Mitsubishi UFJ Asset Management Co. Ltd. Buys 46,072 Shares of Western Digital Corporation $WDC

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 751,202 shares of the data storage provider's stock after acquiring an additional 46,072 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.22% of Western Digital worth $141,001,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Avion Wealth increased its holdings in shares of Western Digital by 163.8% during the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider's stock valued at $31,000 after acquiring an additional 113 shares in the last quarter. ORG Partners LLC increased its holdings in shares of Western Digital by 124.5% during the third quarter. ORG Partners LLC now owns 211 shares of the data storage provider's stock valued at $25,000 after acquiring an additional 117 shares in the last quarter. Concord Wealth Partners bought a new stake in Western Digital in the 4th quarter worth about $41,000. Cullen Frost Bankers Inc. increased its holdings in Western Digital by 551.4% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider's stock worth $29,000 after buying an additional 204 shares in the last quarter. Finally, Westfuller Advisors LLC bought a new stake in Western Digital in the 3rd quarter worth about $30,000. 92.51% of the stock is currently owned by institutional investors.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Q3 beat and upbeat guidance — WDC reported an EPS beat and raised its FYQ4 EPS range, with accelerating revenue and margins driven by AI/data‑center HDD demand, which is a core reason investors are bidding the stock up. Western Digital Stock Surges After Q3 Beat
• Positive Sentiment: Analyst upgrades/price-target lifts — Multiple firms (including TD Cowen and Wells Fargo) raised price targets into the ~$500 area and reiterated buy/overweight views, reinforcing momentum and giving investors fresh upside conviction. AI Boom Drives Western Digital Toward $500 Target
• Positive Sentiment: Sector tailwind from SanDisk's breakout — SanDisk’s dramatic post‑spinoff rally and strength in memory suppliers supports a bullish narrative for WDC as customers scale AI/datacenter capacity. SanDisk Outpaces Former Parent
• Positive Sentiment: Risk‑on market backdrop and media endorsements — Falling VIX and bullish TV/press coverage (including Jim Cramer highlighting storage stocks) have helped rotate capital into tech and storage names like WDC. Jim Cramer on Storage Stocks
• Neutral Sentiment: Equity‑for‑equity exchange announced — WD entered agreements to exchange Sandisk and WDC shares (settlement expected May 7). This is a capital‑structure/holder rearrangement that is informational but not clearly dilutive or immediately value‑creating. WD Announces Equity-for-Equity Exchange
• Neutral Sentiment: Investor outreach — WDC presented at Barclays’ conference and has widespread coverage; useful for transparency and flows but not an immediate catalyst. Barclays Conference Transcript
• Negative Sentiment: Insider selling / executive stock sales — CEO Irving Tan (20,000 shares under a 10b5‑1 plan) and other executives sold shares recently; while some sales were pre‑arranged, investors often view sizable insider selling near highs as a modest negative signal. Irving Tan SEC Filing
• Negative Sentiment: Additional insider reductions — Other insiders (including the COO) sold smaller stakes this week, which may keep some traders cautious about near‑term profit‑taking risk. Executives Unload $10M+

Analyst Ratings Changes

Several equities research analysts recently commented on WDC shares. Wall Street Zen upgraded Western Digital from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Argus set a $300.00 price objective on Western Digital in a report on Tuesday, February 3rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Western Digital in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their price objective on Western Digital from $320.00 to $400.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. Finally, Sanford C. Bernstein upgraded Western Digital from a "market perform" rating to an "outperform" rating and set a $340.00 price objective for the company in a report on Tuesday, March 31st. Nineteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $395.83.

Western Digital Stock Up 3.8%

NASDAQ WDC opened at $483.15 on Thursday. The company has a 50-day moving average price of $321.98 and a 200-day moving average price of $239.79. Western Digital Corporation has a 52 week low of $43.60 and a 52 week high of $483.87. The firm has a market capitalization of $166.53 billion, a P/E ratio of 28.84, a PEG ratio of 0.94 and a beta of 2.10.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (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 company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same period in the previous year, the business posted $1.36 earnings per share. The firm's quarterly 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, equities research analysts anticipate that Western Digital Corporation will post 8.82 EPS for the current year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be paid a $0.15 dividend. This is a positive change from Western Digital's previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Western Digital's dividend payout ratio (DPR) is currently 2.99%.

Insider Buying and Selling

In related news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction on Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the transaction, the chief executive officer directly owned 598,150 shares in the company, valued at approximately $246,342,096. The trade was a 3.24% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 9,324 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $268.27, for a total value of $2,501,349.48. Following the sale, the insider directly owned 121,682 shares of the company's stock, valued at $32,643,630.14. This represents a 7.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 60,459 shares of company stock valued at $19,883,236. 0.18% of the stock is owned by company insiders.

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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