Clear Harbor Asset Management LLC Has $1.50 Million Position in Western Digital Corporation $WDC

Key Points

• Clear Harbor Asset Management cut its Western Digital stake by 60.1% in the fourth quarter, leaving it with 8,682 shares worth about $1.50 million.
• Wall Street sentiment remains bullish overall: the stock has a Moderate Buy consensus rating, with 18 Buy ratings and an average target price of $416.63, while several analysts have recently raised targets.
• Western Digital reported better-than-expected quarterly results, with EPS of $2.72 and revenue of $3.34 billion, and it also increased its quarterly dividend to $0.15 per share.

Clear Harbor Asset Management LLC reduced its position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 60.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,682 shares of the data storage provider's stock after selling 13,068 shares during the period. Clear Harbor Asset Management LLC's holdings in Western Digital were worth $1,496,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of WDC. WCM Investment Management LLC acquired a new position in shares of Western Digital during the third quarter worth about $791,317,000. Norges Bank bought a new stake in Western Digital during the fourth quarter worth about $788,729,000. Fred Alger Management LLC raised 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 acquiring an additional 3,339,225 shares in the last quarter. Soroban Capital Partners LP raised its holdings in Western Digital by 1,926.3% during the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider's stock worth $195,882,000 after acquiring an additional 2,910,062 shares in the last quarter. Finally, Polar Capital Holdings Plc bought a new stake in Western Digital during the third quarter worth about $221,800,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WDC has been the topic of several analyst reports. Susquehanna reiterated a "neutral" rating and set 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 Western Digital in a report 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. Mizuho set a $470.00 target price on Western Digital in a report on Friday, May 1st. Finally, Wedbush reiterated an "outperform" rating and set a $325.00 target price on shares of Western Digital in a report on Monday, February 9th. One equities research 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $416.63.

Western Digital Stock Up 2.8%

NASDAQ:WDC opened at $546.20 on Tuesday. The stock's 50 day moving average price is $400.87 and its two-hundred day moving average price is $284.43. The firm has a market capitalization of $188.26 billion, a price-to-earnings ratio of 32.61 and a beta of 2.13. Western Digital Corporation has a 12-month low of $51.17 and a 12-month high of $564.14.

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 (EPS) 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 analyst estimates of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business's revenue for the quarter was up 45.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities research analysts expect 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 paid a $0.15 dividend. This is a positive change from Western Digital's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, June 5th. Western Digital's dividend payout ratio is currently 2.99%.

Insider Transactions at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction 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 Vidyadhara K. Gubbi sold 10,148 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $270.31, for a total value of $2,743,105.88. Following the transaction, the insider owned 107,794 shares in the company, valued at approximately $29,137,796.14. This trade represents a 8.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,405 shares of company stock worth $18,575,428 in the last ninety days. 0.18% of the stock is currently owned by company insiders.

More Western Digital News

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

• Positive Sentiment: Western Digital is benefiting from a strong AI memory supercycle, with memory and storage shares extending a parabolic rally as investors bet on sustained demand for data-center storage. Micron Rises 7%, Western Digital Climbs and SanDisk Climb 4% as Memory Stocks Extend Parabolic Run
• Positive Sentiment: Barclays raised its price target on Western Digital to $620 from $450 and kept an Overweight rating, citing strong memory and storage fundamentals. Barclays Raises its Price Target on Western Digital (WDC)
• Positive Sentiment: Evercore ISI also lifted its target on Western Digital to $575 from $410 while reiterating an Outperform rating, adding to bullish Wall Street sentiment. Here’s What Evercore Now Says About Western Digital Corp (WDC) Stock
• Positive Sentiment: Western Digital highlighted its role in AI infrastructure at Computex, framing storage as a core part of the AI data economy rather than just a secondary hardware category. WD at Computex 2026: AI Doesn't Just Run on Compute - It Runs on Data
• Neutral Sentiment: Several articles noted heavy bullish momentum and strong valuation expansion in memory stocks, but also warned that the move has become highly extended and vulnerable to a sharp reversal if demand expectations cool. SanDisk Stock Near $1,700: Two Risks That Could Break the Momentum
• Neutral Sentiment: One filing-related article said Situational Awareness LP sold its stake in Western Digital, but the piece did not suggest a broader change in the company’s fundamentals. Western Digital Corporation (WDC): Leopold Aschenbrenner Is Selling This 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.

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