OP Asset Management Ltd Makes New $9.51 Million Investment in Western Digital Corporation $WDC

OP Asset Management Ltd acquired a new stake in Western Digital Corporation (NASDAQ:WDC) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 35,173 shares of the data storage provider’s stock, valued at approximately $9,514,000.

A number of other institutional investors have also modified their holdings of WDC. Rakuten Securities Inc. grew its position 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 in the last quarter. Avion Wealth lifted its position in shares of Western Digital by 163.8% during 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 in the last quarter. Swiss RE Ltd. acquired a new position in shares of Western Digital during the fourth quarter worth $32,000. BOKF NA boosted its stake 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 valued at $33,000 after purchasing an additional 268 shares during the period. Finally, JPL Wealth Management LLC acquired a new stake in Western Digital during the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other news, insider Vidyadhara K. Gubbi sold 4,674 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the sale, the insider directly owned 90,041 shares in the company, valued at approximately $39,905,270.79. This represents a 4.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $545.60, for a total value of $235,699.20. Following the sale, the insider owned 116,643 shares in the company, valued at $63,640,420.80. The trade was a 0.37% decrease in their ownership of the stock. 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. Over the last three months, insiders sold 29,322 shares of company stock worth $12,768,550. Insiders own 0.18% of the company’s stock.

Western Digital Stock Performance

WDC opened at $675.39 on Friday. The company has a market capitalization of $232.79 billion, a P/E ratio of 40.32 and a beta of 2.13. The company has a 50-day moving average of $513.57 and a 200-day moving average of $342.93. Western Digital Corporation has a 1-year low of $62.53 and a 1-year high of $799.87.

Western Digital (NASDAQ:WDC) last issued 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. 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 analysts’ expectations of $3.25 billion. During the same quarter last year, the company posted $1.36 earnings per share. The company’s quarterly revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, sell-side analysts expect that Western Digital Corporation will post 9.58 earnings per share for the current fiscal year.

Western Digital Increases Dividend

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

Key Headlines 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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Evercore reiterated an “outperform” rating and issued a $575.00 price objective on shares of Western Digital in a report on Tuesday, May 26th. UBS Group raised their target price on Western Digital from $350.00 to $375.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Rosenblatt Securities lifted their target price on Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Bank of America boosted their price target on Western Digital to $495.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, Cantor Fitzgerald raised their price objective on Western Digital to $660.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.