Engineers Gate Manager LP Cuts Stock Holdings in Western Digital Corporation $WDC

Posted by Brian Himes on Sep 10th, 2026

Engineers Gate Manager LP lowered its position in shares of Western Digital Corporation (NASDAQ:WDC – Free Report) by 43.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,678 shares of the data storage provider’s stock after selling 29,391 shares during the period. Engineers Gate Manager LP’s holdings in Western Digital were worth $24,704,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in Western Digital in the 2nd quarter valued at approximately $28,000. Dunhill Financial LLC purchased a new position in shares of Western Digital in the second quarter worth $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Western Digital in the second quarter worth $31,000. Gables Capital Management Inc. bought a new position in shares of Western Digital during the second quarter valued at $32,000. Finally, Ares Financial Consulting LLC boosted its position in shares of Western Digital by 45.5% during the second quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock valued at $51,000 after buying an additional 25 shares during the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Stock Performance

Shares of Western Digital stock opened at $482.28 on Thursday. The stock has a market cap of $166.23 billion, a P/E ratio of 19.92, a P/E/G ratio of 2.02 and a beta of 2.13. The stock’s fifty day moving average is $496.79 and its 200 day moving average is $450.83. Western Digital Corporation has a one year low of $93.92 and a one year high of $799.87.

Western Digital (NASDAQ:WDC – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.25. The business had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.70 billion. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.Western Digital’s revenue for the quarter was up 43.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.66 earnings per share. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Analysts predict that Western Digital Corporation will post 19.65 EPS for the current year.

Western Digital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, September 8th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Western Digital’s dividend payout ratio is currently 2.48%.

Trending Headlines about Western Digital

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

Positive Sentiment: AI-driven storage demand remains a key growth catalyst. Rising data volumes from AI inference, agentic AI and other emerging workloads could support long-term demand for Western Digital’s data-center storage products. AI Data Explosion: Can WDC Become a Bigger Storage Winner?
Positive Sentiment: Strong free cash flow supports shareholder returns. WDC entered fiscal 2027 with stronger cash generation and a net cash position, potentially enabling continued buybacks and dividend payments. The company recently declared a quarterly dividend of $0.15 per share. Can Western Digital’s Strong FCF Sustain Buybacks and Dividends?
Positive Sentiment: Recent operating performance has exceeded expectations. Western Digital’s latest reported quarter included adjusted earnings of $3.56 per share versus the $3.31 consensus estimate, while revenue rose 43.8% year over year to $3.75 billion. Fiscal first-quarter 2027 guidance of $3.85–$4.15 in EPS reinforces the bullish earnings narrative.
Neutral Sentiment: Management’s Citi Global TMT Conference presentation is in focus. Investors are evaluating the company’s latest commentary on storage demand, AI exposure and fiscal 2027 prospects for additional clues about the sustainability of its growth. Western Digital Presents at Citi’s 2026 Global TMT Conference
Negative Sentiment: Valuation has become a concern. A separate analysis questions whether WDC is priced too aggressively after its substantial advance. With the stock trading at roughly 20 times earnings, further gains may depend on continued earnings growth and successful execution. Is Western Digital Priced Too High?
Negative Sentiment: Insider selling adds a modest cautionary signal. Insider Vidyadhara Gubbi sold 1,795 shares and Cynthia Tregillis sold 432 shares. Both retained sizable holdings, and Tregillis’s transaction was made under a pre-arranged Rule 10b5-1 plan, reducing its significance as a bearish signal. Western Digital Insider Selling

Wall Street Analyst Weigh In

WDC has been the subject of several research analyst reports. TD Cowen lifted their price objective on Western Digital from $500.00 to $540.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Bank of America upped their target price on shares of Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $676.00 price target on shares of Western Digital in a report on Thursday, August 6th. Wall Street Zen lowered shares of Western Digital from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Finally, Summit Insights cut shares of Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $534.56.

Check Out Our Latest Stock Report on Western Digital

Insider Buying and Selling

In other Western Digital news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the transaction, the chief executive officer owned 575,966 shares of the company’s stock, valued at $256,287,591.02. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara Gubbi sold 1,795 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $459.87, for a total transaction of $825,466.65. Following the completion of the transaction, the insider owned 80,571 shares of the company’s stock, valued at approximately $37,052,185.77. The trade was a 2.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 25,437 shares of company stock valued at $11,461,345. 0.18% of the stock is owned by corporate insiders.

Western Digital Company Profile

(Free Report)

Western Digital Corporation (NASDAQ: WDC) develops, manufactures and sells data storage products and solutions for data centers, cloud service providers, enterprises, businesses and consumers. Its portfolio is centered on hard disk drives (HDDs), including high-capacity enterprise drives used in cloud and data center environments, as well as products for network-attached storage, surveillance and personal computing.

The company markets products under brands including Western Digital, WD, WD_BLACK and Ultrastar.