MUFG Securities EMEA plc Purchases 7,376 Shares of Western Digital Corporation $WDC

Key Points

• MUFG Securities EMEA plc more than doubled its Western Digital stake in the fourth quarter, buying an additional 7,376 shares and bringing its total holdings to 14,016 shares worth about $2.4 million.
• Western Digital reported a strong quarter, with earnings and revenue both topping analyst expectations. The company posted $2.72 EPS on $3.34 billion in revenue, and quarterly revenue rose 45.5% year over year.
• The stock has been bolstered by bullish analyst upgrades and AI-driven storage demand. Barclays and Evercore both raised their price targets, while the company also increased its quarterly dividend from $0.13 to $0.15 per share.

MUFG Securities EMEA plc raised its position in Western Digital Corporation (NASDAQ:WDC - Free Report) by 111.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,016 shares of the data storage provider's stock after buying an additional 7,376 shares during the quarter. MUFG Securities EMEA plc's holdings in Western Digital were worth $2,415,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Western Digital by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 43,282,393 shares of the data storage provider's stock valued at $5,196,484,000 after purchasing an additional 243,177 shares during the period. WCM Investment Management LLC bought a new stake in shares of Western Digital during the 3rd quarter valued at $791,317,000. Norges Bank bought a new stake in shares of Western Digital during the 4th quarter valued at $788,729,000. Northern Trust Corp increased its stake in Western Digital by 11.2% in the 3rd quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider's stock worth $456,884,000 after acquiring an additional 384,103 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Western Digital by 11.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,804,907 shares of the data storage provider's stock worth $456,737,000 after acquiring an additional 402,981 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $411.84, for a total value of $8,236,800.00. Following the completion of the sale, the chief executive officer owned 598,150 shares in the company, valued at approximately $246,342,096. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director owned 3,903 shares of the company's stock, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 54,405 shares of company stock valued at $18,575,428. 0.18% of the stock is owned by insiders.

Western Digital Price Performance

Shares of WDC stock opened at $546.20 on Tuesday. The stock has a market capitalization of $188.26 billion, a PE ratio of 32.61 and a beta of 2.13. Western Digital Corporation has a 1-year low of $51.17 and a 1-year high of $564.14. The business has a 50-day moving average of $400.87 and a 200 day moving average of $284.43.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.33. The company had revenue of $3.34 billion during the quarter, compared to analysts' expectations of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.Western Digital's quarterly revenue was up 45.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Analysts anticipate that Western Digital Corporation will post 9.57 EPS for the current year.

Western Digital Increases Dividend

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

Key Stories Impacting Western Digital

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

• Positive Sentiment: Western Digital is benefiting from a strong AI memory supercycle, with memory and storage shares extending a parabolic rally as investors bet on sustained demand for data-center storage. Micron Rises 7%, Western Digital Climbs and SanDisk Climb 4% as Memory Stocks Extend Parabolic Run
• Positive Sentiment: Barclays raised its price target on Western Digital to $620 from $450 and kept an Overweight rating, citing strong memory and storage fundamentals. Barclays Raises its Price Target on Western Digital (WDC)
• Positive Sentiment: Evercore ISI also lifted its target on Western Digital to $575 from $410 while reiterating an Outperform rating, adding to bullish Wall Street sentiment. Here’s What Evercore Now Says About Western Digital Corp (WDC) Stock
• Positive Sentiment: Western Digital highlighted its role in AI infrastructure at Computex, framing storage as a core part of the AI data economy rather than just a secondary hardware category. WD at Computex 2026: AI Doesn't Just Run on Compute - It Runs on Data
• Neutral Sentiment: Several articles noted heavy bullish momentum and strong valuation expansion in memory stocks, but also warned that the move has become highly extended and vulnerable to a sharp reversal if demand expectations cool. SanDisk Stock Near $1,700: Two Risks That Could Break the Momentum
• Neutral Sentiment: One filing-related article said Situational Awareness LP sold its stake in Western Digital, but the piece did not suggest a broader change in the company’s fundamentals. Western Digital Corporation (WDC): Leopold Aschenbrenner Is Selling This Stock

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Evercore restated an "outperform" rating and issued a $575.00 target price on shares of Western Digital in a research note on Tuesday, May 26th. Rosenblatt Securities upped their target price on Western Digital from $340.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Bank of America upped their target price on Western Digital to $495.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. New Street Research set a $250.00 target price on Western Digital in a research note on Tuesday, February 3rd. Finally, Susquehanna restated a "neutral" rating and issued a $285.00 target price on shares of Western Digital in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $416.63.

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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