Sharpepoint LLC Makes New $4.24 Million Investment in Western Digital Corporation $WDC

Key Points

• Sharpepoint LLC initiated a new position in Western Digital, buying 24,612 shares worth about $4.24 million in the fourth quarter. The stake makes WDC its 12th largest holding and about 2.5% of its portfolio.
• Western Digital continues to draw bullish analyst and fund interest, with Mizuho and Citi staying constructive and several hedge funds increasing or adding positions. Institutional investors and hedge funds now own 92.51% of the stock.
• The company reported strong quarterly results, beating EPS and revenue estimates, while also raising its quarterly dividend from $0.13 to $0.15 per share. Even so, the stock was down 5.3% amid broader weakness in memory and semiconductor shares.

Sharpepoint LLC bought a new position in Western Digital Corporation (NASDAQ:WDC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,612 shares of the data storage provider's stock, valued at approximately $4,240,000. Western Digital comprises about 2.5% of Sharpepoint LLC's investment portfolio, making the stock its 12th largest holding.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Western Digital by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 43,282,393 shares of the data storage provider's stock worth $5,196,484,000 after purchasing an additional 243,177 shares during the last quarter. Norges Bank acquired a new position in Western Digital in the 4th quarter worth about $788,729,000. Northern Trust Corp increased its position 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 purchasing an additional 384,103 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Western Digital by 11.8% during 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 in the last quarter. Finally, Fred Alger Management LLC boosted its stake in shares of Western Digital by 4,923.9% during the 3rd quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider's stock worth $409,049,000 after acquiring an additional 3,339,225 shares in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

More Western Digital News

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

• Positive Sentiment: Mizuho reiterated a bullish view on Western Digital, saying AI-driven storage demand continues to show no signs of slowing, which supports the long-term revenue outlook for the company. Mizuho doubles down on WDC stock as AI storage demand shows no signs of slowing down
• Positive Sentiment: Citi also remained bullish on Western Digital, suggesting analysts still see upside potential despite the stock’s recent volatility. Citi Remains Bullish on Western Digital Corporation (WDC) – Here’s Why
• Neutral Sentiment: Western Digital has been receiving elevated investor attention, with multiple articles noting that WDC is a trending stock and worth watching, but these pieces do not point to a specific new catalyst. Western Digital Corporation (WDC) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: One market commentary said WDC could deserve attention, reflecting continued interest in the stock rather than a clear operational update. Here's Why We Think Western Digital NASDAQ: WDC Might Deserve Your Attention Today
• Negative Sentiment: WDC fell more sharply than the broader market in the latest session, as memory and storage names came under pressure alongside peers such as Micron, indicating sector-wide risk-off sentiment was a key driver of the decline. Western Digital (WDC) Falls More Steeply Than Broader Market: What Investors Need to Know
• Negative Sentiment: Broader semiconductor and memory stocks sold off after geopolitical headlines raised macro uncertainty, and Western Digital was caught up in that move. Skyworks Solutions, Western Digital, and Teradyne Shares Are Falling, What You Need To Know

Western Digital Stock Down 5.3%

Shares of NASDAQ:WDC opened at $490.09 on Thursday. The business has a 50 day moving average price of $436.75 and a 200 day moving average price of $303.37. Western Digital Corporation has a twelve month low of $54.60 and a twelve month high of $602.54. The company has a market cap of $168.92 billion, a price-to-earnings ratio of 29.26 and a beta of 2.13.

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, beating 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 firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the company earned $1.36 EPS. The firm's revenue for the quarter 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. Analysts anticipate that Western Digital Corporation will post 9.57 EPS for the current year.

Western Digital Increases Dividend

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

Insiders Place Their Bets

In related news, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $545.60, for a total transaction 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. This represents a 0.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the sale, the director owned 3,903 shares of the company's stock, valued at approximately $2,062,813.56. The trade was a 16.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,322 shares of company stock worth $12,768,550 in the last 90 days. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on WDC. Morgan Stanley reiterated an "overweight" rating and set a $488.00 price target on shares of Western Digital in a research note on Friday, May 1st. TD Cowen upped their price target on Western Digital from $325.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Mizuho upped their price target on Western Digital from $550.00 to $685.00 and gave the stock an "outperform" rating in a research note on Monday. Wall Street Zen upgraded Western Digital from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, Bank of America upped their price target on Western Digital to $495.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $433.29.

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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