Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 3,781 Shares of Western Digital Corporation $WDC

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its Western Digital stake by 4.5% in the fourth quarter, selling 3,781 shares and ending with 79,528 shares valued at about $13.7 million.
• Western Digital reported better-than-expected quarterly results, posting $2.72 EPS versus $2.39 expected and revenue of $3.34 billion, up 45.5% year over year. The company also raised its quarterly dividend to $0.15 per share from $0.13.
• Wall Street sentiment remains bullish, with multiple analysts raising price targets on WDC, including Barclays to $620 and Evercore ISI to $575. Shares are also being supported by optimism around the AI-driven memory and storage demand cycle.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,528 shares of the data storage provider's stock after selling 3,781 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Western Digital were worth $13,700,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Western Digital by 7.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider's stock worth $1,698,000 after purchasing an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Western Digital by 229.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider's stock worth $56,000 after purchasing an additional 967 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Western Digital during the second quarter worth about $307,000. Cresset Asset Management LLC bought a new stake in Western Digital during the second quarter worth about $292,000. Finally, Federated Hermes Inc. lifted its stake in Western Digital by 55.3% during the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider's stock worth $152,000 after purchasing an additional 845 shares during the last quarter. Institutional investors own 92.51% of the company's stock.

Western Digital Stock Performance

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

Western Digital (NASDAQ:WDC - Get Free Report) last posted its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the business earned $1.36 EPS. 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. Sell-side analysts forecast that Western Digital Corporation will post 9.57 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 dividend of $0.15 per share. This is a positive change from Western Digital's previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital's dividend payout ratio (DPR) is currently 2.99%.

Key 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

Insider Transactions at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 9,324 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $268.27, for a total transaction of $2,501,349.48. Following the transaction, the insider owned 121,682 shares in the company, valued at approximately $32,643,630.14. This represents a 7.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the company's 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 in the company, valued at $246,342,096. This trade represents a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 54,405 shares of company stock worth $18,575,428 over the last quarter. Insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Jefferies Financial Group set a $575.00 price target on Western Digital in a research note on Tuesday, May 26th. Barclays lifted their price objective on Western Digital from $450.00 to $620.00 and gave the stock an "overweight" rating in a report on Wednesday, May 27th. Morgan Stanley reiterated an "overweight" rating and issued a $488.00 price objective on shares of Western Digital in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their price objective on Western Digital from $320.00 to $400.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. Finally, Wells Fargo & Company lifted their price objective on Western Digital from $500.00 to $575.00 and gave the stock an "overweight" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $416.63.

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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