Sharpepoint LLC Sells 6,284 Shares of Western Digital Corporation $WDC

Key Points

• Sharpepoint LLC reduced its Western Digital stake by 25.5% in the first quarter, selling 6,284 shares and leaving it with 18,328 shares worth about $4.96 million.
• Western Digital continues to see heavy institutional ownership and active hedge fund trading, with several funds adding to positions while institutions overall own 92.51% of the stock.
• Analyst sentiment remains mostly positive: multiple firms have raised price targets, and the stock carries a Moderate Buy consensus with an average target of $520.32, despite recent insider selling and broader memory-sector volatility.

Sharpepoint LLC trimmed its holdings in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 25.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,328 shares of the data storage provider's stock after selling 6,284 shares during the period. Western Digital makes up 3.0% of Sharpepoint LLC's investment portfolio, making the stock its 8th largest holding. Sharpepoint LLC's holdings in Western Digital were worth $4,958,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cantor Fitzgerald L. P. raised its stake in Western Digital by 399.8% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider's stock worth $3,900,000 after buying an additional 25,987 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in Western Digital in the fourth quarter valued at approximately $2,270,000. NorthCrest Asset Manangement LLC grew its stake in Western Digital by 75.4% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider's stock valued at $1,778,000 after acquiring an additional 4,068 shares during the period. WESPAC Advisors LLC bought a new stake in shares of Western Digital during the fourth quarter valued at approximately $793,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Western Digital by 33.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,122,095 shares of the data storage provider's stock valued at $193,303,000 after acquiring an additional 282,156 shares in the last quarter. Institutional investors own 92.51% of the company's stock.

Insider Activity

In other Western Digital news, insider Vidyadhara K. Gubbi sold 2,475 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the completion of the sale, the insider owned 85,154 shares in the company, valued at approximately $47,366,060.96. This trade represents a 2.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction that occurred 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. This represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 29,322 shares of company stock worth $12,768,550. Corporate insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Melius Research set a $1,050.00 target price on Western Digital and gave the stock a "buy" rating in a report on Monday, June 29th. Jefferies Financial Group set a $575.00 price target on shares of Western Digital in a research note on Tuesday, May 26th. TD Cowen upped their price objective on shares of Western Digital from $325.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Cantor Fitzgerald raised their price objective on shares of Western Digital from $660.00 to $900.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Finally, Fox Advisors cut shares of Western Digital from an "overweight" rating to an "equal weight" rating in a report on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $520.32.

Western Digital News Summary

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

• Positive Sentiment: Some analysts remain constructive on Western Digital, with one report suggesting the stock could still have meaningful upside from current levels thanks to improving memory pricing and AI-driven demand. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here
• Positive Sentiment: Several market commentary pieces argue that Western Digital and other memory stocks may look attractive after the recent sell-off because of lower valuations, better supply-demand trends, and ongoing AI-related storage demand. Why You Must Buy These 4 Memory Stocks After the Recent Sell-Off
• Neutral Sentiment: Western Digital’s upcoming earnings preview is drawing attention, but no new company-specific results were reported in these articles. Western Digital's Quarterly Earnings Preview: What You Need to Know
• Negative Sentiment: Shares are being hit by broad profit-taking across memory stocks after a sharp rally this year, with traders locking in gains in Western Digital, Micron, SanDisk, and peers. SK Hynix Drops 5%, SanDisk Slides 6%, Western Digital Slips 4% as Traders Take Profits in Memory Stocks
• Negative Sentiment: Western Digital also fell after CXMT’s reported $10 billion IPO plans raised fears of a stronger new competitor entering the memory market, adding to concerns about future pricing and margins. Western Digital Stock Tumbles as CXMT Targets $10 Billion Shanghai IPO
• Negative Sentiment: Another market wrap noted that Western Digital was down sharply as the broader chip selloff weighed on the memory sector. Western Digital (WDC) Stock Dips While Market Gains: Key Facts

Western Digital Trading Down 8.8%

Shares of NASDAQ:WDC opened at $513.84 on Thursday. The stock's fifty day simple moving average is $560.89 and its two-hundred day simple moving average is $381.93. Western Digital Corporation has a 1-year low of $65.79 and a 1-year high of $799.87. The stock has a market cap of $177.11 billion, a PE ratio of 30.68 and a beta of 2.11.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business's revenue was up 45.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, sell-side analysts forecast that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Friday, June 5th. This is a positive change from Western Digital's previous quarterly dividend of $0.12. Western Digital's payout ratio is currently 3.58%.

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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