Bank of Hawaii Sells 10,503 Shares of Western Digital Corporation $WDC

Bank of Hawaii cut its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 23.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,651 shares of the data storage provider’s stock after selling 10,503 shares during the quarter. Bank of Hawaii’s holdings in Western Digital were worth $5,969,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of WDC. Reflection Asset Management bought a new position in Western Digital in the fourth quarter worth approximately $88,000. Tobam raised its position in shares of Western Digital by 1,117.6% during the fourth quarter. Tobam now owns 7,208 shares of the data storage provider’s stock worth $1,242,000 after purchasing an additional 6,616 shares during the period. Wick Capital Partners LLC bought a new position in shares of Western Digital in the 4th quarter worth $344,000. MidFirst Bank bought a new position in shares of Western Digital in the 4th quarter worth $244,000. Finally, Astoria Portfolio Advisors LLC. acquired a new stake in Western Digital in the 4th quarter valued at $645,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WDC has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 15th. Citigroup lifted their price objective on shares of Western Digital from $500.00 to $685.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Morgan Stanley boosted their target price on shares of Western Digital from $488.00 to $650.00 and gave the stock an “overweight” rating in a research report on Monday. Cantor Fitzgerald upped their target price on shares of Western Digital to $660.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Bank of America raised their price target on shares of Western Digital to $495.00 and gave the company a “buy” rating in a research report on Monday, April 27th. 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $450.46.

Insider Buying and Selling at Western Digital

In other news, insider Cynthia L. Tregillis sold 432 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $545.60, for a total value of $235,699.20. Following the sale, the insider owned 116,643 shares of the company’s stock, valued at $63,640,420.80. The trade was a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the sale, the insider owned 90,041 shares in the company, valued at $39,905,270.79. The trade was a 4.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,322 shares of company stock worth $12,768,550 over the last three months. Company insiders own 0.18% of the company’s stock.

Western Digital Price Performance

Shares of WDC opened at $746.23 on Friday. Western Digital Corporation has a 1 year low of $58.66 and a 1 year high of $799.87. The stock’s fifty day moving average price is $487.12 and its two-hundred day moving average price is $327.17. The firm has a market cap of $257.21 billion, a PE ratio of 44.55 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the company earned $1.36 EPS. The firm’s quarterly revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Sell-side analysts anticipate 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 was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were paid a $0.15 dividend. The ex-dividend date was Friday, June 5th. This is a positive change from Western Digital’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Western Digital’s dividend payout ratio is 3.58%.

Western Digital News Summary

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

• Positive Sentiment: Western Digital is benefiting from surging demand tied to AI data centers and cloud storage, which is boosting investor confidence in the company’s earnings outlook. Western Digital stock surges on AI demand; Morgan Stanley bullish on WDC
• Positive Sentiment: Morgan Stanley raised its view on WDC, reinforcing the idea that the stock still has room to run after the recent rally. Morgan Stanley Raises Price Target on Western Digital (WDC). Here is Why
• Positive Sentiment: The company’s earnings were said to nearly double on strong AI and cloud demand, which supports the recent move up in the shares. Western Digital Earnings Nearly Double on AI, Cloud Demand
• Positive Sentiment: Apple’s comments about unavoidable memory price hikes helped lift the broader memory/storage group, including WDC, by improving the pricing backdrop for the industry. SanDisk Jumps 11%, Western Digital Rises 7% After Apple Flags “Unavoidable” Memory Price Hikes

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.