Temasek Holdings Private Ltd purchased a new position in Western Digital Corporation (NASDAQ:WDC – Free Report) in the 1st quarter, Holdings Channel.com reports. The firm purchased 83,092 shares of the data storage provider’s stock, valued at approximately $22,476,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WDC. Rakuten Securities Inc. raised its holdings in shares of 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 in the last quarter. Avion Wealth lifted its position in shares of Western Digital by 163.8% during 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 period. Valley Wealth Managers Inc. acquired a new stake in Western Digital in the 1st quarter valued at $32,000. Swiss RE Ltd. bought a new stake in Western Digital in the fourth quarter valued at $32,000. Finally, BOKF NA grew its position in Western Digital by 6,700.0% in the third quarter. BOKF NA now owns 272 shares of the data storage provider’s stock valued at $33,000 after acquiring an additional 268 shares during the period. Institutional investors own 92.51% of the company’s stock.
Key Western Digital News
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Western Digital is benefiting from a sector-wide rebound in semiconductors, with investors buying back into memory stocks after a steep pullback. Why Is Western Digital Stock Surging on Tuesday?
- Positive Sentiment: Reports that AI is driving stronger memory and storage demand are supporting the bull case for Western Digital, with analysts expecting a continued recovery in pricing and earnings power. NVIDIA Isn’t Leading AI Stocks in 2026 – These 2 Are Up Over 180%
- Positive Sentiment: Several market summaries say Western Digital is part of a broad AI trade rebound, alongside Micron and SanDisk, as investors look ahead to major tech earnings and a potential memory upgrade cycle. Chip Stocks Surge but Software Sector Feels the Pain Again
- Neutral Sentiment: Western Digital has also been mentioned in commentary about a possible 2027 hardware refresh cycle tied to AI memory growth, which could help long-term demand but is still more of a future thesis than a near-term catalyst. AAPL, HPQ, SNDK, WDC: Gene Munster Says ‘Memory Hog’ AI Will Trigger a Massive 2027 Upgrade Cycle
Western Digital Price Performance
Western Digital (NASDAQ:WDC – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the previous year, the company 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. As a group, analysts anticipate that Western Digital Corporation will post 9.61 EPS for the current year.
Western Digital Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is a boost from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 5th. Western Digital’s payout ratio is currently 3.58%.
Insider Transactions at Western Digital
In related news, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction dated 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 in the company, valued at $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cynthia L. Tregillis sold 432 shares of the business’s stock in a transaction dated 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,959 shares of company stock worth $12,631,666 in the last ninety days. 0.18% of the stock is currently owned by insiders.
Analysts Set New Price Targets
WDC has been the subject of a number of analyst reports. Weiss Ratings raised Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 13th. Sanford C. Bernstein raised shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 target price on the stock in a report on Tuesday, March 31st. Bank of America upped their target price on shares of Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Cantor Fitzgerald increased their target price on shares of Western Digital from $660.00 to $900.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Morgan Stanley lifted their price target on shares of Western Digital from $488.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $520.32.
Read Our Latest Stock Analysis on WDC
Western Digital 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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