Western Digital Corporation $WDC Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP lowered its position in shares of Western Digital Corporation (NASDAQ:WDC) by 18.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,099 shares of the data storage provider’s stock after selling 7,256 shares during the quarter. Cinctive Capital Management LP’s holdings in Western Digital were worth $5,530,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Guggenheim Capital LLC raised its holdings in shares of Western Digital by 259.5% during the fourth quarter. Guggenheim Capital LLC now owns 108,429 shares of the data storage provider’s stock valued at $18,679,000 after acquiring an additional 78,267 shares during the last quarter. Caisse de depot et placement du Quebec raised its holdings in shares of Western Digital by 532.6% during the fourth quarter. Caisse de depot et placement du Quebec now owns 593,296 shares of the data storage provider’s stock valued at $102,207,000 after acquiring an additional 499,510 shares during the last quarter. Hawk Ridge Capital Management LP raised its holdings in shares of Western Digital by 103.9% during the fourth quarter. Hawk Ridge Capital Management LP now owns 325,700 shares of the data storage provider’s stock valued at $56,108,000 after acquiring an additional 166,000 shares during the last quarter. DV Equities LLC acquired a new position in shares of Western Digital during the fourth quarter valued at approximately $84,000. Finally, J. Goldman & Co LP acquired a new position in shares of Western Digital during the fourth quarter valued at approximately $3,101,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Rosenblatt Securities increased their target price on 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 restated a “neutral” rating and issued a $400.00 price target on shares of Western Digital in a research report on Friday, May 1st. Evercore restated an “outperform” rating and issued a $575.00 price target on shares of Western Digital in a research report on Tuesday, May 26th. Barclays upped their price target on Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Finally, Citigroup upped their price target on Western Digital from $500.00 to $685.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $450.46.

Western Digital Stock Up 4.6%

WDC opened at $712.13 on Thursday. Western Digital Corporation has a 52 week low of $58.53 and a 52 week high of $741.85. The business has a fifty day simple moving average of $470.28 and a 200-day simple moving average of $320.11. The firm has a market cap of $245.46 billion, a P/E ratio of 42.52 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, topping 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 business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same period last year, the business posted $1.36 earnings per share. The company’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. Sell-side analysts expect that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The company 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 is an increase from Western Digital’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Friday, June 5th. Western Digital’s dividend payout ratio (DPR) is 3.58%.

Insider Transactions at Western Digital

In other news, insider Cynthia L. Tregillis sold 432 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was 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. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $411.84, for a total value of $8,236,800.00. Following the transaction, the chief executive officer owned 598,150 shares of the company’s stock, valued at approximately $246,342,096. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 29,322 shares of company stock valued at $12,768,550. Corporate insiders own 0.18% of the company’s stock.

Western Digital News Summary

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

• Positive Sentiment: Morgan Stanley boosted its outlook on Western Digital, lifting its price target and reinforcing a bullish view on HDD demand and the company’s HAMR roadmap, which helped push the shares to new highs. Western Digital Stock Just Hit a New All-Time High. Here’s Why.
• Positive Sentiment: Several articles point to surging AI infrastructure spending and cloud storage demand as the main catalyst, with Western Digital increasingly viewed as a beneficiary of the AI trade. Western Digital stock jumps as AI trade reignites
• Positive Sentiment: Recent coverage says earnings are nearly doubling on AI and cloud demand, while estimates continue to move higher, supporting momentum-trader interest in WDC. Western Digital (WDC) Moves 4.2% Higher: Will This Strength Last?
• Neutral Sentiment: Investors are also watching the June 22 SanDisk-related catalyst, which could influence sentiment but is not yet a confirmed financial event. Dear Western Digital Stock Fans, Mark Your Calendars for June 22
• Negative Sentiment: Some commentary warns the rally may have run ahead of fundamentals and could be due for a near-term pullback after the stock’s massive year-to-date run. Western Digital stock looks ripe for a near-term pullback: find out more

Western Digital 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.