ABC Arbitrage SA Makes New Investment in Western Digital Corporation $WDC

ABC Arbitrage SA purchased a new position in Western Digital Corporation (NASDAQ:WDC - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 5,722 shares of the data storage provider's stock, valued at approximately $1,548,000.

Several other institutional investors and hedge funds have also made changes to their positions in WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 purchasing an additional 3,019 shares during the period. Geneos Wealth Management Inc. lifted 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 acquiring an additional 967 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Western Digital in the 2nd quarter valued at about $307,000. Cresset Asset Management LLC bought a new position in shares of Western Digital during the 2nd quarter valued at about $292,000. Finally, Federated Hermes Inc. boosted its position in shares of Western Digital by 55.3% during the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider's stock valued at $152,000 after purchasing an additional 845 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors.

Western Digital Price Performance

NASDAQ WDC opened at $555.55 on Tuesday. The firm has a market capitalization of $191.49 billion, a price-to-earnings ratio of 33.17 and a beta of 2.11. The company has a 50 day simple moving average of $558.32 and a 200-day simple moving average of $376.88. Western Digital Corporation has a 52-week low of $65.24 and a 52-week high of $799.87.

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 for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $3.25 billion. During the same period in the prior year, the business posted $1.36 earnings per share. Western Digital'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, analysts predict that Western Digital Corporation will post 9.6 EPS for the current year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were issued a $0.15 dividend. This is a boost from Western Digital's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Friday, June 5th. Western Digital's dividend payout ratio is currently 3.58%.

Key Headlines Impacting Western Digital

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

• Negative Sentiment: WDC slid in sympathy with the memory-chip sector after SK Hynix’s steep decline reignited concerns about valuations and near-term earnings in AI-related memory stocks. Western Digital Stock Drops: Why an Aggressive SK Hynix Reversal Is Shaking Up the Chip Sector
• Negative Sentiment: The broader group also weakened after reports that SK Hynix’s weak profit forecast and post-IPO reversal triggered selling across chip and storage names, including Western Digital. Micron, SanDisk, Western Digital Fall 6% as SK Hynix's Weak Outlook Rattles Memory Stocks
• Negative Sentiment: Another report said WDC was down in pre-market trading as investors dumped memory-chip stocks amid sector-wide weakness and rising geopolitical tension. Why Is Western Digital Stock (WDC) Falling in Pre-Market Today, 7/13/26?
• Negative Sentiment: Market commentary also noted that global chip stocks were under pressure as investors reconsidered the sustainability of aggressive AI spending and related valuations. Intel, AMD, Sandisk, and More Stocks That Explain Today’s Market
• Neutral Sentiment: Western Digital also announced it will report fourth-quarter and fiscal 2026 results on August 5, which keeps investor attention focused on upcoming earnings but does not by itself change the near-term trading setup. WD to Announce Fourth Quarter and Fiscal Year 2026 Financial Results on August 5, 2026
• Positive Sentiment: Despite the selloff, some analysts remain constructive, citing strong demand and tight HDD supply as reasons Western Digital could still have upside if fundamentals hold. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here

Analyst Ratings Changes

Several research firms have issued reports on WDC. Wall Street Zen raised Western Digital from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Robert W. Baird raised their price objective on Western Digital from $310.00 to $450.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. Rosenblatt Securities lifted their target price on Western Digital from $340.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Zacks Research raised Western Digital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 6th. Finally, Sanford C. Bernstein upgraded Western Digital from a "market perform" rating to an "outperform" rating and set a $340.00 price target for the company in a research report on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Western Digital presently has an average rating of "Moderate Buy" and a consensus price target of $520.32.

Insider Buying and Selling at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 4,674 shares of the 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 transaction, the insider owned 90,041 shares in the company, valued at $39,905,270.79. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Cynthia L. Tregillis sold 432 shares of Western Digital stock in a transaction that occurred 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 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 disclosure for this sale is available in the SEC filing. 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 valued at $12,768,550. Corporate insiders own 0.18% of the company's stock.

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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