Kera Capital Partners Inc. lowered its stake in Western Digital Corporation (NASDAQ:WDC – Free Report) by 24.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,880 shares of the data storage provider’s stock after selling 1,275 shares during the period. Kera Capital Partners Inc.’s holdings in Western Digital were worth $668,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. increased its position in shares of Western Digital by 4,070.0% during the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after buying an additional 407 shares during the period. Avion Wealth lifted its holdings in Western Digital by 163.8% in the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after buying an additional 113 shares during the period. Swiss RE Ltd. purchased a new stake in Western Digital in the fourth quarter worth about $32,000. BOKF NA boosted its position in Western Digital by 6,700.0% during the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider’s stock valued at $33,000 after acquiring an additional 268 shares in the last quarter. Finally, JPL Wealth Management LLC bought a new stake in Western Digital during the 3rd quarter valued at approximately $33,000. 92.51% of the stock is currently owned by institutional investors.
Insider Activity
In other Western Digital news, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction 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 trade represents a 0.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director directly owned 3,903 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders have sold 29,322 shares of company stock worth $12,768,550. Corporate insiders own 0.18% of the company’s stock.
Key Stories Impacting Western Digital
- 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
Western Digital Stock Performance
Western Digital stock opened at $746.23 on Friday. Western Digital Corporation has a 12 month low of $58.66 and a 12 month high of $799.87. The business’s fifty day simple moving average is $487.12 and its two-hundred day simple moving average is $327.17. The company has a market capitalization of $257.21 billion, a price-to-earnings ratio of 44.55 and a beta of 2.13.
Western Digital (NASDAQ:WDC – Get Free Report) 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. 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 during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the previous year, the firm earned $1.36 EPS. Western Digital’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. On average, equities research analysts predict that Western Digital Corporation will post 9.6 EPS for the current year.
Western Digital Increases Dividend
The company 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. This is a boost from Western Digital’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Friday, June 5th. Western Digital’s payout ratio is currently 3.58%.
Wall Street Analysts Forecast Growth
WDC has been the subject of several research reports. Weiss Ratings raised Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 15th. Bank of America upped their price target on Western Digital to $495.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. UBS Group increased their price objective on Western Digital from $350.00 to $375.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price objective on Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Finally, Cantor Fitzgerald boosted their target price on shares of Western Digital to $660.00 and gave the company an “overweight” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $450.46.
View Our Latest Stock Analysis on Western Digital
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.
Read More
- Five stocks we like better than Western Digital
- Aehr Spikes on New Order, But Has Stock Gotten Ahead of Itself?
- Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom
- Satellogic Is Tiny But Its Revenue Growth Is Hard to Ignore
- Why Kroger’s Pullback Could Be a Gift for Patient Investors
Receive News & Ratings for Western Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital and related companies with MarketBeat.com's FREE daily email newsletter.
