Massachusetts Financial Services Co. MA Acquires New Holdings in Western Digital Corporation $WDC

Key Points

• Massachusetts Financial Services acquired a new stake of 13,942 shares in Western Digital during Q4, valued at about $2.40 million according to its latest 13F filing.
• Analyst bullishness and strong results: several firms raised price targets (Bank of America to $415, among others) and the stock has a consensus "Moderate Buy" with a $304.29 target after Western Digital beat quarterly EPS estimates ($2.13 vs. $1.93) and reported revenue up 25.2% year‑over‑year.
• Notable insider selling: insiders sold 92,795 shares worth about $24.27 million in the past 90 days — including Director Matthew Massengill and CEO Irving Tan — and corporate insiders now own just 0.18% of the company.

Massachusetts Financial Services Co. MA acquired a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,942 shares of the data storage provider's stock, valued at approximately $2,402,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ORG Partners LLC raised its holdings in Western Digital by 124.5% in the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider's stock valued at $25,000 after buying an additional 117 shares during the period. Cullen Frost Bankers Inc. increased its stake in Western Digital by 551.4% during the third quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider's stock worth $29,000 after purchasing an additional 204 shares during the period. Westfuller Advisors LLC purchased a new stake in Western Digital during the third quarter worth about $30,000. Cornerstone Planning Group LLC increased its stake in Western Digital by 207.0% during the third quarter. Cornerstone Planning Group LLC now owns 264 shares of the data storage provider's stock worth $32,000 after purchasing an additional 178 shares during the period. Finally, BOKF NA increased 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 purchasing an additional 268 shares during the period. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Matthew E. Massengill sold 36,926 shares of the business's stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $260.43, for a total transaction of $9,616,638.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Irving Tan sold 20,000 shares of the business's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $255.44, for a total value of $5,108,800.00. Following the transaction, the chief executive officer directly owned 623,586 shares of the company's stock, valued at approximately $159,288,807.84. This represents a 3.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 92,795 shares of company stock valued at $24,265,884. Corporate insiders own 0.18% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. UBS Group set a $306.00 price target on shares of Western Digital in a research note on Friday, January 30th. Bank of America boosted their price target on shares of Western Digital from $375.00 to $415.00 and gave the stock a "buy" rating in a research note on Friday. Barclays boosted their price target on shares of Western Digital from $240.00 to $325.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. Zacks Research lowered shares of Western Digital from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Finally, Wells Fargo & Company boosted their price target on shares of Western Digital from $260.00 to $335.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. Twenty-one analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $304.29.

Western Digital Stock Performance

Shares of Western Digital stock opened at $372.52 on Friday. Western Digital Corporation has a one year low of $35.51 and a one year high of $378.98. The company has a market cap of $126.30 billion, a PE ratio of 37.36, a P/E/G ratio of 0.84 and a beta of 1.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.46. The business has a 50-day simple moving average of $293.17 and a 200-day simple moving average of $215.98.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The data storage provider reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.20. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the previous year, the company posted $1.77 earnings per share. The business's revenue for the quarter was up 25.2% on a year-over-year basis. On average, equities research analysts forecast that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Thursday, March 5th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital's payout ratio is currently 5.02%.

More Western Digital News

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

• Positive Sentiment: Bank of America raised its WDC price target to $415 and assigned a "buy" rating, signaling increased analyst conviction and implying further upside from current levels.
• Positive Sentiment: JPMorgan raised its price target to $400 and moved to "overweight," another institutional upgrade supporting the rally and likely attracting more buyer interest. Benzinga
• Positive Sentiment: Solid fundamentals and earnings momentum — WDC has a recent track record of beats and raised guidance drivers (high-capacity/HAMR drives, manufacturing productivity). Analysts and outlets highlight the company as positioned to beat again, which supports valuation multiple expansion. Will Western Digital (WDC) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: WDC reported multi‑year AI storage commitments from large customers, boosted its dividend by 25% and announced meaningful buybacks — all shareholder‑friendly actions that underpin investor confidence in continued demand from AI workloads. Western Digital (WDC) Is Up 7.7% After Securing Multi‑Year AI Storage Commitments And Boosting Payouts
• Positive Sentiment: Broader market strength (Dow, S&P 500, Nasdaq gains and new highs) is lifting cyclical and growth names, providing tailwinds for WDC’s share price. Dow jumps 800 points, S&P 500 at new record, Nasdaq gains 6.8% this week
• Neutral Sentiment: Coverage notes WDC hitting record highs and strong institutional buying, but also documents insider selling activity — the market reaction so far shows buyers outweighing internal selling, so this is mixed for near‑term direction. Western Digital (WDC) Stock Surges to Record Peak Despite Insider Sales Activity
• Negative Sentiment: Retail SSD price cuts (example: WD Blue SN5100 markdown) could signal near‑term ASP pressure in consumer channels and tighter margins if competition forces broader discounting. WD Blue SN5100 NVMe SSD drops to $324.61 in latest price cut

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.