III Capital Management Decreases Stock Holdings in Western Digital Corporation $WDC

III Capital Management trimmed its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 55.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,506 shares of the data storage provider’s stock after selling 23,207 shares during the period. Western Digital makes up 0.5% of III Capital Management’s investment portfolio, making the stock its 23rd largest holding. III Capital Management’s holdings in Western Digital were worth $3,188,000 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. raised its holdings in shares of 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 purchasing an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Western Digital by 229.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after purchasing an additional 967 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Western Digital during the second quarter valued at approximately $307,000. Cresset Asset Management LLC purchased a new stake in Western Digital during the second quarter valued at approximately $292,000. Finally, Federated Hermes Inc. increased its holdings in Western Digital by 55.3% during the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after buying an additional 845 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Price Performance

WDC opened at $712.13 on Thursday. The firm has a market cap of $245.46 billion, a P/E ratio of 42.52 and a beta of 2.13. Western Digital Corporation has a 1-year low of $58.53 and a 1-year high of $741.85. The company has a 50 day simple moving average of $470.28 and a two-hundred day simple moving average of $320.11.

Western Digital (NASDAQ:WDC) last posted 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 business had revenue of $3.34 billion during the quarter, compared to analyst estimates 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 was up 45.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities analysts anticipate that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were given a $0.15 dividend. The ex-dividend date was Friday, June 5th. 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%. Western Digital’s dividend payout ratio (DPR) is currently 3.58%.

Trending Headlines about Western Digital

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

• Positive Sentiment: Morgan Stanley boosted its outlook on Western Digital, lifting its price target and reinforcing a bullish view on HDD demand and the company’s HAMR roadmap, which helped push the shares to new highs. Western Digital Stock Just Hit a New All-Time High. Here’s Why.
• Positive Sentiment: Several articles point to surging AI infrastructure spending and cloud storage demand as the main catalyst, with Western Digital increasingly viewed as a beneficiary of the AI trade. Western Digital stock jumps as AI trade reignites
• Positive Sentiment: Recent coverage says earnings are nearly doubling on AI and cloud demand, while estimates continue to move higher, supporting momentum-trader interest in WDC. Western Digital (WDC) Moves 4.2% Higher: Will This Strength Last?
• Neutral Sentiment: Investors are also watching the June 22 SanDisk-related catalyst, which could influence sentiment but is not yet a confirmed financial event. Dear Western Digital Stock Fans, Mark Your Calendars for June 22
• Negative Sentiment: Some commentary warns the rally may have run ahead of fundamentals and could be due for a near-term pullback after the stock’s massive year-to-date run. Western Digital stock looks ripe for a near-term pullback: find out more

Insider Activity

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $411.84, for a total value of $8,236,800.00. Following the completion of the transaction, the chief executive officer directly owned 598,150 shares in the company, valued at $246,342,096. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. The trade was a 16.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 29,322 shares of company stock valued at $12,768,550. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

WDC has been the subject of a number of research reports. Barclays upped their target price on shares of Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Weiss Ratings raised shares of Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 15th. Mizuho upped their target price on shares of Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a report on Monday, June 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $400.00 target price on shares of Western Digital in a report on Friday, May 1st. Finally, Cantor Fitzgerald upped their target price on shares of Western Digital to $660.00 and gave the company 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 assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and an average target price of $450.46.

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.