AMF Tjanstepension AB Decreases Stock Holdings in Western Digital Corporation $WDC

Key Points

• AMF Tjanstepension AB trimmed its Western Digital stake by 2.5% in the fourth quarter, selling 44,505 shares and leaving it with 1,767,959 shares worth about $304.6 million.
• Western Digital reported strong quarterly results, beating estimates with EPS of $2.72 and revenue of $3.34 billion, both helped by 45.5% year-over-year revenue growth. The company also gave Q4 2026 EPS guidance of $3.10 to $3.40.
• The company raised its quarterly dividend to $0.15 per share from $0.13, while analysts remain constructive overall with a “Moderate Buy” consensus and an average price target of $395.83.

AMF Tjanstepension AB decreased its position in Western Digital Corporation (NASDAQ:WDC - Free Report) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,767,959 shares of the data storage provider's stock after selling 44,505 shares during the quarter. Western Digital makes up 1.9% of AMF Tjanstepension AB's investment portfolio, making the stock its 16th largest position. AMF Tjanstepension AB owned 0.52% of Western Digital worth $304,566,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of WDC. Rakuten Securities Inc. boosted its stake in shares of Western Digital by 4,070.0% during the 2nd 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 in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Western Digital by 551.4% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider's stock valued at $29,000 after purchasing an additional 204 shares in the last quarter. Westfuller Advisors LLC bought a new stake in shares of Western Digital during the 3rd quarter valued at about $30,000. Avion Wealth boosted its stake in shares of Western Digital by 163.8% during the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider's stock valued at $31,000 after purchasing an additional 113 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Western Digital by 207.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the data storage provider's stock valued at $32,000 after purchasing an additional 178 shares in the last quarter. Institutional investors own 92.51% of the company's stock.

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $458.68 on Tuesday. The firm's 50 day moving average price is $356.14 and its 200-day moving average price is $260.04. The company has a market cap of $158.10 billion, a PE ratio of 27.38 and a beta of 2.10. Western Digital Corporation has a 52-week low of $49.00 and a 52-week high of $525.15.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its 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. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business's revenue was up 45.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, analysts forecast that Western Digital Corporation will post 9.57 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be paid a $0.15 dividend. This is a boost from Western Digital's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Friday, June 5th. Western Digital's payout ratio is currently 2.99%.

Trending Headlines about Western Digital

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

• Positive Sentiment: Western Digital unveiled post-quantum cryptography-enabled Ultrastar UltraSMR hard drives, highlighting its push into next-generation, AI-era infrastructure security and potentially expanding enterprise demand. WD Advances Next-Generation Trusted Infrastructure with Industry’s First Post-Quantum Cryptography Hard Drives to Help Secure the Future of AI Data
• Positive Sentiment: Reports about AI storage demand suggest Western Digital and Seagate are benefiting from tighter supply and better pricing power in mass-capacity drives, which is supportive for revenue and margins. Seagate and Western Digital: AI Storage Demand Is Now Showing Up in Pricing Power
• Positive Sentiment: Broader coverage of the AI memory/storage boom is drawing investor attention to Western Digital as one of the names positioned to benefit from infrastructure spending. Memory Chip Stocks to Watch: Micron (MU), SK Hynix, and Western Digital Lead AI Boom
• Neutral Sentiment: Analyst sentiment remains constructive, with Western Digital receiving a “Moderate Buy” consensus rating, but this is a supportive backdrop rather than a fresh catalyst. Western Digital Corporation NASDAQ: WDC Receives Consensus Recommendation of "Moderate Buy" from Analysts
• Neutral Sentiment: Other articles on Micron and SanDisk largely reinforce the same industry theme: AI demand is improving the outlook for memory and storage suppliers, but they do not appear to be direct company-specific catalysts for Western Digital. Why Did Micron Stock Drop Today? Why Did Sandisk Stock Drop Today?

Insider Transactions at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of the company'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 value of $8,236,800.00. Following the transaction, the chief executive officer owned 598,150 shares in the company, valued at approximately $246,342,096. This represents a 3.24% decrease in their ownership of the stock. The sale 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, insider Cynthia L. Tregillis sold 9,324 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $268.27, for a total transaction of $2,501,349.48. Following the completion of the transaction, the insider owned 121,682 shares in the company, valued at approximately $32,643,630.14. This represents a 7.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 53,679 shares of company stock worth $18,049,314. Corporate insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WDC shares. Mizuho set a $470.00 target price on shares of Western Digital in a research note on Friday, May 1st. Barclays lifted their target price on shares of Western Digital from $405.00 to $450.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. New Street Research set a $250.00 target price on shares of Western Digital in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Western Digital from $320.00 to $400.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $400.00 price objective on shares of Western Digital in a research note on Friday, May 1st. One equities research 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 stock. Based on data from MarketBeat, Western Digital presently has an average rating of "Moderate Buy" and an average price target of $395.83.

Western Digital 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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