Arbejdsmarkedets Tillaegspension Invests $23.63 Million in Western Digital Corporation $WDC

Key Points

• Arbejdsmarkedets Tillaegspension bought a new stake in Western Digital during the fourth quarter, purchasing 137,189 shares valued at about $23.63 million.
• Western Digital has been drawing strong institutional interest, with major investors like Vanguard and others increasing holdings; institutions and hedge funds now own 92.51% of the company.
• The company continues to benefit from AI-driven storage demand, with upbeat analyst ratings, a recent earnings beat, and a higher quarterly dividend, though insider selling and some sector-risk concerns remain on the radar.

Arbejdsmarkedets Tillaegspension purchased a new position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 137,189 shares of the data storage provider's stock, valued at approximately $23,634,000.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Western Digital by 0.6% during the third quarter. Vanguard Group Inc. now owns 43,282,393 shares of the data storage provider's stock worth $5,196,484,000 after purchasing an additional 243,177 shares during the period. WCM Investment Management LLC acquired a new stake in shares of Western Digital during the third quarter worth about $791,317,000. Northern Trust Corp raised its position in shares of Western Digital by 11.2% during the third quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider's stock worth $456,884,000 after purchasing an additional 384,103 shares during the period. Dimensional Fund Advisors LP raised its position in Western Digital by 11.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,804,907 shares of the data storage provider's stock valued at $456,737,000 after buying an additional 402,981 shares during the last quarter. Finally, Fred Alger Management LLC raised its position in Western Digital by 4,923.9% in the 3rd quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider's stock valued at $409,049,000 after buying an additional 3,339,225 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company's stock.

Key Western Digital News

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

• Positive Sentiment: Western Digital was named to the 2026 S&P Dow Jones Best-in-Class Index North America for the first time, highlighting its ESG performance and leadership in sustainable AI infrastructure. WD Named to 2026 S&P Dow Jones Best‑in‑Class Index North America, Recognizing Leadership in Sustainable AI Infrastructure
• Positive Sentiment: Multiple reports point to WDC riding an AI storage boom, with strong earnings, rising hyperscaler demand, and aggressive shareholder returns after the SanDisk split. WDC's Whopping 893% Run in a Year: Buy the Stock Amid AI Storage Boom?
• Positive Sentiment: Memory chip stocks, including Western Digital, have been rising on momentum tied to AI demand and the view that storage is a critical constraint in data-center buildouts. SNDK, MU: Why Are AI Memory Chip Stocks Rising Today, 05/13/26?
• Neutral Sentiment: Broader market commentary also noted Western Digital among the recent high-momentum stocks, reflecting strong investor interest rather than a company-specific new catalyst. 2 Momentum Stocks to Consider Right Now and 1 That Underwhelm
• Negative Sentiment: One sector-risk report flagged WDC’s broader industry as vulnerable ahead of a policy change, which could temper some of the recent enthusiasm if macro conditions weaken. 3 Sectors That Look Most Vulnerable Ahead of May 15 (WDC)

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WDC. Wall Street Zen raised Western Digital from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Wells Fargo & Company lifted their target price on Western Digital from $335.00 to $500.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Argus set a $300.00 target price on Western Digital in a research report on Tuesday, February 3rd. UBS Group lifted their target price on Western Digital from $350.00 to $375.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Finally, TD Cowen lifted their target price on Western Digital from $325.00 to $500.00 and gave the company a "buy" rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $395.83.

Insider Transactions at Western Digital

In other news, insider Vidyadhara K. Gubbi sold 10,148 shares of Western Digital stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $270.31, for a total transaction of $2,743,105.88. Following the completion of the transaction, the insider directly owned 107,794 shares in the company, valued at approximately $29,137,796.14. The trade was a 8.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction that occurred on Friday, May 1st. The stock was 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 of the company's stock, valued at $246,342,096. This represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 53,679 shares of company stock worth $18,049,314. 0.18% of the stock is owned by company insiders.

Western Digital Stock Down 1.0%

NASDAQ:WDC opened at $489.15 on Friday. The firm has a market capitalization of $168.60 billion, a price-to-earnings ratio of 29.20 and a beta of 2.10. Western Digital Corporation has a twelve month low of $48.81 and a twelve month high of $525.15. The stock's 50 day moving average price is $347.73 and its two-hundred day moving average price is $255.19.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the previous year, the company posted $1.36 EPS. The firm'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. As a group, analysts anticipate that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

The firm 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 dividend of $0.15 per share. The ex-dividend date is Friday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Western Digital's previous quarterly dividend of $0.13. Western Digital's dividend payout ratio is presently 2.99%.

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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