111 Capital Invests $713,000 in Western Digital Corporation $WDC

Key Points

• 111 Capital initiated a new position in Western Digital during the fourth quarter, buying 4,141 shares worth about $713,000.
• Western Digital remains heavily owned by institutions, with 92.51% of shares held by institutional investors and hedge funds, and several smaller funds also recently increased their stakes.
• Analyst sentiment is mostly positive: multiple firms raised price targets or upgraded the stock, while Western Digital also reported better-than-expected earnings and recently increased its quarterly dividend to $0.15 per share.

111 Capital bought a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,141 shares of the data storage provider's stock, valued at approximately $713,000.

Several other hedge funds have also recently made changes to their positions in the company. Rakuten Securities Inc. boosted its holdings 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 purchasing an additional 407 shares during the last quarter. Avion Wealth boosted its holdings 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 purchasing an additional 113 shares during the last quarter. BOKF NA boosted 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 valued at $33,000 after purchasing an additional 268 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in Western Digital in the third quarter valued at $33,000. Finally, Ameriflex Group Inc. boosted its holdings in Western Digital by 100.0% in the third quarter. Ameriflex Group Inc. now owns 312 shares of the data storage provider's stock valued at $37,000 after purchasing an additional 156 shares during the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Bruce E. Kiddoo sold 750 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director directly owned 3,903 shares of the company's stock, valued at $2,062,813.56. The trade was a 16.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cynthia L. Tregillis sold 432 shares of the business'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 completion of the sale, the insider directly owned 116,643 shares of the company's stock, valued at approximately $63,640,420.80. This trade represents 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 ninety days, insiders sold 29,322 shares of company stock worth $12,768,550. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WDC shares. Wedbush reissued an "outperform" rating and set a $325.00 target price on shares of Western Digital in a research note on Monday, February 9th. Citigroup upped their price target on shares of Western Digital from $500.00 to $685.00 and gave the stock a "buy" rating in a research report on Tuesday. Wall Street Zen upgraded shares of Western Digital from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Wells Fargo & Company upped their price target on shares of Western Digital from $500.00 to $575.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. Finally, Cantor Fitzgerald upped their price target on shares of Western Digital to $660.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $424.33.

Western Digital Stock Performance

NASDAQ:WDC opened at $511.72 on Friday. The stock has a market capitalization of $176.38 billion, a P/E ratio of 30.55 and a beta of 2.13. The company has a 50 day moving average price of $422.06 and a 200 day moving average price of $294.77. Western Digital Corporation has a fifty-two week low of $54.60 and a fifty-two week high of $602.54.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (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 in the prior year, the company earned $1.36 earnings per share. The business'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 forecast that Western Digital Corporation will post 9.57 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be given a $0.15 dividend. The ex-dividend date of this dividend is 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 $0.13. Western Digital's dividend payout ratio is 2.99%.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Western Digital is benefiting from strong investor enthusiasm around AI-driven storage demand, with recent articles highlighting new AI-focused storage technologies, improved analyst valuation estimates, and expectations for firmer HDD and memory pricing. Why Western Digital (WDC) Is Up 12.0% After Unveiling New AI‑Focused Storage Technologies
• Positive Sentiment: Citigroup reportedly raised its price target on Western Digital by 37%, helping push the stock to fresh highs as investors positioned ahead of the company’s Computex-related AI announcements. Western Digital (WDC) Hits All-Time High as Citi Hikes PT by 37%
• Positive Sentiment: The company has also been cleaning up its balance sheet and making more AI-related moves, which some investors view as supporting additional upside. Western Digital Could Be Halfway Through Retiring 2028 Convertible Debt. What It Means for the Stock.
• Neutral Sentiment: Western Digital’s recent earnings were strong, with the company beating estimates and issuing upbeat guidance, but the stock still saw a short-term dip as some traders appeared to take profits after a big run. Western Digital (WDC) Stock Dips 3% Despite Strong Earnings—Should Investors Buy the Pullback?
• Neutral Sentiment: Recent coverage also notes that the broader market and semiconductor stocks have been choppy, with Broadcom’s cautious AI outlook pressuring memory names like Western Digital even after the company’s strong news flow. MU, SNDK, WDC: Memory Stocks Dip As Broadcom’s Forecast Dampens AI Sentiment, Retail Turns Buyer
• Negative Sentiment: One near-term headwind is profit-taking after Western Digital’s rapid run-up to all-time highs, which has led to some price weakness despite the longer-term bullish narrative. Western Digital (WDC) Stock Dips While Market Gains: Key Facts

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.

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