1,953 Shares in Western Digital Corporation $WDC Bought by Fullerton Fund Management Co Ltd.

Key Points

• Fullerton Fund Management opened a new position in Western Digital, buying 1,953 shares worth about $336,000 in the fourth quarter.
• Institutional ownership remains very high, with 92.51% of Western Digital’s stock held by institutional investors, while several large funds recently added significant stakes.
• Analysts are broadly bullish on WDC, with multiple price target increases and a consensus rating of “Moderate Buy”; the company also posted strong quarterly results, including EPS and revenue that beat estimates.

Fullerton Fund Management Co Ltd. acquired a new position in Western Digital Corporation (NASDAQ:WDC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,953 shares of the data storage provider's stock, valued at approximately $336,000.

A number of other hedge funds also recently bought and sold shares of WDC. Norges Bank bought a new stake in Western Digital during the fourth quarter valued at about $788,729,000. Fred Alger Management LLC boosted its holdings in Western Digital by 4,923.9% during the third quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider's stock valued at $409,049,000 after acquiring an additional 3,339,225 shares during the period. Soroban Capital Partners LP boosted its holdings in Western Digital by 1,926.3% during the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider's stock valued at $195,882,000 after acquiring an additional 2,910,062 shares during the period. Polar Capital Holdings Plc bought a new stake in Western Digital during the third quarter valued at about $221,800,000. Finally, National Pension Service boosted its holdings in Western Digital by 267.6% during the fourth quarter. National Pension Service now owns 1,691,659 shares of the data storage provider's stock valued at $291,422,000 after acquiring an additional 1,231,477 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WDC shares. Evercore restated an "outperform" rating and set a $575.00 price target on shares of Western Digital in a report on Tuesday, May 26th. Robert W. Baird upped their price target on shares of Western Digital from $310.00 to $450.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Weiss Ratings upgraded shares of Western Digital from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 15th. Barclays upped their price target on shares of Western Digital from $450.00 to $620.00 and gave the company an "overweight" rating in a report on Wednesday, May 27th. Finally, Cantor Fitzgerald upped their price target on shares of Western Digital to $660.00 and gave the company an "overweight" rating in a report on Friday, May 1st. One 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $450.46.

Western Digital News Roundup

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

• Positive Sentiment: Morgan Stanley raised its outlook on Western Digital and boosted its price target, adding to the bullish case that AI data-center growth is driving stronger-than-expected storage demand. Western Digital Stock Just Hit a New All-Time High. Here's Why.
• Positive Sentiment: Multiple reports say WDC is benefiting from a broader re-rating of AI storage stocks, with investors focused on tight hard-disk supply, sold-out inventory, and higher pricing power. Western Digital stock jumps as AI trade reignites
• Positive Sentiment: Media coverage highlighted a hyperscaler multiyear commitment to Western Digital, reinforcing confidence that demand from large cloud customers remains robust. Hyperscaler’s Multiyear Commitment with Western Digital (WDC) Highlights Robust Demand
• Neutral Sentiment: Investors are also watching June 22 for the planned SanDisk-related swap, which could create another event-driven trading catalyst for WDC. Dear Western Digital Stock Fans, Mark Your Calendars for June 22
• Negative Sentiment: One commentary piece argued the stock may be due for a near-term pullback after its huge run-up this year, suggesting valuation and momentum risks could cap gains in the short term. Western Digital stock looks ripe for a near-term pullback: find out more

Western Digital Stock Up 4.2%

NASDAQ:WDC opened at $681.08 on Wednesday. Western Digital Corporation has a 12-month low of $57.88 and a 12-month high of $729.92. The firm has a market capitalization of $234.75 billion, a PE ratio of 40.66 and a beta of 2.13. The firm has a 50-day moving average price of $462.12 and a 200 day moving average price of $316.21.

Western Digital (NASDAQ:WDC - Get Free Report) last posted 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 firm 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 business 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. On average, research analysts expect that Western Digital Corporation will post 9.6 EPS for the current year.

Western Digital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 5th. This is a positive change from Western Digital's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Western Digital's dividend payout ratio (DPR) is 3.58%.

Insider Activity

In other news, CEO Irving Tan sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the sale, the chief executive officer owned 598,150 shares of the company's stock, valued at approximately $246,342,096. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the sale, the director directly owned 3,903 shares of the company's stock, valued at approximately $2,062,813.56. The trade was a 16.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 29,322 shares of company stock worth $12,768,550. Corporate insiders own 0.18% of the company's stock.

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.

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