AustralianSuper Pty Ltd Buys 66,450 Shares of Western Digital Corporation $WDC

Key Points

• AustralianSuper Pty Ltd increased its Western Digital stake by 23.3% in the fourth quarter, adding 66,450 shares to reach 351,672 shares valued at about $60.6 million.
• Western Digital reported strong quarterly results, with EPS of $2.72 beating estimates and revenue of $3.34 billion topping forecasts; revenue also jumped 45.5% year over year.
• Analyst sentiment remains upbeat, with the stock carrying a Moderate Buy consensus and an average price target of $395.83, while the company also raised its quarterly dividend from $0.13 to $0.15 per share.

AustralianSuper Pty Ltd boosted its stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 23.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 351,672 shares of the data storage provider's stock after purchasing an additional 66,450 shares during the period. AustralianSuper Pty Ltd owned 0.10% of Western Digital worth $60,583,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Western Digital by 0.6% during the 3rd 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 in the last quarter. WCM Investment Management LLC acquired a new stake in shares of Western Digital in the 3rd quarter valued at approximately $791,317,000. Northern Trust Corp grew its stake in shares of Western Digital by 11.2% in the third quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider's stock valued at $456,884,000 after buying an additional 384,103 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Western Digital by 11.8% during the third quarter. Dimensional Fund Advisors LP now owns 3,804,907 shares of the data storage provider's stock worth $456,737,000 after buying an additional 402,981 shares during the last quarter. Finally, Fred Alger Management LLC increased its holdings in Western Digital by 4,923.9% during the third quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider's stock worth $409,049,000 after buying an additional 3,339,225 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Evercore reiterated an "outperform" rating and issued a $500.00 price target on shares of Western Digital in a research note on Friday, May 1st. Susquehanna reaffirmed a "neutral" rating and issued a $285.00 target price on shares of Western Digital in a report on Friday, February 6th. Truist Financial set a $310.00 target price on shares of Western Digital in a research note on Tuesday, February 3rd. Wall Street Zen upgraded Western Digital from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, Argus set a $300.00 price target on Western Digital in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $395.83.

Western Digital Stock Performance

Shares of WDC stock opened at $489.15 on Friday. The company has a market capitalization of $168.60 billion, a price-to-earnings ratio of 29.20 and a beta of 2.10. The company has a 50-day simple moving average of $347.73 and a 200 day simple moving average of $255.19. Western Digital Corporation has a 52 week low of $48.81 and a 52 week high of $525.15.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings data 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 during 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 for the quarter was up 45.5% compared to the same quarter last year. During the same period last year, the business posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Sell-side analysts forecast that Western Digital Corporation will post 9.57 EPS for the current year.

Western Digital Increases Dividend

The firm also recently disclosed 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 of this dividend is Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is an increase from Western Digital's previous quarterly dividend of $0.13. Western Digital's payout ratio is presently 2.99%.

Key Headlines Impacting Western Digital

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)

Insiders Place Their Bets

In related news, CEO Irving Tan sold 20,000 shares of the firm's stock in a transaction 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 in the company, valued at approximately $246,342,096. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $268.27, for a total value of $2,501,349.48. Following the completion of the transaction, the insider directly owned 121,682 shares of the company's stock, valued at approximately $32,643,630.14. This trade represents a 7.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,679 shares of company stock worth $18,049,314 in the last quarter. Corporate insiders own 0.18% of the company's stock.

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.

Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Corporation (NASDAQ:WDC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.