Amanah Holdings Trust Takes $54.27 Million Position in Western Digital Corporation $WDC

Amanah Holdings Trust bought a new position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 315,000 shares of the data storage provider's stock, valued at approximately $54,265,000. Western Digital accounts for about 7.9% of Amanah Holdings Trust's investment portfolio, making the stock its 4th biggest position. Amanah Holdings Trust owned 0.09% of Western Digital at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Rakuten Securities Inc. increased its holdings in Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock worth $27,000 after purchasing an additional 407 shares in the last quarter. Avion Wealth grew its holdings in Western Digital by 163.8% during the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider's stock worth $31,000 after buying an additional 113 shares in the last quarter. Swiss RE Ltd. bought a new stake in Western Digital during the fourth quarter worth $32,000. BOKF NA raised its position in Western Digital by 6,700.0% in the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider's stock valued at $33,000 after buying an additional 268 shares during the last quarter. Finally, JPL Wealth Management LLC purchased a new stake in Western Digital in the 3rd quarter valued at $33,000. 92.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on WDC. Jefferies Financial Group set a $575.00 price objective on shares of Western Digital in a report on Tuesday, May 26th. Rosenblatt Securities increased their target price on shares of Western Digital from $340.00 to $500.00 and gave the company a "buy" rating in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Western Digital from $530.00 to $650.00 and gave the company an "overweight" rating in a research report on Friday, June 12th. Barclays boosted their price target on shares of Western Digital from $450.00 to $620.00 and gave the stock an "overweight" rating in a report on Wednesday, May 27th. Finally, Citigroup upped their price objective on shares of Western Digital from $500.00 to $685.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $450.46.

Western Digital Stock Performance

Shares of NASDAQ:WDC opened at $746.23 on Friday. The company's 50-day moving average is $478.97 and its 200 day moving average is $324.21. The company has a market capitalization of $257.21 billion, a P/E ratio of 44.55 and a beta of 2.13. Western Digital Corporation has a fifty-two week low of $58.66 and a fifty-two week high of $799.87.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings data 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 net margin of 55.29% and a return on equity of 42.95%. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter last year, the company posted $1.36 earnings per share. The firm'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. As a group, research analysts predict that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

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

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

Insider Transactions at Western Digital

In other Western Digital news, Director Bruce E. Kiddoo sold 750 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was 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. This trade represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Cynthia L. Tregillis sold 432 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $545.60, for a total value of $235,699.20. Following the completion of the sale, the insider owned 116,643 shares in the company, valued at $63,640,420.80. This represents a 0.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 29,322 shares of company stock valued at $12,768,550 in the last three months. 0.18% of the stock is currently owned by company insiders.

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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