Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys New Position in Western Digital Corporation $WDC

Key Points

• Fideuram Intesa Sanpaolo Private Banking initiated a new position in Western Digital during the fourth quarter, buying 2,515 shares valued at about $433,000.
• Western Digital reported strong quarterly results, beating expectations with earnings of $2.72 per share on revenue of $3.34 billion, and it issued Q4 2026 guidance of 3.10-3.40 EPS.
• The company also raised its quarterly dividend to $0.15 per share from $0.13, while analysts currently rate the stock a Moderate Buy with a consensus price target of $395.83.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,515 shares of the data storage provider's stock, valued at approximately $433,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in shares of Western Digital by 5.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 60,620 shares of the data storage provider's stock valued at $10,443,000 after acquiring an additional 3,214 shares in the last quarter. Tredje AP fonden raised its holdings in shares of Western Digital by 554.6% during the fourth quarter. Tredje AP fonden now owns 242,929 shares of the data storage provider's stock valued at $41,849,000 after acquiring an additional 205,819 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Western Digital by 17.4% during the fourth quarter. Larson Financial Group LLC now owns 675 shares of the data storage provider's stock valued at $116,000 after acquiring an additional 100 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Western Digital by 35.8% during the fourth quarter. Handelsbanken Fonder AB now owns 135,500 shares of the data storage provider's stock valued at $23,343,000 after acquiring an additional 35,700 shares in the last quarter. Finally, Flynn Zito Capital Management LLC bought a new position in shares of Western Digital during the fourth quarter valued at approximately $280,000. Institutional investors own 92.51% of the company's stock.

Insider Buying and Selling

In other news, insider Cynthia L. Tregillis sold 106 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $458.87, for a total value of $48,640.22. Following the sale, the insider directly owned 118,443 shares of the company's stock, valued at approximately $54,349,939.41. This represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 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 completion of the sale, the chief executive officer directly owned 598,150 shares in the company, valued at approximately $246,342,096. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 53,785 shares of company stock valued at $18,097,954 over the last ninety days. Company insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. New Street Research set a $250.00 target price on Western Digital in a report on Tuesday, February 3rd. Evercore restated an "outperform" rating and set a $500.00 target price on shares of Western Digital in a report on Friday, May 1st. Zacks Research upgraded Western Digital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 6th. Citigroup upped their target price on Western Digital from $405.00 to $500.00 and gave the company a "buy" rating in a report on Friday, May 1st. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $400.00 target price on shares of Western Digital in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $395.83.

Western Digital Stock Down 0.4%

Shares of WDC stock opened at $484.28 on Friday. The stock has a market cap of $166.92 billion, a price-to-earnings ratio of 28.91 and a beta of 2.10. The business's fifty day moving average is $373.02 and its 200 day moving average is $268.41. Western Digital Corporation has a twelve month low of $49.00 and a twelve month high of $525.15.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.33. The company had revenue of $3.34 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 45.5% on a year-over-year basis. During the same period in the prior year, the firm 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 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 5th. 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%. Western Digital's payout ratio is currently 2.99%.

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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