Harvest Fund Management Co. Ltd Purchases 66,044 Shares of Western Digital Corporation $WDC

Key Points

• Harvest Fund Management Co. Ltd boosted its Western Digital stake by 326.6% in the fourth quarter, buying 66,044 additional shares and bringing its holdings to 86,264 shares worth about $13.8 million.
• Western Digital posted strong quarterly results, with EPS of $2.72 and revenue of $3.34 billion, both ahead of analyst expectations. Revenue jumped 45.5% year over year, and the company raised its Q4 2026 EPS guidance to 3.10-3.40.
• The company also raised its quarterly dividend from $0.13 to $0.15 per share, while analysts remain broadly positive overall with a consensus rating of "Moderate Buy" and a target price of $424.33.

Harvest Fund Management Co. Ltd raised its stake in Western Digital Corporation (NASDAQ:WDC - Free Report) by 326.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,264 shares of the data storage provider's stock after acquiring an additional 66,044 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Western Digital were worth $13,801,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other Western Digital news, insider Vidyadhara K. Gubbi sold 2,475 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the completion of the sale, the insider owned 85,154 shares of the company's stock, valued at approximately $47,366,060.96. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce E. Kiddoo sold 750 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 3,903 shares of the company's stock, valued at $2,062,813.56. The trade was a 16.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,890 shares of company stock worth $12,532,851 over the last three months. Company insiders own 0.18% of the company's stock.

Western Digital Price Performance

WDC opened at $575.50 on Friday. The company has a market cap of $198.36 billion, a price-to-earnings ratio of 34.36 and a beta of 2.13. The firm has a 50 day simple moving average of $417.75 and a 200 day simple moving average of $293.25. Western Digital Corporation has a fifty-two week low of $54.22 and a fifty-two week high of $602.54.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly 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. The business had revenue of $3.34 billion during 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 revenue for the quarter was up 45.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, analysts expect that Western Digital Corporation will post 9.57 EPS 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 paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 5th. This is a boost 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%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Robert W. Baird raised their price objective on shares of Western Digital from $310.00 to $450.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Citigroup raised their price objective on shares of Western Digital from $500.00 to $685.00 and gave the company a "buy" rating in a research report on Tuesday. Morgan Stanley restated an "overweight" rating and issued a $488.00 price objective on shares of Western Digital in a research report on Friday, May 1st. Cantor Fitzgerald raised their price objective on shares of Western Digital to $660.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Finally, Evercore reiterated an "outperform" rating and set a $575.00 price target on shares of Western Digital in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $424.33.

Key Western Digital News

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

• Positive Sentiment: Western Digital’s recent Computex 2026 messaging reinforced the idea that AI demand is not just about chips, but about storage and data movement, supporting the stock’s AI-related momentum. AI isn’t just a compute race. It’s a data race – and storage will decide the winners, WD shares
• Positive Sentiment: Citigroup reportedly raised its price target on Western Digital by 37%, which likely boosted investor confidence and helped send shares to fresh highs. Western Digital (WDC) Hits All-Time High as Citi Hikes PT by 37%
• Positive Sentiment: Western Digital also announced a convertible-debt exchange, which investors may view as a cleaner capital structure that gives the company more flexibility for future AI-related moves. Western Digital Restructures Convertible Debt via Equity Exchange
• Positive Sentiment: Commentary continues to frame Western Digital as a beneficiary of the AI storage supercycle, with tighter supply and firm pricing supporting the earnings outlook. How The Western Digital (WDC) Investment Story Is Shifting With AI Storage And New Valuations
• Positive Sentiment: Western Digital’s recent earnings were strong, with revenue and EPS beating estimates, which continues to underpin the rally in the stock. Western Digital stock and company profile
• Neutral Sentiment: The stock also drew attention from a conference presentation and ongoing coverage, but these items did not introduce a clearly new catalyst on their own. Western Digital Corporation (WDC) Presents at 2026 Evercore Global TMT Conference Transcript
• Negative Sentiment: A small insider sale by a company executive may have slightly cooled sentiment, though it was modest relative to the insider’s remaining holdings. SEC filing for insider sale
• Negative Sentiment: Near-term stock weakness may also reflect broad semiconductor-sector pressure after weak AI-chip commentary from peers, which can spill over into storage names like Western Digital. Micron Drops 7% as Broadcom's Disappointing AI Outlook Triggers a Semiconductor Selloff

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.