has a 12-month low of $54.60 and a 12-month high of $602.54. The stock’s 50 day simple moving average is $447.23 and its 200 day simple moving average is $309.01.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion for 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 firm’s revenue for the quarter was up 45.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, equities analysts forecast that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, June 5th. This is an increase from Western Digital’s previous quarterly dividend of $0.13. Western Digital’s dividend payout ratio (DPR) is presently 3.58%.

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.