Blue Capital Inc. Purchases New Stake in Western Digital Corporation $WDC

Blue Capital Inc. purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,765 shares of the data storage provider’s stock, valued at approximately $649,000.

Several other institutional investors also recently bought and sold shares of WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Western Digital by 7.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after acquiring an additional 3,019 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Western Digital by 229.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after purchasing an additional 967 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Western Digital in the second quarter valued at about $307,000. Cresset Asset Management LLC purchased a new position in Western Digital in the second quarter valued at about $292,000. Finally, Federated Hermes Inc. lifted its stake in shares of Western Digital by 55.3% during the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock worth $152,000 after purchasing an additional 845 shares in the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 transaction of $235,699.20. Following the completion of the transaction, the insider directly owned 116,643 shares in the company, valued at approximately $63,640,420.80. This represents a 0.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the sale, the insider directly owned 85,154 shares of the company’s stock, valued at $47,366,060.96. The trade was a 2.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,322 shares of company stock valued at $12,768,550 over the last 90 days. 0.18% of the stock is owned by company insiders.

Western Digital Price Performance

Shares of Western Digital stock opened at $746.23 on Friday. The business has a 50-day moving average of $478.97 and a 200-day moving average of $324.21. The company has a market capitalization of $257.21 billion, a PE ratio of 44.55 and a beta of 2.13. Western Digital Corporation has a 1-year low of $58.66 and a 1-year high of $799.87.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period in the previous year, the company earned $1.36 earnings per share. The company’s revenue for the quarter 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. On average, equities analysts expect that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, June 5th. This represents a $0.60 annualized dividend and a yield of 0.1%. This is a boost from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio (DPR) is presently 3.58%.

Analyst Ratings Changes

WDC has been the subject of several analyst reports. Wall Street Zen raised Western Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings upgraded Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 15th. The Goldman Sachs Group reissued a “neutral” rating and set a $400.00 price target on shares of Western Digital in a research report on Friday, May 1st. Barclays upped their price target on Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Finally, TD Cowen increased their price objective on shares of Western Digital from $325.00 to $500.00 and gave the company a “buy” rating 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 issued a Hold rating to the company’s stock. According to MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and a consensus price target of $450.46.

Key Western Digital News

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

• Positive Sentiment: Western Digital is getting momentum-stock attention from analysts and traders who see AI-driven data-center growth supporting long-term demand for high-capacity storage. Seagate & Another AI Memory Momentum Stock With Big Upside
• Positive Sentiment: Shares are also benefiting from an industry-wide surge in memory stocks after reports that Apple flagged “unavoidable” memory price hikes, reinforcing pricing power across the sector. SanDisk Jumps 11%, Western Digital Rises 7% After Apple Flags “Unavoidable” Memory Price Hikes
• Positive Sentiment: Recent coverage continues to frame WDC as a strong momentum name, with articles suggesting more upside could remain after its recent run. Western Digital (WDC) Stock Could Close Out the Week with Major Gains
• Positive Sentiment: Analysts have been raising price targets and highlighting WDC’s strong profitability, which is adding to bullish sentiment. Morgan Stanley Raises Price Target on Western Digital (WDC). Here is Why
• Neutral Sentiment: Broader market rotation away from tech and into financials could create near-term volatility for technology stocks, including WDC. Financials Rose, Tech Fell Before Kevin Warsh Fed Debut

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.