Dorsey Wright & Associates Invests $3.25 Million in Western Digital Corporation $WDC

Key Points

• Dorsey Wright & Associates opened a new position in Western Digital during the fourth quarter, buying 18,842 shares valued at about $3.25 million.
• Western Digital reported strong quarterly results, with EPS of $2.72 beating estimates and revenue of $3.34 billion topping forecasts, while revenue rose 45.5% year over year.
• Analysts remain bullish on the stock, with several firms raising price targets and the broader consensus rating sitting at Moderate Buy; the company also recently increased its quarterly dividend to $0.15 per share.

Dorsey Wright & Associates purchased a new position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 18,842 shares of the data storage provider's stock, valued at approximately $3,246,000.

Other hedge funds also recently modified their holdings of the company. Attestor Capital Ltd purchased a new stake in Western Digital in the fourth quarter worth $3,801,000. Wick Capital Partners LLC purchased a new position in shares of Western Digital during the 4th quarter valued at $1,150,000. Compound Planning Inc. lifted its position in shares of Western Digital by 16.6% during the 4th quarter. Compound Planning Inc. now owns 6,058 shares of the data storage provider's stock valued at $1,044,000 after buying an additional 863 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of Western Digital by 210.7% during the 4th quarter. Corient Private Wealth LLC now owns 181,049 shares of the data storage provider's stock worth $31,189,000 after acquiring an additional 122,779 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Western Digital by 17.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 142,676 shares of the data storage provider's stock worth $24,579,000 after acquiring an additional 21,540 shares during the period. Institutional investors own 92.51% of the company's stock.

Western Digital Stock Performance

NASDAQ:WDC opened at $746.23 on Friday. The business's fifty day moving average is $478.97 and its 200 day moving average is $324.21. The firm has a market cap of $257.21 billion, a price-to-earnings ratio of 44.55 and a beta of 2.13. Western Digital Corporation has a 52-week low of $58.66 and a 52-week high of $799.87.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.39 by $0.33. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm's revenue was up 45.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities analysts predict that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. This is an increase from Western Digital's previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 5th. Western Digital's dividend payout ratio (DPR) is 3.58%.

Insider Activity

In other Western Digital news, insider Vidyadhara K. Gubbi sold 4,674 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $443.19, for a total value of $2,071,470.06. Following the sale, the insider directly owned 90,041 shares in the company, valued at $39,905,270.79. This represents a 4.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce E. Kiddoo sold 750 shares of the firm's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the transaction, the director directly owned 3,903 shares of the company's stock, valued at approximately $2,062,813.56. The trade was a 16.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,322 shares of company stock valued at $12,768,550 over the last ninety days. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WDC shares. Citigroup boosted their price objective on Western Digital from $500.00 to $685.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. Wells Fargo & Company increased their target price on shares of Western Digital from $500.00 to $575.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. Rosenblatt Securities lifted their target price on shares of Western Digital from $340.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Evercore reiterated an "outperform" rating and issued a $575.00 target price on shares of Western Digital in a research note on Tuesday, May 26th. Finally, Mizuho boosted their price target on shares of Western Digital from $550.00 to $685.00 and gave the company an "outperform" rating in a research report on Monday, June 8th. One 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 has an average rating of "Moderate Buy" and a consensus price target of $450.46.

More 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 Company 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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