Polymer Capital Management HK LTD Sells 101,679 Shares of Western Digital Corporation $WDC

Key Points

• Polymer Capital Management HK LTD cut its Western Digital stake by 62.5% in the fourth quarter, selling 101,679 shares and leaving it with 60,883 shares valued at about $10.49 million.
• Western Digital reported better-than-expected quarterly results, with EPS of $2.72 versus $2.39 expected and revenue of $3.34 billion, up 45.5% from a year earlier. The company also issued Q4 2026 guidance of $3.10 to $3.40 EPS.
• The company boosted its quarterly dividend from $0.13 to $0.15 per share, while analysts remained broadly positive, with several firms raising price targets and consensus rating the stock a Moderate Buy.

Polymer Capital Management HK LTD reduced its position in Western Digital Corporation (NASDAQ:WDC - Free Report) by 62.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,883 shares of the data storage provider's stock after selling 101,679 shares during the quarter. Western Digital accounts for about 1.5% of Polymer Capital Management HK LTD's holdings, making the stock its 15th largest holding. Polymer Capital Management HK LTD's holdings in Western Digital were worth $10,488,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WDC. Rakuten Securities Inc. raised its stake in shares of Western Digital by 4,070.0% during the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock worth $27,000 after acquiring an additional 407 shares in the last quarter. Avion Wealth grew its holdings in shares of Western Digital by 163.8% in the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider's stock worth $31,000 after purchasing an additional 113 shares during the last quarter. Swiss RE Ltd. purchased a new position in shares of Western Digital in the fourth quarter valued at about $32,000. BOKF NA increased its holdings in Western Digital by 6,700.0% during the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider's stock valued at $33,000 after purchasing an additional 268 shares during the period. Finally, JPL Wealth Management LLC purchased a new position in shares of Western Digital during the third quarter valued at approximately $33,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Stock Up 6.4%

Shares of Western Digital stock opened at $562.92 on Friday. Western Digital Corporation has a twelve month low of $54.60 and a twelve month high of $602.54. The company's 50 day moving average is $447.23 and its 200 day moving average is $307.91. The company has a market cap of $194.03 billion, a price-to-earnings ratio of 33.61 and a beta of 2.13.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. Western Digital'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. Sell-side analysts expect that Western Digital Corporation will post 9.57 EPS for the current fiscal year.

Western Digital Increases Dividend

The company 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 dividend of $0.15 per share. 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 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital's dividend payout ratio is presently 3.58%.

Analysts Set New Price Targets

Several brokerages recently issued reports on WDC. TD Cowen boosted their price target on shares of Western Digital from $325.00 to $500.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Evercore reaffirmed an "outperform" rating and issued a $575.00 price target on shares of Western Digital in a research note on Tuesday, May 26th. Robert W. Baird increased their price objective on Western Digital from $310.00 to $450.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Bank of America raised their price objective on Western Digital to $495.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Finally, UBS Group upped their target price on shares of Western Digital from $350.00 to $375.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Western Digital currently has a consensus rating of "Moderate Buy" and an average target price of $443.71.

Insider Activity

In other Western Digital news, Director Bruce E. Kiddoo sold 750 shares of the stock in a transaction dated 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 owned 3,903 shares of the company's stock, valued at $2,062,813.56. This represents a 16.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $443.19, for a total value of $2,071,470.06. Following the transaction, the insider owned 90,041 shares of the company's stock, valued at $39,905,270.79. This represents a 4.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 29,322 shares of company stock worth $12,768,550. 0.18% of the stock is currently owned by corporate insiders.

Trending Headlines about Western Digital

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

• Positive Sentiment: JPMorgan raised its price target on Western Digital from $530 to $650 and reiterated an overweight rating, signaling more upside potential for the shares. Article Title
• Positive Sentiment: The company announced a Sandisk share exchange with institutional investors, a move that has been interpreted as supportive of the stock and part of a broader capital strategy. Article Title
• Positive Sentiment: Western Digital highlighted AI-focused storage innovation at Computex, reinforcing the market’s view that it is well positioned to benefit from data-center and AI infrastructure spending. Article Title
• Positive Sentiment: Analysts also pointed to strong free cash flow, a larger dividend, and a new $4 billion buyback plan, which supports the investment case by showing confidence in cash generation and shareholder returns. Article Title
• Neutral Sentiment: Western Digital has been outperforming the broader market over the past year, and brokerages still generally rate the stock a moderate buy, which supports sentiment but is more of a confirmation than a new catalyst. Article Title
• Negative Sentiment: One recent market note said WDC slipped with the broader market after a hotter-than-expected CPI report revived rate-hike concerns, showing that macro pressure can still weigh on the stock at times. Article Title

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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