Harbour Investments Inc. Sells 13,861 Shares of Western Digital Corporation $WDC

Key Points

• Harbour Investments sharply reduced its Western Digital stake in the fourth quarter, selling 13,861 shares and cutting its position by 91.6% to 1,275 shares valued at about $220,000.
• Insider selling has also been notable: CEO Irving Tan and insider Cynthia L. Tregillis both sold shares recently, and company insiders have sold 37,408 shares over the past three months. Still, insiders own only 0.18% of the stock.
• Western Digital reported strong quarterly results, beating earnings and revenue expectations, and analysts remain mostly bullish with a consensus “Moderate Buy” rating and an average price target of $424.33. The company also increased its quarterly dividend from $0.13 to $0.15 per share.

Harbour Investments Inc. lessened its holdings in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 91.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,275 shares of the data storage provider's stock after selling 13,861 shares during the quarter. Harbour Investments Inc.'s holdings in Western Digital were worth $220,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Avion Wealth grew its stake in shares of Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider's stock worth $31,000 after acquiring an additional 113 shares in the last quarter. Concord Wealth Partners bought a new stake in shares of Western Digital in the 4th quarter worth $41,000. Cornerstone Planning Group LLC grew its stake in shares of Western Digital by 207.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the data storage provider's stock worth $32,000 after acquiring an additional 178 shares in the last quarter. BOKF NA grew its stake in shares of Western Digital by 6,700.0% in the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider's stock worth $33,000 after acquiring an additional 268 shares in the last quarter. Finally, JPL Wealth Management LLC bought a new stake in shares of Western Digital in the 3rd quarter worth $33,000. Institutional investors own 92.51% of the company's stock.

Insider Activity at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction on Friday, May 1st. The shares were sold at an average price of $411.84, for a total value of $8,236,800.00. Following the sale, the chief executive officer owned 598,150 shares in the company, valued at $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. The transaction 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, insider Cynthia L. Tregillis sold 214 shares of Western Digital stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $539.63, for a total transaction of $115,480.82. Following the completion of the sale, the insider owned 117,157 shares in the company, valued at approximately $63,221,431.91. This trade represents a 0.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 37,408 shares of company stock valued at $14,707,666. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wedbush reiterated an "outperform" rating and issued a $325.00 target price on shares of Western Digital in a research note on Monday, February 9th. Mizuho set a $470.00 target price on shares of Western Digital in a research note on Friday, May 1st. Zacks Research upgraded shares of Western Digital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. UBS Group upped their target price on shares of Western Digital from $350.00 to $375.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Finally, TD Cowen upped their target price on shares of Western Digital from $325.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Western Digital has an average rating of "Moderate Buy" and a consensus price target of $424.33.

Western Digital Price Performance

Shares of WDC opened at $594.11 on Thursday. The firm's 50 day simple moving average is $412.26 and its 200 day simple moving average is $290.30. The company has a market capitalization of $204.78 billion, a P/E ratio of 35.47 and a beta of 2.13. Western Digital Corporation has a 1-year low of $53.47 and a 1-year high of $602.54.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.39 by $0.33. The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. Western Digital's quarterly revenue was up 45.5% on a year-over-year basis. During the same period last year, the firm posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities analysts anticipate that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

The business also recently announced 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. This is an increase from Western Digital's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Friday, June 5th. Western Digital's payout ratio is 2.99%.

Western Digital News Roundup

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

• Positive Sentiment: Western Digital disclosed a privately negotiated exchange of convertible debt, helping reduce refinancing risk and signaling further progress in cleaning up its balance sheet. Investors appear to view the move as freeing up more flexibility for future AI-related investments. Western Digital Restructures Convertible Debt via Equity Exchange
• Positive Sentiment: Multiple recent articles highlighted Western Digital as a beneficiary of the AI storage boom, with demand for memory and data storage rising across cloud, AI, IoT, and enterprise markets. 3 Storage Devices Stocks to Buy as the Industry Gains Momentum
• Positive Sentiment: Commentary this week also emphasized that Western Digital’s AI storage trade still has room to run, reinforcing bullish sentiment around the stock’s long-term growth story. Western Digital: The AI Storage Trade Still Has Room To Run
• Neutral Sentiment: Western Digital’s conference appearances kept the company in view, but the headlines did not point to a major new operating update or guidance change. Western Digital Corporation (WDC) Presents at 2026 Evercore Global TMT Conference Transcript
• Neutral Sentiment: Several writeups said Western Digital has strong momentum and all-time highs, but one article argued the stock may already be expensive after a huge run, which tempers the near-term upside case. Up 1,000% in the Past Year, It’s Too Late to Buy Western Digital Stock
• Negative Sentiment: An insider sale by Vidyadhara K. Gubbi was disclosed, which can slightly pressure sentiment even though the sale was small relative to the insider’s remaining holdings. SEC filing for insider sale

About Western Digital

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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