AMF Tjanstepension AB Lowers Stake in Western Digital Corporation $WDC

AMF Tjanstepension AB cut its stake in Western Digital Corporation (NASDAQ:WDC) by 22.3% during the first quarter, HoldingsChannel reports. The firm owned 1,373,910 shares of the data storage provider’s stock after selling 394,049 shares during the period. Western Digital accounts for about 2.5% of AMF Tjanstepension AB’s holdings, making the stock its 12th largest position. AMF Tjanstepension AB’s holdings in Western Digital were worth $371,629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in WDC. Norges Bank purchased a new stake in Western Digital in the 4th quarter valued at about $788,729,000. Northern Trust Corp increased its position in shares of Western Digital by 11.2% during 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 during the period. Fred Alger Management LLC increased its position in shares of Western Digital by 4,923.9% during 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 during the period. Soroban Capital Partners LP raised its stake 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 valued at $195,882,000 after acquiring an additional 2,910,062 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake 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 valued at $512,107,000 after acquiring an additional 1,228,661 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WDC. Cantor Fitzgerald increased their price objective on Western Digital from $660.00 to $900.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Barclays lifted their target price on Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Susquehanna upped their target price on Western Digital from $360.00 to $500.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. The Goldman Sachs Group reissued a “neutral” rating and set a $400.00 price target on shares of Western Digital in a research report on Friday, May 1st. Finally, Weiss Ratings lowered Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $508.32.

Western Digital Stock Performance

Shares of WDC stock opened at $582.59 on Monday. Western Digital Corporation has a 12-month low of $64.23 and a 12-month high of $799.87. The business’s fifty day simple moving average is $555.90 and its 200-day simple moving average is $374.22. The company has a market cap of $200.81 billion, a PE ratio of 34.78 and a beta of 2.11.

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, 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 firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the previous year, the business earned $1.36 EPS. The firm’s revenue for the quarter was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities analysts forecast that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were issued a $0.15 dividend. This is a boost from Western Digital’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Friday, June 5th. Western Digital’s dividend payout ratio is 3.58%.

Trending Headlines about Western Digital

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

• Positive Sentiment: Analysts turned more bullish on Western Digital, with reports highlighting strong AI storage demand and multiple price-target hikes, including Susquehanna’s increase to $500 and broader Wall Street optimism. Seagate Stock Rises After Analyst Upgrades To Buy. Western Digital Nabs Price-Target Hike.
• Positive Sentiment: Recent articles say WDC is benefiting from a rebound in memory and storage stocks as investors regain confidence in AI infrastructure spending and storage demand. Western Digital and Seagate Surge 7%, Micron and SanDisk Climb 6% as Memory Selloff Reverses
• Positive Sentiment: Zacks and other commentary continue to frame Western Digital as an AI infrastructure winner, citing strong revenue growth, margin expansion, and an improved outlook for future earnings. Micron & One AI Infrastructure Stock to Buy Now for Big Upside
• Neutral Sentiment: One item flagged an apparent short-interest update showing zero shares reported, but the data appears unusual and is unlikely to be a meaningful trading signal on its own.
• Negative Sentiment: Some valuation-focused commentary suggests the stock may be getting expensive on earnings metrics even after its strong run, which could limit upside if growth expectations cool. Western Digital (WDC) Stock Looks Cheap On Cash Flow But Rich On Earnings

Insiders Place Their Bets

In related news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $411.84, for a total value of $8,236,800.00. Following the completion of the sale, the chief executive officer directly owned 598,150 shares in the company, valued at $246,342,096. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 432 shares of the business’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 transaction of $235,699.20. Following the sale, the insider directly owned 116,643 shares in the company, valued at approximately $63,640,420.80. This represents a 0.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 29,322 shares of company stock worth $12,768,550 over the last ninety days. Insiders own 0.18% of the company’s stock.

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.