Attestor Capital Ltd Invests $3.80 Million in Western Digital Corporation $WDC

Key Points

• Attestor Capital Ltd initiated a new position in Western Digital, buying 22,067 shares worth about $3.8 million; the stake now makes up 1.8% of its portfolio and is its 7th-largest holding.
• Western Digital continues to draw strong Wall Street support, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating and an average price target of $450.46.
• The company posted solid quarterly results, beating EPS and revenue estimates, and also raised its quarterly dividend to $0.15 per share from $0.12.

Attestor Capital Ltd purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 22,067 shares of the data storage provider's stock, valued at approximately $3,801,000. Western Digital comprises about 1.8% of Attestor Capital Ltd's investment portfolio, making the stock its 7th largest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WDC. Alps Advisors Inc. raised its holdings in shares of Western Digital by 0.8% in the fourth quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider's stock worth $811,000 after buying an additional 37 shares during the period. Quadcap Wealth Management LLC grew its position in Western Digital by 2.1% in the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider's stock valued at $346,000 after acquiring an additional 41 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its position in Western Digital by 2.6% in 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 acquiring an additional 51 shares during the last quarter. Bogart Wealth LLC increased its stake in Western Digital by 19.4% in the fourth quarter. Bogart Wealth LLC now owns 369 shares of the data storage provider's stock worth $64,000 after purchasing an additional 60 shares during the period. Finally, CYBER HORNET ETFs LLC lifted its position in shares of Western Digital by 7.2% during the fourth quarter. CYBER HORNET ETFs LLC now owns 889 shares of the data storage provider's stock worth $153,000 after purchasing an additional 60 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WDC shares. Bank of America boosted their target price on shares of Western Digital to $495.00 and gave the company a "buy" rating in a research note on Monday, April 27th. TD Cowen lifted their price objective on shares of Western Digital from $325.00 to $500.00 and gave the company a "buy" rating in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their price objective on shares of Western Digital from $530.00 to $650.00 and gave the company an "overweight" rating in a report on Friday, June 12th. Zacks Research upgraded shares of Western Digital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. Finally, Cantor Fitzgerald raised their target price on shares of Western Digital to $660.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Western Digital currently has an average rating of "Moderate Buy" and a consensus price target of $450.46.

Western Digital Trading Up 4.8%

WDC opened at $746.23 on Friday. Western Digital Corporation has a 12-month low of $58.66 and a 12-month high of $799.87. The business's fifty day simple moving average is $478.97 and its 200-day simple moving average is $324.21. The company has a market capitalization of $257.21 billion, a price-to-earnings ratio of 44.55 and a beta of 2.13.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings data 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. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm 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 earnings per share. The firm's quarterly revenue was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities research analysts predict that Western Digital Corporation will post 9.6 EPS for the current year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were issued a $0.15 dividend. The ex-dividend date was 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 $0.12. Western Digital's dividend payout ratio (DPR) is presently 3.58%.

Insider Buying and Selling at Western Digital

In other news, Director Bruce E. Kiddoo sold 750 shares of the company's 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 owned 3,903 shares of the company's stock, valued at approximately $2,062,813.56. This represents a 16.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the transaction, the insider owned 116,643 shares in the company, valued at approximately $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 worth $12,768,550 over the last quarter. 0.18% of the stock is currently owned by company insiders.

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

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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