Entropy Technologies LP Increases Holdings in Western Digital Corporation $WDC

Entropy Technologies LP increased its position in Western Digital Corporation (NASDAQ:WDC) by 11.4% during the 4th quarter, Holdings Channel reports. The firm owned 56,381 shares of the data storage provider’s stock after acquiring an additional 5,749 shares during the quarter. Entropy Technologies LP’s holdings in Western Digital were worth $9,713,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. raised its position in Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 407 shares in the last quarter. Avion Wealth grew its position in shares of Western Digital by 163.8% during the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after buying an additional 113 shares in the last quarter. Swiss RE Ltd. bought a new position in shares of Western Digital during the 4th quarter worth $32,000. BOKF NA grew its position in shares of Western Digital by 6,700.0% during the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider’s stock worth $33,000 after buying an additional 268 shares in the last quarter. Finally, JPL Wealth Management LLC bought a new position in shares of Western Digital during the 3rd quarter worth $33,000. 92.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the completion of the sale, the insider directly owned 85,154 shares in the company, valued at $47,366,060.96. This represents a 2.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Irving Tan sold 20,000 shares of the company’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 sale, the chief executive officer owned 598,150 shares of the company’s stock, valued at $246,342,096. This trade represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 29,322 shares of company stock valued at $12,768,550. Company insiders own 0.18% of the company’s stock.

Key Western Digital News

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

• Positive Sentiment: JPMorgan raised its price target on Western Digital from $530 to $650 and reiterated an overweight rating, signaling more upside potential for the shares. Article Title
• Positive Sentiment: The company announced a Sandisk share exchange with institutional investors, a move that has been interpreted as supportive of the stock and part of a broader capital strategy. Article Title
• Positive Sentiment: Western Digital highlighted AI-focused storage innovation at Computex, reinforcing the market’s view that it is well positioned to benefit from data-center and AI infrastructure spending. Article Title
• Positive Sentiment: Analysts also pointed to strong free cash flow, a larger dividend, and a new $4 billion buyback plan, which supports the investment case by showing confidence in cash generation and shareholder returns. Article Title
• Neutral Sentiment: Western Digital has been outperforming the broader market over the past year, and brokerages still generally rate the stock a moderate buy, which supports sentiment but is more of a confirmation than a new catalyst. Article Title
• Negative Sentiment: One recent market note said WDC slipped with the broader market after a hotter-than-expected CPI report revived rate-hike concerns, showing that macro pressure can still weigh on the stock at times. Article Title

Western Digital Price Performance

Shares of NASDAQ WDC opened at $562.92 on Friday. The stock has a market capitalization of $194.03 billion, a P/E ratio of 33.61 and a beta of 2.13. Western Digital Corporation has a 1-year low of $54.60 and a 1-year high of $602.54. The business has a fifty day moving average price of $447.23 and a 200 day moving average price of $307.91.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data 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 firm 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%.The firm’s quarterly revenue was up 45.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, equities research analysts anticipate that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be paid a dividend of $0.15 per share. This is an increase from Western Digital’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital’s dividend payout ratio (DPR) is currently 3.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. TD Cowen increased their price target on Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. UBS Group boosted their price target on shares of Western Digital from $350.00 to $375.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Wells Fargo & Company boosted their price target on shares of Western Digital from $500.00 to $575.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Finally, Morgan Stanley restated an “overweight” rating and issued a $488.00 price target on shares of Western Digital in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $443.71.

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.