Trivest Advisors Ltd Sells 530,000 Shares of Western Digital Corporation $WDC

Trivest Advisors Ltd trimmed its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 60.6% during the first quarter, HoldingsChannel reports. The fund owned 345,000 shares of the data storage provider’s stock after selling 530,000 shares during the quarter. Western Digital comprises approximately 6.7% of Trivest Advisors Ltd’s holdings, making the stock its 6th largest position. Trivest Advisors Ltd’s holdings in Western Digital were worth $93,319,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Western Digital in the 4th quarter worth about $788,729,000. Soroban Capital Partners LP lifted 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 during the last quarter. Polar Capital Holdings Plc bought a new position in shares of Western Digital during the third quarter worth about $221,800,000. National Pension Service grew its stake in Western Digital by 267.6% in 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. Finally, AQR Capital Management LLC grew its stake in Western Digital by 70.4% in the fourth quarter. AQR Capital Management LLC now owns 2,972,703 shares of the data storage provider’s stock worth $512,107,000 after purchasing an additional 1,228,661 shares in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $556.24, for a total value of $1,376,694.00. Following the sale, the insider owned 85,154 shares of the company’s stock, valued at approximately $47,366,060.96. This trade represents a 2.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce E. Kiddoo sold 750 shares of the business’s 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 transaction, the director owned 3,903 shares of the company’s stock, 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 have sold a total of 29,322 shares of company stock valued at $12,768,550 over the last quarter. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on WDC. Jefferies Financial Group set a $575.00 price objective on Western Digital in a report on Tuesday, May 26th. Morgan Stanley increased their target price on Western Digital from $488.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Wells Fargo & Company lifted their target price on Western Digital from $575.00 to $730.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Melius Research set a $1,050.00 price target on Western Digital and gave the company a “buy” rating in a report on Monday, June 29th. Finally, Susquehanna upped their price target on Western Digital from $360.00 to $500.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Western Digital presently has an average rating of “Moderate Buy” and an average target price of $520.32.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $477.22 on Monday. Western Digital Corporation has a fifty-two week low of $66.04 and a fifty-two week high of $799.87. The firm has a 50-day simple moving average of $560.89 and a 200 day simple moving average of $386.04. The company has a market cap of $164.49 billion, a PE ratio of 28.49 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the business earned $1.36 earnings per share. Western Digital’s quarterly revenue was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, research analysts forecast that Western Digital Corporation will post 9.61 EPS for the current fiscal year.

Western Digital Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Friday, June 5th. This is a positive change from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s payout ratio is currently 3.58%.

Western Digital News Summary

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

• Positive Sentiment: New coverage says Western Digital is well positioned to benefit from global AI infrastructure growth, with rising demand for advanced memory and storage supporting a stronger long-term revenue outlook. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Another report highlighted Western Digital as one of two smaller AI storage names that could benefit from expanding data center demand, citing improving margins and earnings growth potential. Everyone’s Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: A separate Zacks piece argues AI data growth is accelerating HDD demand and that Western Digital’s focused strategy could help it capture hyperscale storage opportunities. AI Data Growth is Exploding: Can Western Digital Keep Up?
• Neutral Sentiment: Several market wrap-ups noted high volatility in tech and momentum stocks, which is adding noise to trading in Western Digital and other memory names. The Tech Shakeout: Market Extremes & Gavin Baker’s Bold Call
• Neutral Sentiment: Wall Street commentary also flagged Western Digital as part of a broader AI-memory trade, with analysts still generally constructive but market sentiment swinging sharply day to day. Which Storage Stock Is Best Positioned to Win the AI Memory War?
• Negative Sentiment: Multiple reports said Western Digital fell alongside SanDisk and Micron as investors took profits in semiconductor and memory stocks, reflecting sector-wide rotation rather than company-specific trouble. Nasdaq Slips as Chip Stocks Come Under Pressure
• Negative Sentiment: Western Digital also faced a post-rally pullback as traders reassessed how durable the AI-driven storage boom will be ahead of the company’s next earnings report and guidance. Why Western Digital (WDC) Stock Is Down Today

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.