48,571 Shares in Western Digital Corporation $WDC Acquired by Jupiter Topco LLC

Jupiter Topco LLC purchased a new position in Western Digital Corporation (NASDAQ:WDC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 48,571 shares of the data storage provider’s stock, valued at approximately $31,021,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB increased its stake in Western Digital by 71.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 230,578 shares of the data storage provider’s stock worth $147,275,000 after buying an additional 96,078 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Western Digital by 33.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,122,095 shares of the data storage provider’s stock valued at $193,303,000 after buying an additional 282,156 shares during the period. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Western Digital in the 4th quarter valued at approximately $20,889,000. World Investment Advisors grew its stake in shares of Western Digital by 145.8% in the fourth quarter. World Investment Advisors now owns 5,950 shares of the data storage provider’s stock worth $1,025,000 after acquiring an additional 3,529 shares in the last quarter. Finally, Win Advisors Inc. acquired a new position in shares of Western Digital in the fourth quarter worth $1,233,000. Institutional investors own 92.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on WDC. Melius Research set a $1,050.00 price objective on Western Digital and gave the company a “buy” rating in a research note on Monday, June 29th. Wells Fargo & Company boosted their target price on Western Digital from $575.00 to $730.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Cantor Fitzgerald upped their price target on Western Digital from $660.00 to $900.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. TD Cowen upped their price target on Western Digital from $500.00 to $540.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $400.00 price target on shares of Western Digital in a research report on Friday, May 1st. Two 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 company. According to data from MarketBeat.com, Western Digital presently has a consensus rating of “Moderate Buy” and an average target price of $534.56.

Western Digital Trading Down 0.6%

Shares of WDC opened at $459.45 on Friday. Western Digital Corporation has a twelve month low of $77.90 and a twelve month high of $799.87. The firm’s fifty day simple moving average is $526.99 and its 200-day simple moving average is $439.63. The firm has a market capitalization of $158.36 billion, a price-to-earnings ratio of 18.98 and a beta of 2.14.

Western Digital (NASDAQ:WDC) last issued its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.25. The firm had revenue of $3.75 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.66 earnings per share. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. On average, analysts predict that Western Digital Corporation will post 19.65 earnings per share for the current fiscal year.

Western Digital Announces Dividend

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

Insider Transactions at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the sale, the chief executive officer owned 575,966 shares of the company’s stock, valued at approximately $256,287,591.02. This trade represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 1,007 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $478.36, for a total value of $481,708.52. Following the sale, the insider owned 112,155 shares of the company’s stock, valued at approximately $53,650,465.80. The trade was a 0.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 26,117 shares of company stock valued at $12,053,353. 0.18% of the stock is currently owned by corporate insiders.

Trending Headlines about Western Digital

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

• Positive Sentiment: Western Digital’s long-term outlook remains supported by demand for AI infrastructure, cloud computing, enterprise storage, automotive systems and other data-intensive applications. Analysts at Zacks continue to identify WDC as a potential beneficiary of strong memory and storage demand, particularly following Nvidia’s solid results. 4 High-Flying Memory and Storage Giants
• Positive Sentiment: The company’s latest quarterly results provide fundamental support: revenue rose 43.8% year over year to $3.75 billion, while earnings of $3.56 per share exceeded expectations. Guidance for $3.85 to $4.15 in next-quarter EPS also remains constructive.
• Positive Sentiment: Wall Street’s consensus remains bullish, with a “Moderate Buy” rating and an average price target above the current trading level. Several firms have cited continued AI and storage demand as reasons for further upside. Wall Street’s Bullish Views on WDC
• Neutral Sentiment: Insider Cynthia Tregillis sold a small portion of her holdings under a pre-arranged Rule 10b5-1 trading plan. The transactions modestly reduce her position but do not necessarily signal deteriorating confidence. Cynthia Tregillis Insider Transactions
• Negative Sentiment: Memory and storage stocks sold off even after Nvidia reported strong results, suggesting investors are taking profits from an extended AI trade and differentiating among suppliers. Western Digital’s underperformance versus peers has amplified concern that expectations or valuation may have become too aggressive. Why Memory Stocks Fell Despite Nvidia’s Results

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.