Corient Private Wealth LP Has $32.92 Million Stock Holdings in Western Digital Corporation $WDC

Key Points

• Corient Private Wealth reduced its Western Digital position by 21.1% in the second quarter, selling 13,812 shares and retaining 51,543 shares valued at $32.92 million.
• Institutional ownership remains high at 92.51%, with major investors including California State Teachers Retirement System, Soroban Capital Partners, Norges Bank and Legal & General either expanding or initiating positions.
• Western Digital reported strong fundamentals, including 43.8% year-over-year revenue growth and quarterly EPS above expectations, supporting a “Moderate Buy” consensus; however, AI-related uncertainty, macroeconomic pressures and recent insider selling remain risks.

Corient Private Wealth LP lowered its position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 21.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,543 shares of the data storage provider's stock after selling 13,812 shares during the quarter. Corient Private Wealth LP's holdings in Western Digital were worth $32,922,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WDC. California State Teachers Retirement System raised its holdings in shares of Western Digital by 64,424.3% in the second quarter. California State Teachers Retirement System now owns 338,388,746 shares of the data storage provider's stock valued at $216,135,660,000 after buying an additional 337,864,310 shares during the last quarter. Norges Bank bought a new stake in Western Digital during the 4th quarter worth about $788,729,000. Soroban Capital Partners LP increased its position in Western Digital by 1,926.3% in the 2nd quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider's stock valued at $195,882,000 after acquiring an additional 2,910,062 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Western Digital in the second quarter worth about $1,602,927,000. Finally, Polar Capital Holdings Plc acquired a new position in shares of Western Digital during the third quarter worth approximately $221,800,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Key Western Digital News

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

• Positive Sentiment: Bullish analyst view remains intact: Citi reaffirmed a Buy rating and raised its price target to $740, citing AI-driven storage demand that is outpacing supply. Recent analyst targets include a median of $597.50, with several targets ranging from $650 to $900. Western Digital Buy Rating Reaffirmed
• Positive Sentiment: Fundamental support: Western Digital’s latest reported quarter showed 43.8% year-over-year revenue growth, earnings above consensus and first-quarter fiscal 2027 guidance of $3.85–$4.15 per share. Bullish commentary argues that the recent correction removed speculative excess without undermining the company’s longer-term compounding potential. Western Digital The Correction Priced Out The Froth
• Neutral Sentiment: Short-interest data provides little signal: Reported short interest was zero shares, with a zero-day days-to-cover ratio, suggesting the data may be incomplete or unreliable rather than indicating meaningful short positioning.
• Negative Sentiment: DeepSeek-driven AI concerns pressured the sector: An apparent breakthrough in AI efficiency raised questions about how much computing and storage infrastructure future AI systems may require, contributing to a selloff across storage and semiconductor equities. Western Digital Stock Slips Friday
• Negative Sentiment: Macro and trading pressures added to the decline: Rising Treasury yields and higher oil prices hurt high-growth technology shares, while weakness in Micron and Seagate highlighted a broad memory and storage selloff. Recent insider filings also show substantial selling and no reported insider purchases, creating an additional near-term overhang. Western Digital Falls as Storage Stocks Slide

Insider Activity

In related news, insider Cynthia Tregillis sold 432 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $451.20, for a total value of $194,918.40. Following the sale, the insider directly owned 111,030 shares in the company, valued at $50,096,736. This trade represents a 0.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the transaction, the chief executive officer owned 575,966 shares of the company's stock, valued at approximately $256,287,591.02. This represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,437 shares of company stock valued at $11,461,345 in the last ninety days. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WDC shares. Jefferies Financial Group set a $575.00 price target on shares of Western Digital in a research note on Tuesday, May 26th. Melius Research set a $1,050.00 price objective on Western Digital and gave the stock a "buy" rating in a report on Monday, June 29th. Evercore reiterated an "outperform" rating and issued a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Susquehanna lifted their target price on Western Digital from $360.00 to $500.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. boosted their target price on Western Digital from $530.00 to $650.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $534.56.

Western Digital Stock Performance

WDC opened at $447.18 on Monday. The company has a fifty day moving average price of $493.39 and a two-hundred day moving average price of $453.24. The firm has a market capitalization of $154.13 billion, a PE ratio of 18.47, a P/E/G ratio of 1.90 and a beta of 2.13. Western Digital Corporation has a 52 week low of $95.98 and a 52 week high of $799.87.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share for the quarter, beating analysts' consensus estimates of $3.31 by $0.25. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the business posted $1.66 EPS. The firm's quarterly revenue was up 43.8% on a year-over-year basis. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Equities analysts forecast that Western Digital Corporation will post 19.65 EPS for the current year.

Western Digital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital's payout ratio is presently 2.48%.

Western Digital Company Profile

Western Digital Corporation NASDAQ: WDC develops, manufactures and sells data storage products and solutions for data centers, cloud service providers, enterprises, businesses and consumers. Its portfolio is centered on hard disk drives (HDDs), including high-capacity enterprise drives used in cloud and data center environments, as well as products for network-attached storage, surveillance and personal computing.

The company markets products under brands including Western Digital, WD, WD_BLACK and Ultrastar.

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