Wolf Hill Capital Management LP Lowers Stake in Western Digital Corporation $WDC

Wolf Hill Capital Management LP lessened its stake in Western Digital Corporation (NASDAQ:WDC) by 3.6% during the fourth quarter, HoldingsChannel reports. The firm owned 590,395 shares of the data storage provider’s stock after selling 22,261 shares during the period. Western Digital comprises approximately 11.2% of Wolf Hill Capital Management LP’s portfolio, making the stock its 5th biggest holding. Wolf Hill Capital Management LP’s holdings in Western Digital were worth $101,707,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Avion Wealth raised its holdings in shares of Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 113 shares during the period. Swiss RE Ltd. bought a new stake in shares of Western Digital in the 4th quarter worth approximately $32,000. Concord Wealth Partners bought a new stake in shares of Western Digital in the 4th quarter worth approximately $41,000. BOKF NA raised its holdings in shares of Western Digital by 6,700.0% in the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider’s stock worth $33,000 after purchasing an additional 268 shares during the period. Finally, JPL Wealth Management LLC bought a new stake in shares of Western Digital in the 3rd quarter worth approximately $33,000. Institutional investors own 92.51% of the company’s stock.

Insider Activity

In other news, 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 directly owned 116,643 shares in the company, valued at $63,640,420.80. The trade was a 0.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total transaction of $396,390.00. Following the transaction, the director owned 3,903 shares of the company’s stock, valued at $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,322 shares of company stock valued at $12,768,550 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Western Digital News Roundup

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

• Positive Sentiment: JPMorgan raised its price target on Western Digital from $530 to $650 and reiterated an overweight rating, signaling more upside potential for the shares. Article Title
• Positive Sentiment: The company announced a Sandisk share exchange with institutional investors, a move that has been interpreted as supportive of the stock and part of a broader capital strategy. Article Title
• Positive Sentiment: Western Digital highlighted AI-focused storage innovation at Computex, reinforcing the market’s view that it is well positioned to benefit from data-center and AI infrastructure spending. Article Title
• Positive Sentiment: Analysts also pointed to strong free cash flow, a larger dividend, and a new $4 billion buyback plan, which supports the investment case by showing confidence in cash generation and shareholder returns. Article Title
• Neutral Sentiment: Western Digital has been outperforming the broader market over the past year, and brokerages still generally rate the stock a moderate buy, which supports sentiment but is more of a confirmation than a new catalyst. Article Title
• Negative Sentiment: One recent market note said WDC slipped with the broader market after a hotter-than-expected CPI report revived rate-hike concerns, showing that macro pressure can still weigh on the stock at times. Article Title

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WDC shares. Rosenblatt Securities boosted their target price on shares of Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a report on Friday, May 1st. The Goldman Sachs Group reissued a “neutral” rating and set a $400.00 target price on shares of Western Digital in a report on Friday, May 1st. UBS Group boosted their target price on shares of Western Digital from $350.00 to $375.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Evercore reissued an “outperform” rating and set a $575.00 target price on shares of Western Digital in a report on Tuesday, May 26th. Finally, Barclays boosted their target price on shares of Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Western Digital presently has an average rating of “Moderate Buy” and a consensus target price of $443.71.

Western Digital Price Performance

Shares of WDC stock opened at $562.92 on Monday. The company’s fifty day simple moving average is $447.23 and its two-hundred day simple moving average is $309.01. Western Digital Corporation has a 1 year low of $54.60 and a 1 year high of $602.54. The stock has a market capitalization of $194.03 billion, a price-to-earnings ratio of 33.61 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was up 45.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities research analysts anticipate that Western Digital Corporation will post 9.6 EPS for the current year.

Western Digital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be given a dividend of $0.15 per share. This is an increase from Western Digital’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital’s dividend payout ratio (DPR) is presently 3.58%.

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.