Andra AP fonden Cuts Stock Position in Western Digital Corporation $WDC

Key Points

• Andra AP fonden reduced its Western Digital stake by 5.5% in the fourth quarter, selling 15,246 shares and ending with 260,400 shares valued at about $44.9 million.
• Insider selling has continued, including recent sales by Cynthia L. Tregillis and Bruce E. Kiddoo, with insiders selling 29,322 shares worth $12.8 million over the last 90 days.
• Western Digital remains supported by bullish analyst sentiment and strong operating results, including an earnings beat, revenue growth of 45.5% year over year, and a recently raised quarterly dividend.

Andra AP fonden lowered its stake in Western Digital Corporation (NASDAQ:WDC - Free Report) by 5.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 260,400 shares of the data storage provider's stock after selling 15,246 shares during the period. Andra AP fonden owned 0.08% of Western Digital worth $44,859,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rakuten Securities Inc. grew its stake in shares of Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock worth $27,000 after buying an additional 407 shares during the last quarter. Avion Wealth grew its stake in shares of Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider's stock worth $31,000 after buying an additional 113 shares during the last quarter. BOKF NA lifted 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 acquiring an additional 268 shares in the last quarter. JPL Wealth Management LLC bought a new position in Western Digital in the 3rd quarter valued at approximately $33,000. Finally, Ameriflex Group Inc. lifted its position in Western Digital by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 312 shares of the data storage provider's stock valued at $37,000 after acquiring an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company's stock.

Insider Transactions at Western Digital

In other news, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $545.60, for a total transaction of $235,699.20. Following the transaction, the insider directly owned 116,643 shares of the company's stock, valued at $63,640,420.80. This represents a 0.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 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 transaction, the director directly owned 3,903 shares in the company, valued at approximately $2,062,813.56. This represents a 16.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,322 shares of company stock valued at $12,768,550 over the last 90 days. 0.18% of the stock is owned by corporate insiders.

More Western Digital News

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

• Positive Sentiment: Western Digital and related memory stocks rebounded as investors rotated back into the group following SK Hynix’s capacity plan, which helped sentiment across the storage space. SanDisk Jumps 14%, Western Digital Climbs 6% as Memory Stocks Rebound on SK Hynix’s Capacity Plan
• Positive Sentiment: Analysts remain constructive on WDC, with recent price target increases from Mizuho and Citi reinforcing expectations for continued AI-driven storage demand and stronger earnings estimates. Mizuho and Citi Raise Western Digital (WDC) Price Targets
• Positive Sentiment: Western Digital’s stock has also benefited from ongoing investor optimism around AI storage demand, pricing gains, and its more focused HDD-centric business mix. Western Digital Stock Skyrockets 185% YTD: Is More Growth on the Horizon?
• Neutral Sentiment: Western Digital announced a privately negotiated share exchange involving SanDisk investors, which may affect the company’s capital structure but is not clearly a direct earnings driver yet. Western Digital Announces Sandisk Share Exchange With Investors
• Neutral Sentiment: Recent broker commentary has kept WDC at a “Moderate Buy,” supporting the stock but largely confirming already positive sentiment rather than adding a new catalyst. Western Digital Corporation Receives Consensus Rating of Moderate Buy from Brokerages

Wall Street Analyst Weigh In

WDC has been the topic of several analyst reports. Bank of America upped their price objective on Western Digital to $495.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Weiss Ratings raised Western Digital from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 15th. Morgan Stanley reaffirmed an "overweight" rating and issued a $488.00 price objective on shares of Western Digital in a research report on Friday, May 1st. Barclays upped their price objective on Western Digital from $450.00 to $620.00 and gave the company an "overweight" rating in a research report on Wednesday, May 27th. Finally, Cantor Fitzgerald upped their price objective on Western Digital to $660.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $433.29.

Western Digital Price Performance

NASDAQ WDC opened at $529.29 on Friday. The business's fifty day moving average price is $441.92 and its 200-day moving average price is $306.11. The stock has a market capitalization of $182.44 billion, a price-to-earnings ratio of 31.60 and a beta of 2.13. Western Digital Corporation has a 1-year low of $54.60 and a 1-year high of $602.54.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion for the quarter, compared to analysts' expectations of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company's revenue was up 45.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities research analysts anticipate that Western Digital Corporation will post 9.57 EPS for the current year.

Western Digital Increases Dividend

The company also recently declared 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. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. 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. Western Digital's payout ratio is currently 3.58%.

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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