Western Digital Corporation $WDC Shares Sold by BNP Paribas

BNP Paribas reduced its stake in Western Digital Corporation (NASDAQ:WDC) by 22.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,836 shares of the data storage provider’s stock after selling 2,487 shares during the quarter. BNP Paribas’ holdings in Western Digital were worth $1,522,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. a16z Perennial Management L.P. grew its holdings in shares of Western Digital by 8.5% during the fourth quarter. a16z Perennial Management L.P. now owns 2,011 shares of the data storage provider’s stock worth $346,000 after buying an additional 157 shares in the last quarter. New Mexico Educational Retirement Board boosted its position in Western Digital by 3.8% during the fourth quarter. New Mexico Educational Retirement Board now owns 16,314 shares of the data storage provider’s stock worth $2,810,000 after acquiring an additional 600 shares during the last quarter. Ellevest Inc. purchased a new stake in Western Digital in the 4th quarter worth approximately $208,000. Black Swift Group LLC acquired a new position in Western Digital in the 4th quarter valued at $2,153,000. Finally, Florida Financial Advisors LLC acquired a new stake in shares of Western Digital during the fourth quarter worth $1,695,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Trading Up 3.1%

NASDAQ:WDC opened at $563.10 on Wednesday. The firm’s fifty day simple moving average is $400.87 and its 200 day simple moving average is $284.43. Western Digital Corporation has a twelve month low of $51.88 and a twelve month high of $571.18. The firm has a market capitalization of $194.09 billion, a price-to-earnings ratio of 33.62 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.39 by $0.33. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm’s revenue was up 45.5% compared to the same quarter last year. During the same period last year, the company posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, analysts predict that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be given a dividend of $0.15 per share. This is a boost from Western Digital’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.60 annualized dividend and a yield of 0.1%. Western Digital’s dividend payout ratio is presently 2.99%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Truist Financial set a $310.00 target price on Western Digital in a research note on Tuesday, February 3rd. The Goldman Sachs Group restated a “neutral” rating and issued a $400.00 target price on shares of Western Digital in a report on Friday, May 1st. Bank of America boosted their price objective on shares of Western Digital to $495.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Cantor Fitzgerald increased their target price on Western Digital to $660.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, Mizuho set a $470.00 price target on Western Digital in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $424.33.

Insider Buying and Selling

In other news, insider Cynthia L. Tregillis sold 363 shares of the business’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $377.09, for a total transaction of $136,883.67. Following the transaction, the insider directly owned 120,023 shares of the company’s stock, valued at approximately $45,259,473.07. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the transaction, the chief executive officer owned 598,150 shares in the company, valued at $246,342,096. This represents a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 37,408 shares of company stock worth $14,707,666 in the last 90 days. 0.18% of the stock is owned by insiders.

Western Digital News Roundup

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

• Positive Sentiment: Multiple articles highlighted Western Digital as a beneficiary of the AI storage supercycle, with demand for cloud computing, AI, IoT, and enterprise data storage expected to support continued growth. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
• Positive Sentiment: Western Digital also drew attention for its Computex 2026 messaging that AI infrastructure is fundamentally a data system, reinforcing the company’s role in AI-driven storage demand. WD at Computex 2026: AI Doesn’t Just Run on Compute – It Runs on Data
• Positive Sentiment: Investors also reacted to Evercore ISI raising its price target on Western Digital to $575 from $410 while keeping an Outperform rating, signaling higher Wall Street confidence. Here’s What Evercore Now Says About Western Digital Corp (WDC) Stock
• Positive Sentiment: Several commentary pieces argued that the AI storage trade still has room to run, helping keep momentum in the stock and the broader memory/storage group. Western Digital: The AI Storage Trade Still Has Room To Run
• Neutral Sentiment: Western Digital presented at the Bank of America 2026 Global Technology Conference, which likely kept the company in focus but did not include a clear new catalyst in the headline. Western Digital Corporation (WDC) Presents at Bank of America 2026 Global Technology Conference Transcript
• Negative Sentiment: An insider sale by Vidyadhara K. Gubbi was disclosed, which can slightly temper enthusiasm even though the sale was small relative to the insider’s remaining stake. SEC filing for insider sale

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.