Keystone Investors PTE Ltd. Has $33.96 Million Position in Western Digital Corporation $WDC

Key Points

• Keystone Investors PTE Ltd. cut its Western Digital stake by 31.3% in the fourth quarter, but still held 197,152 shares worth about $33.96 million. The stock remains one of its top holdings, representing 3.1% of the portfolio.
• Western Digital has drawn bullish analyst action, including higher price targets from JPMorgan, Rosenblatt, Morgan Stanley, and Barclays. Overall, analysts rate the stock a Moderate Buy with a consensus target price of $443.71.
• The company reported strong quarterly results, beating EPS and revenue estimates and raising its dividend from $0.13 to $0.15 per share. Western Digital also set Q4 2026 EPS guidance of 3.100-3.400 and continues to be linked to AI/storage demand themes.

Keystone Investors PTE Ltd. decreased its holdings in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 31.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,152 shares of the data storage provider's stock after selling 89,736 shares during the period. Western Digital comprises 3.1% of Keystone Investors PTE Ltd.'s portfolio, making the stock its 10th biggest holding. Keystone Investors PTE Ltd. owned about 0.06% of Western Digital worth $33,963,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. grew its stake in Western Digital by 4,070.0% during the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock worth $27,000 after buying an additional 407 shares during the last quarter. Avion Wealth grew its stake in Western Digital by 163.8% during the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider's stock worth $31,000 after buying an additional 113 shares during the last quarter. Swiss RE Ltd. bought a new stake in Western Digital during the fourth quarter worth about $32,000. BOKF NA grew its stake in Western Digital by 6,700.0% during the third quarter. BOKF NA now owns 272 shares of the data storage provider's stock worth $33,000 after buying an additional 268 shares during the last quarter. Finally, JPL Wealth Management LLC bought a new stake in Western Digital during the third quarter worth about $33,000. Institutional investors own 92.51% of the company's stock.

Insider Activity at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 2,475 shares of the firm'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 transaction, the insider directly owned 85,154 shares of the company's stock, valued at approximately $47,366,060.96. This trade represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cynthia L. Tregillis sold 432 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the completion of the transaction, the insider directly owned 116,643 shares in the company, valued at approximately $63,640,420.80. The trade was a 0.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,322 shares of company stock valued at $12,768,550 over the last three months. 0.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WDC. Rosenblatt Securities upped their price objective 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. JPMorgan Chase & Co. upped their price objective on shares of Western Digital from $530.00 to $650.00 and gave the stock an "overweight" rating in a research note on Friday. Zacks Research raised shares of Western Digital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. Morgan Stanley reaffirmed an "overweight" rating and set a $488.00 price objective on shares of Western Digital in a research note on Friday, May 1st. Finally, Barclays upped their price objective on shares of Western Digital from $450.00 to $620.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 27th. One investment 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $443.71.

Western Digital Price Performance

WDC opened at $562.92 on Friday. Western Digital Corporation has a one year low of $54.60 and a one year high of $602.54. The company's 50 day simple moving average is $447.23 and its 200-day simple moving average is $307.91. The stock has a market capitalization of $194.03 billion, a P/E ratio of 33.61 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, beating the consensus estimate of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business had revenue of $3.34 billion for the quarter, compared to analysts' expectations of $3.25 billion. During the same period in the prior year, the firm earned $1.36 earnings per share. Western Digital's revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, analysts anticipate that Western Digital Corporation will post 9.57 EPS for the current year.

Western Digital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Western Digital's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, June 5th. Western Digital's payout ratio is currently 3.58%.

Key Western Digital News

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

• Positive Sentiment: JPMorgan raised its price target on Western Digital from $530 to $650 and reiterated an overweight rating, signaling more upside potential for the shares. Article Title
• Positive Sentiment: The company announced a Sandisk share exchange with institutional investors, a move that has been interpreted as supportive of the stock and part of a broader capital strategy. Article Title
• Positive Sentiment: Western Digital highlighted AI-focused storage innovation at Computex, reinforcing the market’s view that it is well positioned to benefit from data-center and AI infrastructure spending. Article Title
• Positive Sentiment: Analysts also pointed to strong free cash flow, a larger dividend, and a new $4 billion buyback plan, which supports the investment case by showing confidence in cash generation and shareholder returns. Article Title
• Neutral Sentiment: Western Digital has been outperforming the broader market over the past year, and brokerages still generally rate the stock a moderate buy, which supports sentiment but is more of a confirmation than a new catalyst. Article Title
• Negative Sentiment: One recent market note said WDC slipped with the broader market after a hotter-than-expected CPI report revived rate-hike concerns, showing that macro pressure can still weigh on the stock at times. Article Title

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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