Capstone Capital Management Ltd cut its stake in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) by 26.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,434 shares of the data storage provider’s stock after selling 1,635 shares during the quarter. Western Digital accounts for 0.8% of Capstone Capital Management Ltd’s portfolio, making the stock its 20th biggest position. Capstone Capital Management Ltd’s holdings in Western Digital were worth $2,015,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dogwood Wealth Management LLC increased its stake in shares of Western Digital by 28.6% in the second quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock worth $57,000 after buying an additional 20 shares during the period. Legacy Wealth Asset Management LLC lifted its holdings in Western Digital by 1.0% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 2,302 shares of the data storage provider’s stock worth $1,470,000 after buying an additional 22 shares during the period. Everpar Advisors LLC lifted its stake in Western Digital by 1.8% in the second quarter. Everpar Advisors LLC now owns 1,442 shares of the data storage provider’s stock worth $921,000 after acquiring an additional 25 shares during the period. Ares Financial Consulting LLC raised its holdings in Western Digital by 45.5% in the 2nd quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock worth $51,000 after purchasing an additional 25 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC increased its position in shares of Western Digital by 2.1% during the second quarter. Dynamic Advisor Solutions LLC now owns 1,390 shares of the data storage provider’s stock valued at $888,000 after buying an additional 28 shares during the period. 92.51% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on WDC. Rosenblatt Securities decreased their price objective on Western Digital from $900.00 to $800.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Bank of America increased their target price on Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Morgan Stanley cut their price objective on shares of Western Digital from $676.00 to $643.00 and set an “overweight” rating on the stock in a research report on Tuesday. Cantor Fitzgerald boosted their price objective on shares of Western Digital from $660.00 to $900.00 in a report on Thursday, August 6th. Finally, The Goldman Sachs Group lowered their price target on Western Digital from $650.00 to $615.00 in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and an average price target of $607.04.
Read Our Latest Research Report on Western Digital
Western Digital Stock Up 3.4%
Shares of WDC opened at $364.32 on Wednesday. The business has a 50-day simple moving average of $439.65 and a two-hundred day simple moving average of $479.46. The stock has a market cap of $136.37 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.49 and a beta of 2.11. Western Digital Corporation has a 52 week low of $117.23 and a 52 week high of $799.87.
Western Digital (NASDAQ:WDC – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $3.56 EPS for the quarter, beating the consensus estimate of $3.31 by $0.25. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The company’s revenue was up 43.8% on a year-over-year basis. During the same period last year, the firm earned $1.66 EPS. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. On average, equities analysts anticipate that Western Digital Corporation will post 19.65 earnings per share for the current fiscal year.
Western Digital Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.2%. The ex-dividend date was Tuesday, September 8th. Western Digital’s dividend payout ratio (DPR) is currently 2.48%.
Insider Activity at Western Digital
In other news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total value of $8,899,400.00. Following the sale, the chief executive officer directly owned 575,966 shares in the company, valued at $256,287,591.02. The trade was a 3.36% decrease in their position. The transaction was disclosed in a 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 Cynthia Tregillis sold 432 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $451.20, for a total value of $194,918.40. Following the sale, the insider owned 111,030 shares in the company, valued at $50,096,736. The trade was a 0.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 24,629 shares of company stock valued at $11,033,404 over the last 90 days. 0.20% of the stock is owned by corporate insiders.
Trending Headlines about Western Digital
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Morgan Stanley said it expects Western Digital to deliver strong quarterly results and better-than-expected guidance, despite recent worries about AI financing and competition. The firm’s analyst called Western Digital and Seagate Technology “aggressive buys,” supporting the broader rebound in storage stocks. Seagate, Western Digital stocks gain as this analyst sees 80% upside
- Positive Sentiment: Western Digital is viewed as an AI infrastructure beneficiary because data centers require substantial hard-drive capacity. Investor attention is rising ahead of earnings, which could validate whether AI-driven storage demand is translating into stronger results and guidance. META Earnings & 2 Other AI-Related Reports to Watch This Week
- Neutral Sentiment: Morgan Stanley raised its Seagate price target but lowered its Western Digital target to $643 from $676. The revised target still implies substantial potential upside, but the reduction suggests analysts see some uncertainty in the near-term outlook. Seagate and Western Digital Stocks Sank Last Week
- Negative Sentiment: Jim Cramer warned that Western Digital and SanDisk could be among the most vulnerable stocks if data-center capacity expansion slows. Because recent profits and valuation enthusiasm are closely tied to AI infrastructure spending, any pullback could pressure earnings expectations and the share price. Cramer warns SanDisk and Western Digital are worst stocks if data center capacity shrinks
Western Digital Company Profile
Western Digital Corporation (NASDAQ: WDC) is a data storage technology company that develops and manufactures hard disk drives (HDDs) and related storage solutions. Its products are used in data centers, cloud infrastructure, enterprise systems, personal computers, gaming platforms and external storage devices.
The company offers HDD-based products for business and consumer applications, including high-capacity drives designed for hyperscale and cloud data centers, enterprise storage environments, network-attached storage systems and personal computing.
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