Rockefeller Capital Management L.P. Increases Stock Holdings in Western Digital Corporation $WDC

Rockefeller Capital Management L.P. boosted its position in shares of Western Digital Corporation (NASDAQ:WDC) by 20.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,391 shares of the data storage provider’s stock after acquiring an additional 9,615 shares during the period. Rockefeller Capital Management L.P.’s holdings in Western Digital were worth $9,715,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDC. Rakuten Securities Inc. boosted its holdings in Western Digital by 4,070.0% in 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 during the period. Avion Wealth increased its holdings in shares of Western Digital by 163.8% in the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 113 shares during the period. Swiss RE Ltd. bought a new position in shares of Western Digital in the fourth quarter worth $32,000. BOKF NA raised its position in shares of Western Digital by 6,700.0% in the third 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 purchased a new stake in shares of Western Digital in the third quarter worth $33,000. Institutional investors own 92.51% of the company’s stock.

Western Digital Price Performance

Shares of WDC opened at $675.39 on Friday. Western Digital Corporation has a 1 year low of $62.53 and a 1 year high of $799.87. The stock has a 50 day simple moving average of $513.57 and a two-hundred day simple moving average of $342.93. The firm has a market cap of $232.79 billion, a P/E ratio of 40.32 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion for 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 business’s revenue was up 45.5% compared to the same quarter last year. During the same period last year, the firm posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities analysts anticipate that Western Digital Corporation will post 9.58 earnings per share for the current year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Friday, June 5th. This is a boost from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio is 3.58%.

Insider Buying and Selling at Western Digital

In other Western Digital news, Director Bruce E. Kiddoo sold 750 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director directly owned 3,903 shares of the company’s stock, valued at $2,062,813.56. The trade was a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 598,150 shares in the company, 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. Insiders have sold 29,322 shares of company stock worth $12,768,550 in the last 90 days. 0.18% of the stock is owned by company insiders.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Micron’s strong quarter is being treated as a read-through for the entire memory/storage group, with investors betting that AI infrastructure demand will keep Western Digital’s business environment favorable. Western Digital Stock And Seagate Get Boost From Big Micron Earnings Beat
• Positive Sentiment: Reports highlighted that AI-related memory demand is outpacing supply, which could support better pricing and margins for Western Digital if current trends continue. AI boom keeps memory chip makers in sweet spot, says expert
• Positive Sentiment: Analysts and market commentators said Micron’s results helped “justify elevated valuations” across memory names, fueling a sector-wide rally that included Western Digital. Sandisk, Western Digital, and others soar as Micron results ‘justify elevated valuations’
• Neutral Sentiment: Technical commentary noted a hammer pattern and improving earnings estimate revisions for WDC, which may be supporting bullish sentiment but is not a fundamental catalyst by itself. Here’s Why Western Digital (WDC) Is a Great ‘Buy the Bottom’ Stock Now

Analyst Upgrades and Downgrades

Several research firms have weighed in on WDC. Weiss Ratings raised Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 15th. Wall Street Zen raised Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Rosenblatt Securities upped their price objective on shares of Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $400.00 target price on shares of Western Digital in a research note on Friday, May 1st. Finally, Morgan Stanley lifted their target price on shares of Western Digital from $488.00 to $650.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $450.46.

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.