Western Digital Corporation $WDC Shares Sold by Syon Capital LLC

Syon Capital LLC lowered its position in shares of Western Digital Corporation (NASDAQ:WDC) by 14.6% during the fourth quarter, Holdings Channel reports. The firm owned 9,430 shares of the data storage provider’s stock after selling 1,614 shares during the quarter. Syon Capital LLC’s holdings in Western Digital were worth $1,625,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in WDC. Norges Bank acquired a new stake in shares of Western Digital during the fourth quarter worth about $788,729,000. Fred Alger Management LLC increased its position in shares of Western Digital by 4,923.9% during the third quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock worth $409,049,000 after purchasing an additional 3,339,225 shares in the last quarter. Soroban Capital Partners LP increased its position in shares of Western Digital by 1,926.3% during the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after purchasing an additional 2,910,062 shares in the last quarter. Polar Capital Holdings Plc acquired a new stake in shares of Western Digital during the third quarter worth about $221,800,000. Finally, National Pension Service increased its position in shares of Western Digital by 267.6% during the fourth quarter. National Pension Service now owns 1,691,659 shares of the data storage provider’s stock worth $291,422,000 after purchasing an additional 1,231,477 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insiders Place Their Bets

In other Western Digital news, insider Cynthia L. Tregillis sold 432 shares of Western Digital 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. The trade was a 0.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction that occurred on Thursday, May 28th. The shares were 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 represents a 16.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,322 shares of company stock worth $12,768,550 over the last quarter. 0.18% of the stock is owned by company insiders.

Western Digital News Roundup

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

• Positive Sentiment: Western Digital is benefiting from strong investor enthusiasm around AI-driven storage demand, with recent articles highlighting new AI-focused storage technologies, improved analyst valuation estimates, and expectations for firmer HDD and memory pricing. Why Western Digital (WDC) Is Up 12.0% After Unveiling New AI?Focused Storage Technologies
• Positive Sentiment: Citigroup reportedly raised its price target on Western Digital by 37%, helping push the stock to fresh highs as investors positioned ahead of the company’s Computex-related AI announcements. Western Digital (WDC) Hits All-Time High as Citi Hikes PT by 37%
• Positive Sentiment: The company has also been cleaning up its balance sheet and making more AI-related moves, which some investors view as supporting additional upside. Western Digital Could Be Halfway Through Retiring 2028 Convertible Debt. What It Means for the Stock.
• Neutral Sentiment: Western Digital’s recent earnings were strong, with the company beating estimates and issuing upbeat guidance, but the stock still saw a short-term dip as some traders appeared to take profits after a big run. Western Digital (WDC) Stock Dips 3% Despite Strong Earnings—Should Investors Buy the Pullback?
• Neutral Sentiment: Recent coverage also notes that the broader market and semiconductor stocks have been choppy, with Broadcom’s cautious AI outlook pressuring memory names like Western Digital even after the company’s strong news flow. MU, SNDK, WDC: Memory Stocks Dip As Broadcom’s Forecast Dampens AI Sentiment, Retail Turns Buyer
• Negative Sentiment: One near-term headwind is profit-taking after Western Digital’s rapid run-up to all-time highs, which has led to some price weakness despite the longer-term bullish narrative. Western Digital (WDC) Stock Dips While Market Gains: Key Facts

Wall Street Analyst Weigh In

WDC has been the topic of a number of research analyst reports. Rosenblatt Securities lifted their target price on Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Sanford C. Bernstein upgraded Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price target on the stock in a research report on Tuesday, March 31st. Wedbush restated an “outperform” rating and issued a $325.00 price target on shares of Western Digital in a research report on Monday, February 9th. Morgan Stanley restated an “overweight” rating and issued a $488.00 price target on shares of Western Digital in a research report on Friday, May 1st. Finally, Mizuho set a $470.00 price target on Western Digital in a research report on Friday, May 1st. One 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $424.33.

Western Digital Price Performance

Shares of WDC stock opened at $511.72 on Monday. The stock has a market capitalization of $176.38 billion, a PE ratio of 30.55 and a beta of 2.13. Western Digital Corporation has a 52-week low of $54.60 and a 52-week high of $602.54. The stock’s 50-day moving average price is $422.06 and its 200 day moving average price is $295.71.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The firm’s revenue for the quarter was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Analysts expect that Western Digital Corporation will post 9.57 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is a boost from Western Digital’s previous quarterly dividend of $0.13. Western Digital’s dividend payout ratio is presently 3.58%.

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.