Renaissance Technologies LLC boosted its holdings in Western Digital Corporation (NASDAQ:WDC – Free Report) by 15.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,146,133 shares of the data storage provider’s stock after acquiring an additional 153,600 shares during the quarter. Western Digital makes up approximately 0.5% of Renaissance Technologies LLC’s holdings, making the stock its 23rd biggest holding. Renaissance Technologies LLC’s holdings in Western Digital were worth $310,018,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Western Digital in the 1st quarter valued at approximately $216,000. Compound Planning Inc. boosted its position in Western Digital by 13.6% in the first quarter. Compound Planning Inc. now owns 6,883 shares of the data storage provider’s stock valued at $1,862,000 after buying an additional 825 shares in the last quarter. Klingman & Associates LLC bought a new stake in shares of Western Digital during the first quarter worth $256,000. Keebeck Wealth Management bought a new stake in shares of Western Digital during the first quarter worth $339,000. Finally, Atika Capital Management LLC acquired a new position in shares of Western Digital during the first quarter worth $10,202,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, 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 transaction of $8,236,800.00. Following the completion of the transaction, the chief executive officer owned 598,150 shares of the company’s stock, valued at $246,342,096. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 432 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the completion of the transaction, the insider owned 116,643 shares in the company, valued at approximately $63,640,420.80. The trade was a 0.37% 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 sold 28,959 shares of company stock worth $12,631,666 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.
Western Digital Price Performance
Western Digital (NASDAQ:WDC – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.33. The firm 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 revenue was up 45.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, research analysts expect that Western Digital Corporation will post 9.61 earnings per share for the current year.
Western Digital Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were given 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 was Friday, June 5th. Western Digital’s dividend payout ratio is currently 3.58%.
Trending Headlines about Western Digital
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Memory-chip peers such as Micron, Sandisk, and SK Hynix were reported surging on continued enthusiasm for AI infrastructure spending and tight memory supply, which can lift sentiment for Western Digital as well. Article: Why Micron, Sandisk, and SK Hynix Are Surging—And How to Play It
- Positive Sentiment: Analysts highlighted Western Digital’s AI storage exposure and relatively stronger financial footing versus peers like Super Micro, reinforcing the stock’s appeal as an AI hardware play. Article: WDC vs. SMCI: Which AI Hardware Stock is the Smarter Investment Now?
- Positive Sentiment: A valuation piece argued that Western Digital still looks attractive on earnings and especially cheap on a cash-flow basis, suggesting the recent rally may have room to continue if AI demand remains strong. Article: Western Digital (WDC) Stock Looks Reasonable On Earnings While Cash Flow Looks Cheap
- Neutral Sentiment: One report said Western Digital reentered merger-focused discussion, but it did not provide a concrete transaction update, so the near-term stock impact is unclear. Article: Western Digital (WDC) Reenters Merger Focus, Where Does Fair Value Sit?
- Neutral Sentiment: Short-interest data showed no meaningful short position reported, which does not appear to be a major driver of the stock today.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on WDC. Melius Research set a $1,050.00 price target on Western Digital and gave the company a “buy” rating in a research note on Monday, June 29th. Rosenblatt Securities boosted their price objective on Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Susquehanna upped their target price on Western Digital from $360.00 to $500.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Citigroup increased their target price on Western Digital from $685.00 to $800.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, Robert W. Baird boosted their price target on Western Digital from $310.00 to $450.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $520.32.
Read Our Latest Stock Report on Western Digital
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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