Lifestyle Asset Management Inc. Sells 3,155 Shares of Western Digital Corporation $WDC

Key Points

• Lifestyle Asset Management reduced its Western Digital stake by 16.2% in the fourth quarter, selling 3,155 shares and leaving it with 16,284 shares valued at about $2.8 million.
• Western Digital continues to attract strong institutional and analyst support, with hedge funds holding 92.51% of shares and the stock carrying a consensus “Moderate Buy” rating and $424.33 average price target.
• The company reported strong results and raised its dividend, topping quarterly EPS and revenue estimates, issuing upbeat Q4 2026 guidance, and increasing its quarterly payout from $0.13 to $0.15 per share.

Lifestyle Asset Management Inc. trimmed its stake in Western Digital Corporation (NASDAQ:WDC - Free Report) by 16.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,284 shares of the data storage provider's stock after selling 3,155 shares during the period. Lifestyle Asset Management Inc.'s holdings in Western Digital were worth $2,805,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WDC. Norges Bank acquired a new position in Western Digital during the 4th quarter worth $788,729,000. Fred Alger Management LLC lifted its position in Western Digital by 4,923.9% during the 3rd quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider's stock worth $409,049,000 after acquiring an additional 3,339,225 shares during the last quarter. Soroban Capital Partners LP lifted its position in Western Digital by 1,926.3% during the 2nd quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider's stock worth $195,882,000 after acquiring an additional 2,910,062 shares during the last quarter. Polar Capital Holdings Plc acquired a new position in Western Digital during the 3rd quarter worth $221,800,000. Finally, National Pension Service lifted its position in Western Digital by 267.6% during the 4th quarter. National Pension Service now owns 1,691,659 shares of the data storage provider's stock worth $291,422,000 after acquiring an additional 1,231,477 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Mizuho set a $470.00 target price on shares of Western Digital in a research report on Friday, May 1st. The Goldman Sachs Group reissued a "neutral" rating and set a $400.00 target price on shares of Western Digital in a research report on Friday, May 1st. Susquehanna restated a "neutral" rating and set a $285.00 price objective on shares of Western Digital in a report on Friday, February 6th. Weiss Ratings upgraded shares of Western Digital from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 15th. Finally, Zacks Research upgraded shares of Western Digital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $424.33.

Trending Headlines about Western Digital

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

Insider Buying and Selling at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of the company's stock in a transaction dated 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 of the company's stock, 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 through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 214 shares of the company's stock in a transaction dated 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 directly owned 117,157 shares in the company, valued at approximately $63,221,431.91. The trade was a 0.18% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 28,890 shares of company stock worth $12,532,851. Insiders own 0.18% of the company's stock.

Western Digital Stock Performance

NASDAQ:WDC opened at $575.50 on Friday. The firm's 50-day moving average is $417.75 and its 200-day moving average is $293.25. Western Digital Corporation has a 52-week low of $54.22 and a 52-week high of $602.54. The company has a market cap of $198.36 billion, a price-to-earnings ratio of 34.36 and a beta of 2.13.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The business'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. Equities analysts predict that Western Digital Corporation will post 9.57 EPS for the current year.

Western Digital Increases Dividend

The firm 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. The ex-dividend date of this dividend is Friday, June 5th. 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%. Western Digital's payout ratio is presently 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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