The Manufacturers Life Insurance Company bought a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 189,249 shares of the data storage provider's stock, valued at approximately $120,877,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Western Digital as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Western Digital in the fourth quarter valued at approximately $788,729,000. Northern Trust Corp lifted its stake in shares of Western Digital by 11.2% in the third quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider's stock worth $456,884,000 after acquiring an additional 384,103 shares during the period. Soroban Capital Partners LP boosted its stake in shares of Western Digital by 1,926.3% in the 2nd quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider's stock valued at $195,882,000 after purchasing an additional 2,910,062 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Western Digital by 70.4% in the fourth quarter. AQR Capital Management LLC now owns 2,972,703 shares of the data storage provider's stock valued at $512,107,000 after buying an additional 1,228,661 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Western Digital by 6.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,809,409 shares of the data storage provider's stock valued at $483,977,000 after purchasing an additional 159,167 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
WDC has been the topic of several research analyst reports. Robert W. Baird set a $630.00 target price on shares of Western Digital in a research note on Thursday, August 6th. Summit Insights cut Western Digital from a "buy" rating to a "hold" rating in a research report on Thursday, August 6th. Bank of America upped their price objective on shares of Western Digital from $610.00 to $732.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Melius Research set a $1,050.00 price objective on Western Digital and gave the stock a "buy" rating in a research report on Monday, June 29th. Finally, Morgan Stanley reissued an "overweight" rating and set a $676.00 target price on shares of Western Digital in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $534.56.
Get Our Latest Analysis on Western Digital
Insider Activity at Western Digital
In related news, Director Bruce E. Kiddoo sold 750 shares of the firm's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the transaction, the director directly owned 3,903 shares of the company's stock, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cynthia L. Tregillis sold 808 shares of Western Digital stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total transaction of $427,941.04. Following the transaction, the insider directly owned 114,539 shares in the company, valued at $60,663,290.57. This trade represents a 0.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,384 shares of company stock worth $11,753,463 over the last quarter. 0.18% of the stock is currently owned by corporate insiders.
Western Digital Stock Up 3.5%
Shares of NASDAQ WDC opened at $450.75 on Wednesday. The business has a 50-day simple moving average of $543.27 and a two-hundred day simple moving average of $436.75. The company has a market cap of $155.36 billion, a P/E ratio of 18.62 and a beta of 2.14. Western Digital Corporation has a 52 week low of $77.90 and a 52 week high of $799.87.
Western Digital (NASDAQ:WDC - Get Free Report) last posted its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share for the quarter, topping analysts' consensus estimates of $3.31 by $0.25. The business had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.70 billion. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. Western Digital's revenue was up 43.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.66 EPS. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Equities research analysts anticipate that Western Digital Corporation will post 19.65 EPS for the current year.
Western Digital Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, September 8th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital's dividend payout ratio is 2.48%.
Western Digital News Summary
Here are the key news stories impacting Western Digital this week:
- Positive Sentiment: Analysts remain bullish on Western Digital’s growth outlook. Recent quarterly results exceeded expectations, with EPS of $3.56 and revenue of $3.75 billion, up 43.8% year over year. Fiscal 2027 catalysts include rising hyperscale demand, improving margins, 40TB drive launches and HAMR technology. Prediction: This Memory Stock Will Soar 165% in 3 Years
- Positive Sentiment: Western Digital was highlighted as a top momentum and growth stock, with commentary pointing to strong earnings trends, AI-driven storage demand, cash generation and a potential memory shortage. Brokerages collectively maintain a “Moderate Buy” rating, with a consensus target price above the current trading level. Western Digital Is a Top-Ranked Growth Stock
- Neutral Sentiment: Western Digital will present at Citi’s 2026 Global TMT Conference on September 9. The event may provide updates on demand, pricing and its product ramp, but the announcement included no new guidance. WD to Participate in Upcoming Investor Conference
- Neutral Sentiment: Insider Cynthia Tregillis sold 919 shares in two transactions under a pre-arranged Rule 10b5-1 plan. The sales reduced her holdings only marginally and are unlikely to materially change the investment case. SEC insider transaction filing
- Negative Sentiment: Profit-taking and sector rotation ahead of Nvidia’s earnings report have pressured high-flying AI, memory and semiconductor stocks, including WDC. Investors are also monitoring valuation risk, cloud-customer concentration and execution requirements for upcoming products. Memory and Semiconductor Stocks Fall Ahead of Nvidia Earnings
- Negative Sentiment: Reports that Apple could source memory chips from Chinese suppliers have raised concerns about competition and pricing throughout the memory industry. A discounted 8TB WD My Book drive on Amazon is consumer-oriented news with little direct effect on WDC’s investment outlook. WD 8TB My Book External Hard Drive Price Cut
Western Digital Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Corporation (NASDAQ:WDC - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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