1,095 Shares in Western Digital Corporation $WDC Purchased by Ocean Park Asset Management LLC

Ocean Park Asset Management LLC purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,095 shares of the data storage provider’s stock, valued at approximately $296,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Alps Advisors Inc. increased its stake in shares of Western Digital by 0.8% during the fourth quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider’s stock valued at $811,000 after buying an additional 37 shares during the period. Quadcap Wealth Management LLC lifted its stake in Western Digital by 2.1% in the fourth quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock worth $346,000 after acquiring an additional 41 shares during the period. Moss Adams Wealth Advisors LLC boosted its holdings in Western Digital by 2.6% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider’s stock valued at $341,000 after acquiring an additional 51 shares in the last quarter. Bogart Wealth LLC boosted its holdings in Western Digital by 19.4% in the fourth quarter. Bogart Wealth LLC now owns 369 shares of the data storage provider’s stock valued at $64,000 after acquiring an additional 60 shares in the last quarter. Finally, CYBER HORNET ETFs LLC increased its position in Western Digital by 7.2% during the 4th quarter. CYBER HORNET ETFs LLC now owns 889 shares of the data storage provider’s stock valued at $153,000 after purchasing an additional 60 shares during the period. Institutional investors own 92.51% of the company’s stock.

Analysts Set New Price Targets

WDC has been the subject of several research reports. Barclays upped their price objective on shares of Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Fox Advisors cut shares of Western Digital from an “overweight” rating to an “equal weight” rating in a research report on Monday. Wall Street Zen raised shares of Western Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Wells Fargo & Company raised their price objective on shares of Western Digital from $500.00 to $575.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Finally, Citigroup lifted their price objective 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 equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $450.46.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Western Digital is benefiting from a broad rally in memory and storage stocks ahead of Micron’s earnings, with investors betting that AI infrastructure demand will keep pricing and shipments strong. Micron and Western Digital Rise 6%, SanDisk Gains 5% as Memory Stocks Rally Into Micron’s Earnings
• Positive Sentiment: JPMorgan recently raised its price target on Western Digital to $650 from $530 and kept an Overweight rating, citing improved earnings expectations. JPMorgan Lifts PT on Western Digital Corporation (WDC)
• Positive Sentiment: Recent coverage highlighted Western Digital as a major AI memory and storage beneficiary, with strong revenue growth and guidance suggesting the trend can continue. Don’t Forget About Western Digital Amid Sandisk Euphoria
• Neutral Sentiment: Western Digital remains a heavily watched stock, with investor attention rising as the AI storage theme keeps drawing traders into the name. Western Digital Corporation (WDC) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: One technical note said the shares are very overbought, which could mean a short-term pullback if momentum cools. Stock Of The Day: When Will Western Digital Reverse?
• Negative Sentiment: Fox Advisors downgraded Western Digital from Overweight to Equal Weight, which may temper some enthusiasm after the recent run-up. The Fly downgrade item
• Negative Sentiment: Western Digital also slipped more than the broader market in the latest session, suggesting some profit-taking after a very strong move. Why Western Digital (WDC) Dipped More Than Broader Market Today

Insider Buying and Selling

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the company’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 in the company, valued at $47,366,060.96. This represents a 2.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Bruce E. Kiddoo sold 750 shares of the firm’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 directly owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 29,322 shares of company stock valued at $12,768,550. 0.18% of the stock is owned by company insiders.

Western Digital Price Performance

NASDAQ:WDC opened at $732.62 on Tuesday. The firm’s 50-day moving average price is $495.01 and its 200-day moving average price is $332.35. The company has a market capitalization of $252.52 billion, a PE ratio of 43.74 and a beta of 2.13. Western Digital Corporation has a 1-year low of $58.66 and a 1-year high of $799.87.

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 analysts’ consensus estimates of $2.39 by $0.33. The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. Western Digital’s revenue was up 45.5% on a year-over-year basis. During the same period last year, the company posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities analysts anticipate that Western Digital Corporation will post 9.6 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 $0.15 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s payout ratio 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.