Convergence Investment Partners LLC Takes Position in Western Digital Corporation $WDC

Posted by Brenda Bartman on Jul 21st, 2026

Convergence Investment Partners LLC purchased a new position in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,176 shares of the data storage provider’s stock, valued at approximately $5,457,000. Western Digital makes up approximately 0.9% of Convergence Investment Partners LLC’s holdings, making the stock its 24th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in Western Digital in the fourth quarter valued at $788,729,000. Soroban Capital Partners LP grew its holdings in Western Digital by 1,926.3% during the 2nd 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 in the last quarter. Polar Capital Holdings Plc acquired a new position in Western Digital during the 3rd quarter worth $221,800,000. National Pension Service increased its position in shares of Western Digital by 267.6% in the 4th quarter. National Pension Service now owns 1,691,659 shares of the data storage provider’s stock worth $291,422,000 after purchasing an additional 1,231,477 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Western Digital by 70.4% in the 4th quarter. AQR Capital Management LLC now owns 2,972,703 shares of the data storage provider’s stock valued at $512,107,000 after purchasing an additional 1,228,661 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WDC. Bank of America increased their price target on shares of Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Robert W. Baird boosted their price objective on Western Digital from $310.00 to $450.00 and gave the company an “outperform” rating in a report on Monday, May 4th. The Goldman Sachs Group restated a “neutral” rating and set a $400.00 price objective on shares of Western Digital in a research note on Friday, May 1st. UBS Group reaffirmed a “neutral” rating and set a $560.00 target price on shares of Western Digital in a report on Monday, July 13th. Finally, Mizuho lifted their target price on Western Digital from $550.00 to $685.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $520.32.

View Our Latest Report on Western Digital

Western Digital News Summary

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

Positive Sentiment: Western Digital is benefiting from a rebound in memory stocks as investors step back in after last week’s selloff, improving sentiment across the semiconductor group. Micron Jumps 5%, SanDisk Rises 6%, Western Digital Climbs 4% as Memory Stocks Rebound With Chips
Positive Sentiment: Morgan Stanley’s view that the memory-stock selloff created a strong entry point is encouraging dip-buying in Western Digital and other chip names. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
Neutral Sentiment: Western Digital Malaysia was recognized for advancing sustainable AI infrastructure, which supports the company’s AI narrative but is unlikely to be the main stock-moving catalyst today. WD Malaysia Recognized for Advancing Sustainable AI Infrastructure

Insider Buying and Selling

In related news, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 598,150 shares in the company, valued at $246,342,096. This represents a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $235,699.20. Following the completion of the sale, the insider directly owned 116,643 shares in the company, valued at $63,640,420.80. This represents a 0.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 28,959 shares of company stock worth $12,631,666. 0.18% of the stock is owned by company insiders.

Western Digital Stock Up 2.1%

WDC opened at $487.42 on Tuesday. The company’s 50-day moving average price is $560.32 and its 200 day moving average price is $388.23. Western Digital Corporation has a fifty-two week low of $66.04 and a fifty-two week high of $799.87. The firm has a market cap of $168.00 billion, a price-to-earnings ratio of 29.10 and a beta of 2.11.

Western Digital (NASDAQ:WDC – Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.Western Digital’s quarterly revenue was up 45.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Research analysts anticipate that Western Digital Corporation will post 9.61 earnings per share for the current year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were given a dividend of $0.15 per share. The ex-dividend date was Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s payout ratio is presently 3.58%.

Western Digital Company Profile

(Free Report)

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.