Western Digital Corporation $WDC Shares Sold by Patton Fund Management Inc.

Patton Fund Management Inc. reduced its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 63.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,953 shares of the data storage provider’s stock after selling 18,875 shares during the quarter. Patton Fund Management Inc.’s holdings in Western Digital were worth $2,963,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WDC. AustralianSuper Pty Ltd acquired a new position in shares of Western Digital in the 3rd quarter worth approximately $34,244,000. Cantor Fitzgerald L. P. raised its position in shares of Western Digital by 399.8% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider’s stock valued at $3,900,000 after acquiring an additional 25,987 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its stake in Western Digital by 75.4% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider’s stock worth $1,778,000 after purchasing an additional 4,068 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Western Digital during the fourth quarter worth $2,270,000. Finally, WESPAC Advisors LLC acquired a new position in Western Digital in the fourth quarter worth $793,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Stock Performance

WDC stock opened at $586.45 on Monday. The stock has a market capitalization of $202.14 billion, a price-to-earnings ratio of 35.01 and a beta of 2.13. Western Digital Corporation has a 1 year low of $62.65 and a 1 year high of $799.87. The stock’s fifty day moving average is $518.00 and its two-hundred day moving average is $345.86.

Western Digital (NASDAQ:WDC) last released 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 during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the firm earned $1.36 earnings per share. The company’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, analysts predict that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

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

Insider Activity

In other news, insider Vidyadhara K. Gubbi sold 4,674 shares of the business’s 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 completion of the transaction, the insider directly owned 90,041 shares in the company, valued at approximately $39,905,270.79. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $411.84, for a total value of $8,236,800.00. Following the completion of the transaction, the chief executive officer directly owned 598,150 shares of the company’s stock, 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 a total of 29,322 shares of company stock worth $12,768,550 in the last quarter. Company insiders own 0.18% of the company’s stock.

Key Headlines Impacting Western Digital

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

• Positive Sentiment: Micron’s strong quarterly results reinforced the AI-driven memory shortage theme, which has lifted Western Digital along with other memory stocks. Western Digital Stock And Seagate Get Boost From Big Micron Earnings Beat
• Positive Sentiment: Analysts and commentators continue to highlight strong AI memory demand, rising estimate revisions, and favorable supply-demand dynamics for WDC. Micron’s Robust Q3 Results Raise Investor Attention on These 3 Stocks
• Neutral Sentiment: Reports of SK Hynix planning a Nasdaq listing on July 10 add more attention to the broader memory ecosystem, but the direct impact on WDC is unclear. Is the Roundhill Memory ETF (DRAM) a Buy Before July 10?
• Negative Sentiment: After the sector’s big rally, memory and semiconductor stocks are pulling back as investors take profits and worry that memory and storage costs may have gotten ahead of fundamentals. MU, SNDK, WDC: 3 Key Reasons Why Memory Stocks Are Falling Today
• Negative Sentiment: Broader tech-sector weakness is weighing on WDC alongside other chip names, adding to the selloff in the group. Semiconductor stocks retreat over worries about memory costs

Analysts Set New Price Targets

Several research firms have weighed in on WDC. Jefferies Financial Group set a $575.00 target price on shares of Western Digital in a research note on Tuesday, May 26th. Bank of America raised their price target on shares of Western Digital to $495.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Fox Advisors downgraded shares of Western Digital from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Wells Fargo & Company boosted their price objective on shares of Western Digital from $500.00 to $575.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Citigroup raised their target price on shares of Western Digital from $500.00 to $685.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $450.46.

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.