Landscape Capital Management L.L.C. Sells 38,058 Shares of Western Digital Corporation $WDC

Landscape Capital Management L.L.C. lessened its position in shares of Western Digital Corporation (NASDAQ:WDC) by 53.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,031 shares of the data storage provider’s stock after selling 38,058 shares during the period. Landscape Capital Management L.L.C.’s holdings in Western Digital were worth $5,690,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AustralianSuper Pty Ltd bought a new stake in shares of Western Digital during the 3rd quarter worth approximately $34,244,000. Cantor Fitzgerald L. P. lifted its holdings in shares of Western Digital by 399.8% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider’s stock worth $3,900,000 after acquiring an additional 25,987 shares during the period. NorthCrest Asset Manangement LLC lifted its holdings in shares of Western Digital by 75.4% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider’s stock worth $1,778,000 after acquiring an additional 4,068 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in shares of Western Digital during the 4th quarter worth approximately $2,270,000. Finally, WESPAC Advisors LLC acquired a new position in Western Digital during the 4th quarter worth approximately $793,000. Institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other news, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the completion of the sale, the insider directly owned 116,643 shares in the company, valued at $63,640,420.80. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the sale, the director 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 29,322 shares of company stock worth $12,768,550 over the last ninety days. Insiders own 0.18% of the company’s stock.

Western Digital Stock Performance

WDC stock opened at $562.92 on Friday. The company has a fifty day moving average price of $447.23 and a 200-day moving average price of $307.91. The company 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 52-week low of $54.60 and a 52-week high of $602.54.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company’s revenue for the quarter was up 45.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, sell-side analysts forecast that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

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

Key Stories Impacting Western Digital

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

Analyst Ratings Changes

A number of research firms recently issued reports on WDC. Cantor Fitzgerald upped their price objective on shares of Western Digital to $660.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. 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 research report on Wednesday, May 27th. Weiss Ratings raised Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 15th. Sanford C. Bernstein upgraded Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price objective on the stock in a research report on Tuesday, March 31st. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $400.00 price objective on shares of Western Digital in a research 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $443.71.

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.