Flatrock Wealth Partners LLC Makes New Investment in Western Digital Corporation $WDC

Flatrock Wealth Partners LLC purchased a new position in shares of Western Digital Corporation (NASDAQ:WDC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 983 shares of the data storage provider’s stock, valued at approximately $266,000.

Several other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new stake in Western Digital during the 4th quarter worth approximately $788,729,000. Northern Trust Corp grew its stake in shares of Western Digital by 11.2% in the third quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock worth $456,884,000 after acquiring an additional 384,103 shares in the last quarter. Fred Alger Management LLC grew its stake in shares of Western Digital by 4,923.9% in the third quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock worth $409,049,000 after acquiring an additional 3,339,225 shares in the last quarter. Soroban Capital Partners LP increased its position in shares of Western Digital by 1,926.3% during the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after acquiring an additional 2,910,062 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Western Digital by 70.4% during the fourth quarter. AQR Capital Management LLC now owns 2,972,703 shares of the data storage provider’s stock worth $512,107,000 after acquiring an additional 1,228,661 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Price Performance

Shares of WDC opened at $532.10 on Wednesday. Western Digital Corporation has a 1-year low of $63.67 and a 1-year high of $799.87. The stock has a market cap of $183.40 billion, a PE ratio of 31.77 and a beta of 2.11. The firm has a fifty day moving average price of $545.76 and a 200 day moving average price of $365.92.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data 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 company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business’s quarterly revenue was up 45.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, equities analysts expect that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were given 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 was Friday, June 5th. This is an increase from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s payout ratio is 3.58%.

Western Digital News Roundup

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

• Positive Sentiment: Analysts remain broadly constructive on Western Digital, with recent reports highlighting a “Moderate Buy” consensus and price targets as high as $900, suggesting Wall Street still sees meaningful upside if demand stays firm. Western Digital (WDC) Gets a Hold from Goldman Sachs
• Positive Sentiment: A recent market note argued that the pullback in memory stocks may be a reset rather than a breakdown, pointing to continued tight supply, strong margins, and ongoing AI infrastructure demand that could support Western Digital’s storage business. Flash Crash or Cash? The AI Hardware Reset Investors Can’t Ignore (WDC)
• Neutral Sentiment: Western Digital has also remained a high-interest stock among retail and institutional investors, with multiple articles noting strong trading activity and continued attention on the company’s role in the AI memory cycle. Here is What to Know Beyond Why Western Digital Corporation (WDC) is a Trending Stock
• Negative Sentiment: Samsung’s record quarter sparked a broad selloff in memory and storage names, and WDC was caught in the downdraft as investors shifted from optimism to profit-taking across the sector. Western Digital (WDC) Stock Plunges 9% Following Samsung Report Sparking Memory Chip Selloff
• Negative Sentiment: Several market updates described WDC as falling alongside Micron and SanDisk in premarket trading, reinforcing concerns that the AI-memory trade is facing a short-term momentum reset. Micron, SanDisk, and Western Digital Sink 7% as Samsung Earnings Spark a Memory Selloff

Insider Buying and Selling at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $411.84, for a total value of $8,236,800.00. Following the transaction, the chief executive officer owned 598,150 shares in the company, 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 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 value of $2,071,470.06. Following the sale, the insider directly owned 90,041 shares of the company’s stock, valued at approximately $39,905,270.79. This represents a 4.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 29,322 shares of company stock valued at $12,768,550. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on Western Digital from $500.00 to $685.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Cantor Fitzgerald upped their target price on shares of Western Digital from $660.00 to $900.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. TD Cowen lifted their price target on shares of Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Fox Advisors downgraded shares of Western Digital from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Finally, 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 note on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $493.52.

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.