Atalan Capital Partners LP Has $121.52 Million Position in Western Digital Corporation $WDC

Key Points

• Atalan Capital Partners LP cut its Western Digital stake by 36.5% in the fourth quarter, but still held 705,400 shares valued at about $121.5 million, making WDC its 5th-largest holding.
• Western Digital is drawing bullish analyst attention as Morgan Stanley and JPMorgan both raised price targets, with reports pointing to AI-driven storage demand, tight hard-disk supply, and strong pricing power.
• The company recently raised its quarterly dividend to $0.15 per share from $0.13 and reported stronger-than-expected quarterly results, including revenue and earnings that beat estimates.

Atalan Capital Partners LP decreased its holdings in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 36.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 705,400 shares of the data storage provider's stock after selling 405,388 shares during the period. Western Digital makes up 8.6% of Atalan Capital Partners LP's portfolio, making the stock its 5th biggest holding. Atalan Capital Partners LP owned 0.21% of Western Digital worth $121,519,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Alps Advisors Inc. boosted its position in shares of Western Digital by 0.8% during the 4th quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider's stock valued at $811,000 after purchasing an additional 37 shares in the last quarter. Quadcap Wealth Management LLC boosted its position in shares of Western Digital by 2.1% during the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider's stock valued at $346,000 after purchasing an additional 41 shares in the last quarter. Moss Adams Wealth Advisors LLC boosted its position in shares of Western Digital by 2.6% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider's stock valued at $341,000 after purchasing an additional 51 shares in the last quarter. Bogart Wealth LLC boosted its position in shares of Western Digital by 19.4% during the 4th quarter. Bogart Wealth LLC now owns 369 shares of the data storage provider's stock valued at $64,000 after purchasing an additional 60 shares in the last quarter. Finally, CYBER HORNET ETFs LLC boosted its position in shares of Western Digital by 7.2% during the 4th quarter. CYBER HORNET ETFs LLC now owns 889 shares of the data storage provider's stock valued at $153,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 92.51% of the company's stock.

Western Digital News Summary

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

• Positive Sentiment: Morgan Stanley raised its outlook on Western Digital and boosted its price target, adding to the bullish case that AI data-center growth is driving stronger-than-expected storage demand. Western Digital Stock Just Hit a New All-Time High. Here's Why.
• Positive Sentiment: Multiple reports say WDC is benefiting from a broader re-rating of AI storage stocks, with investors focused on tight hard-disk supply, sold-out inventory, and higher pricing power. Western Digital stock jumps as AI trade reignites
• Positive Sentiment: Media coverage highlighted a hyperscaler multiyear commitment to Western Digital, reinforcing confidence that demand from large cloud customers remains robust. Hyperscaler’s Multiyear Commitment with Western Digital (WDC) Highlights Robust Demand
• Neutral Sentiment: Investors are also watching June 22 for the planned SanDisk-related swap, which could create another event-driven trading catalyst for WDC. Dear Western Digital Stock Fans, Mark Your Calendars for June 22
• Negative Sentiment: One commentary piece argued the stock may be due for a near-term pullback after its huge run-up this year, suggesting valuation and momentum risks could cap gains in the short term. Western Digital stock looks ripe for a near-term pullback: find out more

Western Digital Price Performance

Shares of WDC opened at $681.08 on Wednesday. Western Digital Corporation has a one year low of $57.88 and a one year high of $729.92. The company has a 50-day moving average of $462.12 and a two-hundred day moving average of $316.21. The stock has a market cap of $234.75 billion, a price-to-earnings ratio of 40.66 and a beta of 2.13.

Western Digital (NASDAQ:WDC - Get Free Report) last announced 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 net margin of 55.29% and a return on equity of 42.95%. The company had revenue of $3.34 billion during the quarter, compared to analysts' expectations of $3.25 billion. During the same period last year, the company posted $1.36 earnings per share. The business's revenue for the quarter was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Analysts anticipate that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be issued a $0.15 dividend. The ex-dividend date is Friday, June 5th. This is a positive change from Western Digital's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Western Digital's dividend payout ratio is 3.58%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WDC shares. JPMorgan Chase & Co. raised their price objective 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. Robert W. Baird raised their price objective on shares of Western Digital from $310.00 to $450.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Rosenblatt Securities raised their price objective on shares of Western Digital from $340.00 to $500.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Sanford C. Bernstein upgraded shares of Western Digital from a "market perform" rating to an "outperform" rating and set a $340.00 price objective for the company in a research report on Tuesday, March 31st. Finally, Morgan Stanley raised their target price on shares of Western Digital from $488.00 to $650.00 and gave the stock an "overweight" rating in a report on Monday. 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 stock. According to data from MarketBeat, Western Digital has a consensus rating of "Moderate Buy" and a consensus price target of $450.46.

Insider Activity at Western Digital

In other news, Director Bruce E. Kiddoo sold 750 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were 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 represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the completion of the sale, the insider directly owned 85,154 shares of the company's stock, valued at $47,366,060.96. This trade represents a 2.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 29,322 shares of company stock valued at $12,768,550 over the last ninety days. 0.18% of the stock is 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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