Fisher Asset Management LLC Makes New Investment in Western Digital Corporation $WDC

Fisher Asset Management LLC acquired a new position in shares of Western Digital Corporation (NASDAQ:WDC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,991 shares of the data storage provider’s stock, valued at approximately $2,066,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Quadcap Wealth Management LLC raised its position in Western Digital by 2.1% during 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 raised its position in Western Digital by 2.6% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider’s stock worth $341,000 after acquiring an additional 51 shares during the period. Bogart Wealth LLC raised its position in Western Digital by 19.4% during the fourth quarter. Bogart Wealth LLC now owns 369 shares of the data storage provider’s stock worth $64,000 after acquiring an additional 60 shares during the period. CYBER HORNET ETFs LLC grew its holdings in shares of Western Digital by 7.2% during the fourth quarter. CYBER HORNET ETFs LLC now owns 889 shares of the data storage provider’s stock worth $153,000 after buying an additional 60 shares in the last quarter. Finally, 44 Wealth Management LLC grew its holdings in shares of Western Digital by 0.8% during the third quarter. 44 Wealth Management LLC now owns 9,329 shares of the data storage provider’s stock worth $1,120,000 after buying an additional 78 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Trading Up 0.0%

Shares of WDC opened at $531.21 on Friday. Western Digital Corporation has a 12-month low of $51.17 and a 12-month high of $553.50. The firm has a 50-day moving average price of $396.29 and a 200 day moving average price of $281.03. The firm has a market capitalization of $183.10 billion, a P/E ratio of 31.71 and a beta of 2.10.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the firm posted $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. Equities research analysts predict that Western Digital Corporation will post 9.57 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be issued a $0.15 dividend. This is an increase from Western Digital’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, June 5th. Western Digital’s payout ratio is currently 2.99%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WDC. Citigroup upped their target price on shares of Western Digital from $405.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. TD Cowen upped 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. Argus set a $300.00 target price on shares of Western Digital in a report on Tuesday, February 3rd. Zacks Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, Cantor Fitzgerald upped their target price on shares of Western Digital to $660.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and a consensus target price of $413.50.

Western Digital News Roundup

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

• Positive Sentiment: Western Digital is benefiting from broad strength across memory and storage stocks, with investors betting that AI infrastructure demand will keep pricing and demand elevated for HDDs and SSDs. Not Just Micron: Memory Melt-Up Pulls SanDisk Up 8%, Western Digital Up 10%
• Positive Sentiment: Coverage points to continued gross margin improvement, with Q3 gross margin jumping to 50.5% and Q4 guidance calling for 51%-52%, helped by higher-capacity drives, better pricing, and cost controls. Can Western Digital Deliver Continued Gross Margin Improvement?
• Positive Sentiment: The company appointed former Nvidia executive Manuvir Das to its board, reinforcing the view that Western Digital is positioning itself more directly around AI and data-center growth opportunities. WD Appoints Manuvir Das to Board of Directors
• Positive Sentiment: Recent commentary also highlighted Western Digital as underappreciated relative to peers, with hard disk drives still seen as critical to AI storage infrastructure. Western Digital Is Making the Right Moves Amid Fierce Momentum for Memory Stocks
• Neutral Sentiment: One analyst piece argued Western Digital stacks up poorly versus peers like Micron, which could temper enthusiasm even as the broader sector remains strong. Western Digital Stacks Up Poorly To Peers Like Micron, Don’t Buy Here
• Neutral Sentiment: An insider sale by Cynthia Tregillis was disclosed, but it was small and made under a pre-arranged 10b5-1 plan, so it does not appear to be a major warning sign. SEC filing

Insider Activity

In related news, insider Cynthia L. Tregillis sold 214 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $539.63, for a total value of $115,480.82. Following the completion of the sale, the insider owned 117,157 shares of the company’s stock, valued at approximately $63,221,431.91. This represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the stock in a transaction dated Thursday, May 28th. The stock was 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 of the company’s stock, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 54,405 shares of company stock worth $18,575,428. Company insiders own 0.18% of the company’s stock.

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.