Hillsdale Investment Management Inc. Acquires New Position in Western Digital Corporation $WDC

Hillsdale Investment Management Inc. acquired a new stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,700 shares of the data storage provider's stock, valued at approximately $982,000.

A number of other hedge funds also recently made changes to their positions in the stock. WCM Investment Management LLC bought a new stake in Western Digital during the third quarter valued at about $791,317,000. Fred Alger Management LLC raised its holdings in Western Digital by 4,923.9% during the third quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider's stock valued at $409,049,000 after acquiring an additional 3,339,225 shares during the period. Soroban Capital Partners LP raised its holdings in Western Digital by 1,926.3% during the second 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 during the period. Polar Capital Holdings Plc bought a new stake in Western Digital during the third quarter valued at about $221,800,000. Finally, National Pension Service raised its holdings in Western Digital by 267.6% during the fourth quarter. National Pension Service now owns 1,691,659 shares of the data storage provider's stock valued at $291,422,000 after acquiring an additional 1,231,477 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction dated 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 transaction, the chief executive officer owned 598,150 shares in the company, valued at approximately $246,342,096. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the transaction, the director owned 3,903 shares of the company's stock, valued at approximately $2,062,813.56. This represents a 16.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 54,405 shares of company stock worth $18,575,428. Insiders own 0.18% of the company's stock.

Key Western Digital News

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

• Positive Sentiment: Western Digital is benefiting from a strong AI memory supercycle, with memory and storage shares extending a parabolic rally as investors bet on sustained demand for data-center storage. Micron Rises 7%, Western Digital Climbs and SanDisk Climb 4% as Memory Stocks Extend Parabolic Run
• Positive Sentiment: Barclays raised its price target on Western Digital to $620 from $450 and kept an Overweight rating, citing strong memory and storage fundamentals. Barclays Raises its Price Target on Western Digital (WDC)
• Positive Sentiment: Evercore ISI also lifted its target on Western Digital to $575 from $410 while reiterating an Outperform rating, adding to bullish Wall Street sentiment. Here’s What Evercore Now Says About Western Digital Corp (WDC) Stock
• Positive Sentiment: Western Digital highlighted its role in AI infrastructure at Computex, framing storage as a core part of the AI data economy rather than just a secondary hardware category. WD at Computex 2026: AI Doesn't Just Run on Compute - It Runs on Data
• Neutral Sentiment: Several articles noted heavy bullish momentum and strong valuation expansion in memory stocks, but also warned that the move has become highly extended and vulnerable to a sharp reversal if demand expectations cool. SanDisk Stock Near $1,700: Two Risks That Could Break the Momentum
• Neutral Sentiment: One filing-related article said Situational Awareness LP sold its stake in Western Digital, but the piece did not suggest a broader change in the company’s fundamentals. Western Digital Corporation (WDC): Leopold Aschenbrenner Is Selling This Stock

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Susquehanna reissued a "neutral" rating and set a $285.00 price target on shares of Western Digital in a report on Friday, February 6th. Truist Financial set a $310.00 price target on Western Digital in a report on Tuesday, February 3rd. Rosenblatt Securities raised their price target on Western Digital from $340.00 to $500.00 and gave the company a "buy" rating in a report on Friday, May 1st. New Street Research set a $250.00 price target on Western Digital in a report on Tuesday, February 3rd. Finally, Zacks Research raised Western Digital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 6th. One research 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 company's stock. According to data from MarketBeat.com, Western Digital currently has a consensus rating of "Moderate Buy" and a consensus price target of $416.63.

Western Digital Trading Up 2.8%

Shares of WDC stock opened at $546.20 on Tuesday. Western Digital Corporation has a 12-month low of $51.17 and a 12-month high of $564.14. The stock's 50-day moving average price is $400.87 and its 200-day moving average price is $284.43. The stock has a market capitalization of $188.26 billion, a price-to-earnings ratio of 32.61 and a beta of 2.13.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly 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 company had revenue of $3.34 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, research analysts predict that Western Digital Corporation will post 9.57 EPS for the current fiscal year.

Western Digital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be given a $0.15 dividend. This is an increase from Western Digital's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, June 5th. Western Digital's dividend payout ratio (DPR) is 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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