Caerus Investment Advisors LLC increased its stake in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) by 48.9% in the fourth quarter, HoldingsChannel reports. The firm owned 4,596 shares of the data storage provider’s stock after buying an additional 1,510 shares during the quarter. Caerus Investment Advisors LLC’s holdings in Western Digital were worth $792,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. boosted its stake in Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after buying an additional 407 shares during the last quarter. Avion Wealth boosted its stake in Western Digital by 163.8% in the 4th 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 last quarter. BOKF NA boosted its stake in Western Digital by 6,700.0% in the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider’s stock worth $33,000 after buying an additional 268 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in Western Digital in the 3rd quarter worth about $33,000. Finally, Ameriflex Group Inc. boosted its stake in Western Digital by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 312 shares of the data storage provider’s stock worth $37,000 after buying an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.
Key Headlines Impacting Western Digital
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Western Digital and related memory stocks rebounded as investors rotated back into the group following SK Hynix’s capacity plan, which helped sentiment across the storage space. SanDisk Jumps 14%, Western Digital Climbs 6% as Memory Stocks Rebound on SK Hynix’s Capacity Plan
- Positive Sentiment: Analysts remain constructive on WDC, with recent price target increases from Mizuho and Citi reinforcing expectations for continued AI-driven storage demand and stronger earnings estimates. Mizuho and Citi Raise Western Digital (WDC) Price Targets
- Positive Sentiment: Western Digital’s stock has also benefited from ongoing investor optimism around AI storage demand, pricing gains, and its more focused HDD-centric business mix. Western Digital Stock Skyrockets 185% YTD: Is More Growth on the Horizon?
- Neutral Sentiment: Western Digital announced a privately negotiated share exchange involving SanDisk investors, which may affect the company’s capital structure but is not clearly a direct earnings driver yet. Western Digital Announces Sandisk Share Exchange With Investors
- Neutral Sentiment: Recent broker commentary has kept WDC at a “Moderate Buy,” supporting the stock but largely confirming already positive sentiment rather than adding a new catalyst. Western Digital Corporation Receives Consensus Rating of Moderate Buy from Brokerages
Western Digital Price Performance
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, beating the consensus estimate of $2.39 by $0.33. The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company’s quarterly revenue was up 45.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, analysts expect that Western Digital Corporation will post 9.57 EPS for the current fiscal year.
Western Digital Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be issued a $0.15 dividend. This is a positive change from Western Digital’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Western Digital’s dividend payout ratio (DPR) is 3.58%.
Analysts Set New Price Targets
WDC has been the topic of several research analyst reports. Bank of America lifted their price objective on Western Digital to $495.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Barclays lifted their price objective on Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Jefferies Financial Group set a $575.00 price objective on Western Digital in a research note on Tuesday, May 26th. Robert W. Baird lifted their price objective on Western Digital from $310.00 to $450.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, Weiss Ratings raised Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and an average price target of $433.29.
Check Out Our Latest Stock Analysis on Western Digital
Insider Buying and Selling
In related news, insider Cynthia L. Tregillis sold 432 shares of the firm’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 value of $235,699.20. Following the sale, the insider owned 116,643 shares of the company’s stock, 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, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction 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 sale, the chief executive officer directly owned 598,150 shares in the company, valued at $246,342,096. The trade was a 3.24% 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. In the last 90 days, insiders sold 29,322 shares of company stock worth $12,768,550. Company insiders own 0.18% of the company’s stock.
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.
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