Dorsey Wright & Associates Purchases Shares of 18,842 Western Digital Corporation $WDC

Dorsey Wright & Associates purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 18,842 shares of the data storage provider’s stock, valued at approximately $3,246,000.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Western Digital in the fourth quarter worth approximately $788,729,000. Northern Trust Corp lifted its position in Western Digital by 11.2% during the third quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock valued at $456,884,000 after purchasing an additional 384,103 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Western Digital by 11.8% during the third quarter. Dimensional Fund Advisors LP now owns 3,804,907 shares of the data storage provider’s stock valued at $456,737,000 after purchasing an additional 402,981 shares during the last quarter. Fred Alger Management LLC grew its stake in Western Digital by 4,923.9% in the 3rd quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock worth $409,049,000 after buying an additional 3,339,225 shares in the last quarter. Finally, Soroban Capital Partners LP grew its stake in Western Digital by 1,926.3% in the 2nd quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after buying an additional 2,910,062 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Western Digital Price Performance

Shares of NASDAQ WDC opened at $746.23 on Friday. The stock has a market capitalization of $257.21 billion, a P/E ratio of 44.55 and a beta of 2.13. Western Digital Corporation has a one year low of $58.66 and a one year high of $799.87. The firm’s 50 day simple moving average is $478.97 and its two-hundred day simple moving average is $324.21.

Western Digital (NASDAQ:WDC) last announced 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. 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 period in the previous year, the business posted $1.36 EPS. The business’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. As a group, equities analysts expect 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 was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were paid a $0.15 dividend. This is a boost from Western Digital’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Friday, June 5th. Western Digital’s payout ratio is presently 3.58%.

Western Digital News Summary

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

• Positive Sentiment: Western Digital is getting momentum-stock attention from analysts and traders who see AI-driven data-center growth supporting long-term demand for high-capacity storage. Seagate & Another AI Memory Momentum Stock With Big Upside
• Positive Sentiment: Shares are also benefiting from an industry-wide surge in memory stocks after reports that Apple flagged “unavoidable” memory price hikes, reinforcing pricing power across the sector. SanDisk Jumps 11%, Western Digital Rises 7% After Apple Flags “Unavoidable” Memory Price Hikes
• Positive Sentiment: Recent coverage continues to frame WDC as a strong momentum name, with articles suggesting more upside could remain after its recent run. Western Digital (WDC) Stock Could Close Out the Week with Major Gains
• Positive Sentiment: Analysts have been raising price targets and highlighting WDC’s strong profitability, which is adding to bullish sentiment. Morgan Stanley Raises Price Target on Western Digital (WDC). Here is Why
• Neutral Sentiment: Broader market rotation away from tech and into financials could create near-term volatility for technology stocks, including WDC. Financials Rose, Tech Fell Before Kevin Warsh Fed Debut

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WDC. Evercore reissued an “outperform” rating and issued a $575.00 price target on shares of Western Digital in a report on Tuesday, May 26th. Bank of America lifted their price objective on shares of Western Digital to $495.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Weiss Ratings upgraded shares of Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 15th. TD Cowen increased their target price on Western Digital from $325.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $450.46.

Insider Buying and Selling at Western Digital

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the sale, 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 filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the transaction, the insider directly owned 85,154 shares in the company, valued at $47,366,060.96. This trade represents a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 29,322 shares of company stock valued at $12,768,550. Company insiders own 0.18% of the company’s stock.

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.