Chapin Davis Inc. Has $28.20 Million Stock Position in Western Digital Corporation $WDC

Chapin Davis Inc. lessened its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 27.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,160 shares of the data storage provider’s stock after selling 16,881 shares during the quarter. Western Digital comprises about 5.0% of Chapin Davis Inc.’s investment portfolio, making the stock its biggest holding. Chapin Davis Inc.’s holdings in Western Digital were worth $28,205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Western Digital by 7.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after buying an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Western Digital by 229.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after acquiring an additional 967 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Western Digital during the 2nd quarter worth $307,000. Cresset Asset Management LLC bought a new stake in shares of Western Digital during the 2nd quarter valued at $292,000. Finally, Federated Hermes Inc. grew its position in shares of Western Digital by 55.3% during the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after acquiring an additional 845 shares during the period. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Price Performance

Shares of WDC opened at $519.17 on Thursday. The stock has a market capitalization of $178.95 billion, a price-to-earnings ratio of 31.00 and a beta of 2.14. Western Digital Corporation has a 1 year low of $73.14 and a 1 year high of $799.87. The business’s 50 day simple moving average is $569.14 and its 200-day simple moving average is $415.61.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Tuesday, August 4th. The data storage provider reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.25. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.70 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The firm’s revenue for the quarter was up 43.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.66 EPS. On average, sell-side analysts expect that Western Digital Corporation will post 9.61 earnings per share for the current year.

Western Digital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital’s dividend payout ratio (DPR) is 3.58%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. UBS Group reaffirmed a “neutral” rating and issued a $560.00 price objective on shares of Western Digital in a research note on Monday, July 13th. TD Cowen increased their target price on shares of Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Morgan Stanley raised their target price on shares of Western Digital from $488.00 to $650.00 and gave the stock an “overweight” rating in a research note on Monday, June 15th. Fox Advisors downgraded shares of Western Digital from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Finally, Weiss Ratings upgraded shares of Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and a consensus price target of $520.32.

Insider Transactions at Western Digital

In other news, Director Bruce E. Kiddoo sold 750 shares of the stock in a transaction that occurred 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 directly owned 3,903 shares in the company, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cynthia L. Tregillis sold 808 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total value of $427,941.04. Following the sale, the insider owned 114,539 shares of the company’s stock, valued at approximately $60,663,290.57. This represents a 0.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 5,093 shares of company stock worth $2,751,337. 0.18% of the stock is currently owned by insiders.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Western Digital reported fiscal Q4 adjusted earnings of $3.56 per share, above the roughly $3.31–$3.35 analyst consensus, while revenue reached $3.75 billion versus expectations near $3.70 billion. Earnings more than doubled from $1.66 per share a year earlier, and revenue increased 43.8% year over year. Western Digital Q4 Earnings and Revenues Top Estimates
• Positive Sentiment: Management issued first-quarter fiscal 2027 guidance above Wall Street forecasts, calling for adjusted EPS of $3.85–$4.15 versus consensus of $3.63 and revenue of $4.0–$4.2 billion versus expectations of approximately $3.9 billion. The outlook signals continued strength in data-storage demand, including demand associated with AI infrastructure.
• Neutral Sentiment: The results reinforce Western Digital’s improving fundamentals: strong memory-technology demand, expanding profitability and continued enterprise-storage momentum. However, the stock had already risen sharply this year, raising the bar for an earnings-related rally. Western Digital Profit Surges as Revenue Grows
• Negative Sentiment: Despite beating estimates and raising guidance, Western Digital sold off after hours alongside SanDisk. The reaction suggests investors may have been positioned for an even stronger report, or may be taking profits after the stock’s large year-to-date advance. Why SanDisk and Western Digital Stocks Are Falling After Hours
• Negative Sentiment: The immediate market takeaway was a “sell the news” response: strong reported results and above-consensus guidance were not enough to overcome elevated expectations and volatility across technology and storage stocks. Western Digital Beats Q4 Estimates, Stock Falls on Guidance

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.