9,073 Western Digital Corporation $WDC Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its holdings in Western Digital Corporation (NASDAQ:WDC) by 978.7% in the third quarter, Holdings Channel reports. The firm owned 10,000 shares of the data storage provider’s stock after purchasing an additional 9,073 shares during the quarter. International Assets Investment Management LLC’s holdings in Western Digital were worth $4,545,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WDC. Legal & General Group Plc bought a new stake in shares of Western Digital in the 2nd quarter valued at about $1,602,927,000. ABS Investment Management LLC acquired a new stake in Western Digital during the 2nd quarter worth approximately $1,226,342,000. Anther Capital Ltd acquired a new stake in Western Digital during the 2nd quarter worth approximately $901,601,000. Deutsche Bank AG bought a new stake in Western Digital in the 2nd quarter valued at $885,565,000. Finally, Trivest Advisors Ltd bought a new stake in Western Digital in the 2nd quarter valued at $627,606,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Key Western Digital News

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

• Positive Sentiment: Western Digital reported fiscal first-quarter 2027 revenue of $4.38 billion, non-GAAP EPS of $4.64 and free cash flow of $1.38 billion, exceeding expectations. Management also forecast approximately $5.1 billion in fiscal second-quarter revenue and $5.80 in non-GAAP EPS, signaling continued strength in AI-related data-center storage demand. Western Digital slides as strong results fail to calm spending and sector worries
• Positive Sentiment: Analyst targets remain well above the current trading level, with Quiver Quantitative citing a six-month median target of $650. Several analysts view Western Digital as a major beneficiary of AI infrastructure expansion and rising demand for high-capacity nearline hard drives. Western Digital selloff and analyst targets
• Neutral Sentiment: Western Digital and Seagate are both benefiting from AI data-center spending. However, comparisons favor Seagate on some metrics, including return on equity, valuation and free-cash-flow generation, potentially affecting investor preference within the storage group. Seagate versus Western Digital
• Negative Sentiment: Investors are questioning whether AI infrastructure spending and lofty storage-sector valuations can remain sustainable. A sharp decline in Sandisk and weakness across memory and semiconductor stocks amplified pressure on WDC, even after Sandisk delivered strong results and raised guidance. Memory-sector selloff
• Negative Sentiment: Quarterly capital spending of $227 million, continued buybacks and capacity and technology-transition needs have raised concerns about cash demands and future returns. Profit-taking after WDC’s substantial earlier advance may also be contributing to the decline. Quiver also reports 110 insider sales and no insider purchases over the past six months, an additional sentiment headwind. Western Digital spending and insider activity

Analysts Set New Price Targets

WDC has been the topic of a number of research reports. Susquehanna set a $405.00 price objective on Western Digital in a report on Friday, October 23rd. The Goldman Sachs Group set a $540.00 price objective on shares of Western Digital in a research note on Friday, October 23rd. Robert W. Baird set a $900.00 price objective on shares of Western Digital in a research note on Friday, October 23rd. Sanford C. Bernstein boosted their price objective on shares of Western Digital from $590.00 to $770.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Morgan Stanley set a $668.00 target price on shares of Western Digital and gave the stock an “overweight” rating in a research report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $591.04.

Western Digital Price Performance

Shares of WDC opened at $366.11 on Monday. Western Digital Corporation has a one year low of $132.43 and a one year high of $799.87. The company has a market cap of $137.04 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.29 and a beta of 2.27. The firm has a 50 day simple moving average of $421.46 and a two-hundred day simple moving average of $416.75.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, October 22nd. The data storage provider reported $4.64 earnings per share for the quarter, beating analysts’ consensus estimates of $4.11 by $0.53. Western Digital had a return on equity of 55.62% and a net margin of 69.20%. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the business posted $1.78 EPS. The company’s revenue was up 55.5% compared to the same quarter last year. On average, analysts expect that Western Digital Corporation will post 23.62 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, December 4th will be given a dividend of $0.1750 per share. The ex-dividend date is Friday, December 4th. This represents a $0.70 annualized dividend and a dividend yield of 0.2%. This is an increase from Western Digital’s previous quarterly dividend of $0.15. Western Digital’s dividend payout ratio is currently 2.33%.

Insider Activity at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total value of $8,899,400.00. Following the sale, the chief executive officer directly owned 575,966 shares of the company’s stock, valued at $256,287,591.02. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara Gubbi sold 1,795 shares of Western Digital stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $459.87, for a total value of $825,466.65. Following the completion of the transaction, the insider owned 80,571 shares in the company, valued at approximately $37,052,185.77. This represents a 2.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 25,436 shares of company stock valued at $11,340,064 over the last ninety days. 0.20% of the stock is owned by corporate insiders.

About Western Digital

Western Digital Corporation (NASDAQ: WDC) is a data storage technology company that develops and manufactures hard disk drives (HDDs) and related storage solutions. Its products are used in data centers, cloud infrastructure, enterprise systems, personal computers, gaming platforms and external storage devices.

The company offers HDD-based products for business and consumer applications, including high-capacity drives designed for hyperscale and cloud data centers, enterprise storage environments, network-attached storage systems and personal computing.