Keystone Investors PTE Ltd. Trims Stake in Western Digital Corporation $WDC

Keystone Investors PTE Ltd. cut its holdings in Western Digital Corporation (NASDAQ:WDC) by 31.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 197,152 shares of the data storage provider’s stock after selling 89,736 shares during the quarter. Western Digital comprises 3.1% of Keystone Investors PTE Ltd.’s portfolio, making the stock its 10th largest position. Keystone Investors PTE Ltd.’s holdings in Western Digital were worth $33,963,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WDC. Rakuten Securities Inc. boosted its stake in Western Digital by 4,070.0% in the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 407 shares during the last quarter. Avion Wealth boosted its stake in Western Digital by 163.8% in the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 113 shares during the last quarter. Swiss RE Ltd. bought a new position in Western Digital in the fourth quarter valued at approximately $32,000. BOKF NA raised its holdings in 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 purchasing an additional 268 shares during the period. Finally, JPL Wealth Management LLC acquired a new stake in Western Digital in the third quarter worth $33,000. 92.51% of the stock is owned by institutional investors.

Insider Activity at Western Digital

In related news, insider Cynthia L. Tregillis sold 432 shares of the firm’s 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 sale, the insider directly owned 116,643 shares in the company, valued at $63,640,420.80. This trade represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 firm’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 sale, the chief executive officer owned 598,150 shares in the company, valued at approximately $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 29,322 shares of company stock valued at $12,768,550. Insiders own 0.18% of the company’s stock.

Western Digital Stock Up 6.4%

Shares of NASDAQ:WDC opened at $562.92 on Friday. Western Digital Corporation has a 12 month low of $54.60 and a 12 month high of $602.54. The company’s fifty day simple moving average is $447.23 and its 200 day simple moving average is $307.91. The firm has a market cap of $194.03 billion, a price-to-earnings ratio of 33.61 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 EPS 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 business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period last year, the business posted $1.36 earnings per share. The firm’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. Research analysts expect that Western Digital Corporation will post 9.57 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, June 5th. This is a positive change 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 3.58%.

Western Digital News Summary

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

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of Western Digital from $530.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America increased their target price on shares of Western Digital to $495.00 and gave the stock a “buy” rating in a report on Monday, April 27th. UBS Group increased their target price on shares of Western Digital from $350.00 to $375.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Rosenblatt Securities increased their target price on shares of Western Digital from $340.00 to $500.00 and gave the stock a “buy” 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $443.71.

Western Digital Company 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.