PKO Investment Management Joint Stock Co boosted its stake in Western Digital Corporation (NASDAQ:WDC – Free Report) by 83.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,000 shares of the data storage provider’s stock after buying an additional 5,000 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Western Digital were worth $2,975,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Western Digital by 7.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after purchasing an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Western Digital by 229.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after purchasing an additional 967 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Western Digital in the 2nd quarter worth about $307,000. Cresset Asset Management LLC purchased a new stake in Western Digital in the 2nd quarter valued at about $292,000. Finally, Federated Hermes Inc. increased its stake in Western Digital by 55.3% in the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after buying an additional 845 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
WDC has been the topic of a number of research analyst reports. Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Morgan Stanley increased their price target on Western Digital from $488.00 to $650.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Bank of America lifted their price target on Western Digital to $495.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Robert W. Baird boosted their price objective on Western Digital from $310.00 to $450.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their price objective on Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $450.46.
Western Digital Stock Down 1.8%
Western Digital stock opened at $732.62 on Tuesday. The firm has a 50 day moving average price of $495.01 and a 200-day moving average price of $332.35. Western Digital Corporation has a twelve month low of $58.66 and a twelve month high of $799.87. The company has a market capitalization of $252.52 billion, a P/E ratio of 43.74 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 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. Western Digital’s revenue was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities analysts expect that Western Digital Corporation will post 9.6 EPS for the current fiscal year.
Western Digital Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were paid a $0.15 dividend. The ex-dividend date was Friday, June 5th. 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%. Western Digital’s dividend payout ratio is presently 3.58%.
Key Western Digital News
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Western Digital is benefiting from a broad rally in memory and storage stocks ahead of Micron’s earnings, with investors betting that AI infrastructure demand will keep pricing and shipments strong. Micron and Western Digital Rise 6%, SanDisk Gains 5% as Memory Stocks Rally Into Micron’s Earnings
- Positive Sentiment: JPMorgan recently raised its price target on Western Digital to $650 from $530 and kept an Overweight rating, citing improved earnings expectations. JPMorgan Lifts PT on Western Digital Corporation (WDC)
- Positive Sentiment: Recent coverage highlighted Western Digital as a major AI memory and storage beneficiary, with strong revenue growth and guidance suggesting the trend can continue. Don’t Forget About Western Digital Amid Sandisk Euphoria
- Neutral Sentiment: Western Digital remains a heavily watched stock, with investor attention rising as the AI storage theme keeps drawing traders into the name. Western Digital Corporation (WDC) is Attracting Investor Attention: Here is What You Should Know
- Neutral Sentiment: One technical note said the shares are very overbought, which could mean a short-term pullback if momentum cools. Stock Of The Day: When Will Western Digital Reverse?
- Negative Sentiment: Fox Advisors downgraded Western Digital from Overweight to Equal Weight, which may temper some enthusiasm after the recent run-up. The Fly downgrade item
- Negative Sentiment: Western Digital also slipped more than the broader market in the latest session, suggesting some profit-taking after a very strong move. Why Western Digital (WDC) Dipped More Than Broader Market Today
Insider Transactions at Western Digital
In other Western Digital news, insider Cynthia L. Tregillis sold 432 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were 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 of the company’s stock, valued at $63,640,420.80. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 598,150 shares of the company’s stock, valued at $246,342,096. This represents a 3.24% 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 sold 29,322 shares of company stock worth $12,768,550 over the last quarter. 0.18% of the stock is currently owned by corporate insiders.
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.
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