Maytus Capital Management LLC Has $21.19 Million Position in Western Digital Corporation $WDC

Key Points

• Maytus Capital Management cut its Western Digital stake by 36.6% in the fourth quarter, but still held 123,000 shares worth about $21.19 million. Western Digital remained its third-largest position and represented about 5% of the portfolio.
• Western Digital posted strong recent results, with quarterly earnings of $2.72 per share on $3.34 billion in revenue, both ahead of Wall Street estimates. The company also raised its quarterly dividend to $0.15 per share from $0.13.
• Sentiment around WDC remains bullish: several analysts have raised price targets, and recent reports highlight strong AI-driven storage demand, tight hard-disk supply, and robust cloud-customer commitments. The stock has also seen insider selling, with insiders selling 29,322 shares over the last 90 days.

Maytus Capital Management LLC reduced its position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 36.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,000 shares of the data storage provider's stock after selling 71,131 shares during the period. Western Digital accounts for approximately 5.0% of Maytus Capital Management LLC's portfolio, making the stock its 3rd largest position. Maytus Capital Management LLC's holdings in Western Digital were worth $21,189,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 worth $1,698,000 after buying an additional 3,019 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Western Digital by 229.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider's stock valued at $56,000 after buying an additional 967 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Western Digital during the second quarter valued at approximately $307,000. Cresset Asset Management LLC bought a new position in shares of Western Digital during the second quarter valued at approximately $292,000. Finally, Federated Hermes Inc. lifted its stake in Western Digital by 55.3% in the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider's stock worth $152,000 after acquiring an additional 845 shares during the period. 92.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Western Digital

In other news, Director Bruce E. Kiddoo sold 750 shares of Western Digital 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 transaction, the director directly owned 3,903 shares in the company, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cynthia L. Tregillis sold 432 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $545.60, for a total value of $235,699.20. Following the completion of the sale, the insider owned 116,643 shares in the company, valued at $63,640,420.80. The trade was a 0.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 29,322 shares of company stock valued at $12,768,550 over the last ninety days. Company insiders own 0.18% of the company's stock.

Western Digital Trading Up 4.2%

Shares of Western Digital stock opened at $681.08 on Wednesday. Western Digital Corporation has a 12 month low of $57.88 and a 12 month high of $729.92. The firm has a market capitalization of $234.75 billion, a P/E ratio of 40.66 and a beta of 2.13. The business has a fifty day simple moving average of $462.12 and a two-hundred day simple moving average of $316.21.

Western Digital (NASDAQ:WDC - Get Free Report) last released its 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 firm had revenue of $3.34 billion for 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%. The company's revenue was up 45.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Analysts predict that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The firm 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 dividend of $0.15 per share. This is a positive change from Western Digital's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, June 5th. Western Digital's payout ratio is 3.58%.

Western Digital News Roundup

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

• Positive Sentiment: Morgan Stanley raised its outlook on Western Digital and boosted its price target, adding to the bullish case that AI data-center growth is driving stronger-than-expected storage demand. Western Digital Stock Just Hit a New All-Time High. Here's Why.
• Positive Sentiment: Multiple reports say WDC is benefiting from a broader re-rating of AI storage stocks, with investors focused on tight hard-disk supply, sold-out inventory, and higher pricing power. Western Digital stock jumps as AI trade reignites
• Positive Sentiment: Media coverage highlighted a hyperscaler multiyear commitment to Western Digital, reinforcing confidence that demand from large cloud customers remains robust. Hyperscaler’s Multiyear Commitment with Western Digital (WDC) Highlights Robust Demand
• Neutral Sentiment: Investors are also watching June 22 for the planned SanDisk-related swap, which could create another event-driven trading catalyst for WDC. Dear Western Digital Stock Fans, Mark Your Calendars for June 22
• Negative Sentiment: One commentary piece argued the stock may be due for a near-term pullback after its huge run-up this year, suggesting valuation and momentum risks could cap gains in the short term. Western Digital stock looks ripe for a near-term pullback: find out more

Analyst Ratings Changes

Several analysts recently weighed in on WDC shares. Evercore reiterated an "outperform" rating and issued a $575.00 price target on shares of Western Digital in a report on Tuesday, May 26th. Bank of America raised their target price on shares of Western Digital to $495.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Citigroup lifted their target price on shares of Western Digital from $500.00 to $685.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. UBS Group boosted their price target on shares of Western Digital from $350.00 to $375.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Finally, Sanford C. Bernstein raised shares of Western Digital from a "market perform" rating to an "outperform" rating and set a $340.00 price target for the company in a research note on Tuesday, March 31st. One equities research 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $450.46.

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.

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