Resona Asset Management Co. Ltd. Sells 6,459 Shares of Western Digital Corporation $WDC

Key Points

• Resona Asset Management trimmed its Western Digital stake by 5.7% in the fourth quarter, selling 6,459 shares and leaving it with 107,683 shares worth about $18.7 million.
• Western Digital is seeing strong institutional and analyst support, with 92.51% of shares held by institutions and several firms recently raising ratings or price targets, including Bank of America at $495 and an average target of $395.83.
• The company posted solid results and raised its dividend, beating quarterly earnings and revenue estimates, guiding Q4 2026 EPS at 3.10 to 3.40, and increasing its quarterly payout to $0.15 per share from $0.13.

Resona Asset Management Co. Ltd. trimmed its position in Western Digital Corporation (NASDAQ:WDC - Free Report) by 5.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,683 shares of the data storage provider's stock after selling 6,459 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Western Digital were worth $18,697,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Flynn Zito Capital Management LLC bought a new stake in Western Digital in the 4th quarter valued at about $280,000. Profund Advisors LLC increased its position in Western Digital by 442.2% in the 4th quarter. Profund Advisors LLC now owns 32,109 shares of the data storage provider's stock valued at $5,531,000 after buying an additional 26,187 shares in the last quarter. ProShare Advisors LLC increased its position in Western Digital by 581.4% in the 4th quarter. ProShare Advisors LLC now owns 618,061 shares of the data storage provider's stock valued at $106,473,000 after buying an additional 527,359 shares in the last quarter. HighTower Advisors LLC increased its position in Western Digital by 63.4% in the 4th quarter. HighTower Advisors LLC now owns 35,293 shares of the data storage provider's stock valued at $6,080,000 after buying an additional 13,700 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in Western Digital by 6.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 16,163 shares of the data storage provider's stock valued at $2,784,000 after buying an additional 920 shares in the last quarter. 92.51% of the stock is owned by institutional investors.

Insider Transactions at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of the business's 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 transaction, the chief executive officer owned 598,150 shares in the company, valued at $246,342,096. The trade was a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 that occurred on Wednesday, March 4th. The stock was sold at an average price of $268.27, for a total value of $2,501,349.48. Following the completion of the transaction, the insider owned 121,682 shares in the company, valued at $32,643,630.14. The trade was a 7.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,679 shares of company stock worth $18,049,314 in the last 90 days. Insiders own 0.18% of the company's stock.

More Western Digital News

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

• Positive Sentiment: Western Digital announced industry-first post-quantum cryptography hard drives, reinforcing its pitch that it can win more AI data-center business by offering “quantum-safe” storage security for hyperscalers. WD Advances Next-Generation Trusted Infrastructure with Industry’s First Post-Quantum Cryptography Hard Drives to Help Secure the Future of AI Data
• Positive Sentiment: Multiple reports highlighted that AI infrastructure is driving a storage supercycle, with stronger pricing power for enterprise SSDs and hard drives; that backdrop is favorable for Western Digital’s revenue and margins. Seagate and Western Digital: AI Storage Demand Is Now Showing Up in Pricing Power
• Positive Sentiment: Analyst commentary suggests Western Digital’s fair value is being revised higher on stronger earnings expectations tied to AI storage demand, and one note cited a price target around $504, supporting the stock’s long-term bull case. Why The Western Digital (WDC) Story Is Shifting On New Earnings And AI Storage Expectations
• Positive Sentiment: Western Digital was added to the 2026 S&P Dow Jones Best-in-Class Index North America, a small but constructive inclusion that can improve visibility with institutional investors. Western Digital Corporation (WDC) Included in 2026 S&P Dow Jones Best-in-Class Index North America
• Neutral Sentiment: Shares were little changed in the session after a sharp sector-wide selloff, as memory stocks including Micron and SanDisk bounced while Western Digital lagged, suggesting WDC is being pulled around by broader group trading rather than company-specific news. Micron Is Up 6% Today: Is It Outperforming Other Memory Stocks Like SanDisk and Western Digital?
• Negative Sentiment: Near-term sentiment was pressured by reports of AI supply-chain and capacity-crunch fears across memory stocks, which sparked a premarket selloff in Western Digital and peers. Micron, Seagate, Western Digital Sink On Capacity Crunch Fears

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wall Street Zen raised Western Digital from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Bank of America boosted their price objective on Western Digital to $495.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Sanford C. Bernstein raised 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. Zacks Research raised Western Digital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 6th. Finally, Argus set a $300.00 price objective on Western Digital in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $395.83.

Western Digital Stock Performance

Shares of WDC opened at $455.80 on Wednesday. Western Digital Corporation has a 52 week low of $49.00 and a 52 week high of $525.15. The stock has a 50 day moving average price of $360.35 and a two-hundred day moving average price of $262.26. The firm has a market capitalization of $157.11 billion, a P/E ratio of 27.21 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 for the quarter, topping analysts' consensus estimates of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the business earned $1.36 EPS. The company'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. On average, equities analysts forecast that Western Digital Corporation will post 9.57 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. Stockholders of record on Friday, June 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Friday, June 5th. This is a boost from Western Digital's previous quarterly dividend of $0.13. Western Digital's dividend payout ratio (DPR) is presently 2.99%.

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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