State of Alaska Department of Revenue Trims Stock Holdings in Western Digital Corporation $WDC

Key Points

• State of Alaska trimmed its stake in Western Digital by 7.0% in Q4, selling 3,255 shares and finishing the quarter with 43,539 shares valued at about $7.50 million.
• Other institutions were net buyers — notably Robeco added 594,003 shares (+75.9%) and Sumitomo Mitsui added 79,418 shares — leaving institutional ownership at roughly 92.51%.
• Brokerages have been raising targets on WDC amid expected AI-driven storage demand (Evercore $378, Citi upgrades), giving a consensus "Moderate Buy" and $288.33 price target while the stock trades near its 12‑month high (~$350) after an earnings beat.

State of Alaska Department of Revenue reduced its stake in Western Digital Corporation (NASDAQ:WDC - Free Report) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,539 shares of the data storage provider's stock after selling 3,255 shares during the quarter. State of Alaska Department of Revenue's holdings in Western Digital were worth $7,499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Burney Co. purchased a new stake in shares of Western Digital in the fourth quarter valued at $251,000. U.S. Capital Wealth Advisors LLC lifted its position in shares of Western Digital by 6.4% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 9,053 shares of the data storage provider's stock valued at $1,560,000 after acquiring an additional 544 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Western Digital by 9.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 887,059 shares of the data storage provider's stock valued at $152,814,000 after acquiring an additional 79,418 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Western Digital by 75.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,376,751 shares of the data storage provider's stock valued at $237,173,000 after acquiring an additional 594,003 shares in the last quarter. Finally, Successful Portfolios LLC purchased a new stake in shares of Western Digital in the fourth quarter valued at $189,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

More Western Digital News

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

• Positive Sentiment: Citi raised its price target and kept a Buy rating for WDC, citing AI-driven data demand that supercharges storage pricing; this analyst lift is helping fuel buying interest. Read More.
• Positive Sentiment: Evercore and other firms recently bumped WDC targets (Evercore to $378), reinforcing the narrative that hard disk drives and NAND are beneficiaries of the structural AI/memory shift. Read More.
• Positive Sentiment: New thematic products — including a DRAM-focused ETF — aim to funnel investor money into memory-chip makers, which should support multiples and demand expectations for WDC as a picks-and-shovels AI play. Read More.
• Positive Sentiment: The SanDisk name (part of the WD franchise) is in the headlines for outperforming peers and even displacing a larger name in the Nasdaq-100, which draws attention to WDC’s consumer/brand strength in NAND. Read More.
• Neutral Sentiment: Western Digital set its Q3 FY2026 earnings release and conference call for April 30 (after-market). Results and guidance will be the next catalyst that could amplify the current move. Read More.
• Neutral Sentiment: Comparative coverage (e.g., Zacks) highlights WDC’s stronger recent gains versus Seagate and notes both opportunities and execution risks — useful context but not an immediate catalyst. Read More.
• Negative Sentiment: Insider selling disclosure: insiders recently sold roughly US$16M of stock, a datapoint some investors watch as a caution on timing or valuation. Read More.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WDC. Weiss Ratings upgraded Western Digital from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 2nd. The Goldman Sachs Group set a $250.00 price objective on Western Digital in a research report on Tuesday, February 3rd. Wall Street Zen downgraded Western Digital from a "buy" rating to a "hold" rating in a research report on Sunday. Evercore reiterated an "outperform" rating and set a $378.00 target price on shares of Western Digital in a research report on Wednesday, April 8th. Finally, Argus set a $300.00 target price on Western Digital in a research report on Tuesday, February 3rd. Twenty-one equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Western Digital has a consensus rating of "Moderate Buy" and a consensus price target of $288.33.

Western Digital Stock Performance

NASDAQ WDC opened at $350.16 on Tuesday. The business's 50-day moving average price is $285.91 and its 200 day moving average price is $210.28. Western Digital Corporation has a twelve month low of $35.00 and a twelve month high of $351.87. The company has a market capitalization of $118.72 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 0.79 and a beta of 1.77. The company has a current ratio of 1.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.20. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the business posted $1.77 earnings per share. The firm's revenue for the quarter was up 25.2% compared to the same quarter last year. On average, research analysts predict that Western Digital Corporation will post 4.89 earnings per share for the current year.

Western Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Thursday, March 5th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Thursday, March 5th. Western Digital's dividend payout ratio (DPR) is 5.02%.

Insider Transactions at Western Digital

In other news, insider Vidyadhara K. Gubbi sold 10,148 shares of the firm's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $270.31, for a total value of $2,743,105.88. Following the transaction, the insider directly owned 107,794 shares in the company, valued at $29,137,796.14. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cynthia L. Tregillis sold 9,324 shares of the firm's stock in a transaction dated 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 approximately $32,643,630.14. This trade represents a 7.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 92,795 shares of company stock valued at $24,265,884. 0.18% of the stock is owned by company insiders.

About Western Digital

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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