Western Digital Corporation $WDC Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC boosted its position in Western Digital Corporation (NASDAQ:WDC) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,679 shares of the data storage provider’s stock after buying an additional 1,409 shares during the period. Corient Private Wealth LLC’s holdings in Western Digital were worth $10,281,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Western Digital during the 4th quarter valued at approximately $788,729,000. Fred Alger Management LLC increased its stake in shares of Western Digital by 4,923.9% in 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 acquiring an additional 3,339,225 shares during the period. Soroban Capital Partners LP raised its holdings 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 purchased a new position in shares of Western Digital during the third quarter worth $221,800,000. Finally, National Pension Service lifted its position in 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 valued at $291,422,000 after purchasing an additional 1,231,477 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

WDC has been the topic of several recent research reports. Cantor Fitzgerald upped their price target on shares of Western Digital to $660.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Weiss Ratings upgraded Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 15th. UBS Group boosted their price objective on Western Digital from $350.00 to $375.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Rosenblatt Securities upped their target price on Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on Western Digital from $530.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. One 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $450.46.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Micron’s earnings beat and guidance are lifting memory stocks, including Western Digital, on renewed optimism for the storage cycle.
• Positive Sentiment: Analysts continue to view Western Digital favorably, with recent price targets clustering well above the broader market’s expectations.
• Positive Sentiment: Longer-term articles highlighted stronger customer buying patterns and contract shifts that could support a higher valuation for WDC. The Quiet Contract Shift Before Western Digital Stock’s Loud Re-Rating

Western Digital Stock Down 4.3%

NASDAQ:WDC opened at $641.73 on Thursday. Western Digital Corporation has a 52 week low of $62.13 and a 52 week high of $799.87. The stock’s 50-day moving average price is $507.39 and its 200-day moving average price is $339.36. The stock has a market capitalization of $221.19 billion, a PE ratio of 38.31 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 earnings per share for the quarter, topping 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 return on equity of 42.95% and a net margin of 55.29%.Western Digital’s quarterly revenue was up 45.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 EPS. 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 fiscal year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. This is a boost from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 5th. Western Digital’s dividend payout ratio (DPR) is presently 3.58%.

Insiders Place Their Bets

In other news, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction that occurred 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 transaction, the insider owned 116,643 shares in the company, valued at $63,640,420.80. This trade represents a 0.37% decrease in their position. The sale 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, insider Vidyadhara K. Gubbi sold 4,674 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $443.19, for a total value of $2,071,470.06. Following the transaction, the insider owned 90,041 shares in the company, valued at $39,905,270.79. This trade represents a 4.93% 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. Corporate insiders own 0.18% of the company’s stock.

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.