Western Digital Corporation $WDC Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in Western Digital Corporation (NASDAQ:WDC - Free Report) by 201.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 143,276 shares of the data storage provider's stock after acquiring an additional 95,710 shares during the period. CIBC Asset Management Inc's holdings in Western Digital were worth $24,682,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in WDC. Mccarter Private Wealth Services LLC acquired a new stake in Western Digital in the 4th quarter valued at approximately $207,000. Westpac Banking Corp lifted its stake in Western Digital by 2.1% during the fourth quarter. Westpac Banking Corp now owns 6,258 shares of the data storage provider's stock worth $1,078,000 after purchasing an additional 126 shares in the last quarter. Kesler Norman & Wride LLC acquired a new position in Western Digital during the fourth quarter worth $458,000. Natixis Advisors LLC boosted its position in shares of Western Digital by 2.0% during the fourth quarter. Natixis Advisors LLC now owns 372,984 shares of the data storage provider's stock worth $64,254,000 after buying an additional 7,380 shares during the period. Finally, Root Financial Partners LLC grew its stake in shares of Western Digital by 12.2% in the fourth quarter. Root Financial Partners LLC now owns 1,184 shares of the data storage provider's stock valued at $204,000 after buying an additional 129 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WDC has been the topic of several research analyst reports. Cantor Fitzgerald boosted their price objective on Western Digital to $660.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Wedbush restated an "outperform" rating and set a $325.00 target price on shares of Western Digital in a report on Monday, February 9th. Wall Street Zen raised Western Digital from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Bank of America boosted their price target on shares of Western Digital to $495.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Finally, Susquehanna reissued a "neutral" rating and issued a $285.00 price objective on shares of Western Digital in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $424.33.

Western Digital Price Performance

Shares of NASDAQ WDC opened at $575.50 on Friday. The company has a market cap of $198.36 billion, a price-to-earnings ratio of 34.36 and a beta of 2.13. The stock's 50-day moving average is $417.75 and its two-hundred day moving average is $293.25. Western Digital Corporation has a 1-year low of $54.22 and a 1-year high of $602.54.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) 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 business had revenue of $3.34 billion during the quarter, compared to analysts' expectations of $3.25 billion. During the same quarter last year, the business posted $1.36 EPS. The business's quarterly 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. Equities research analysts anticipate that Western Digital Corporation will post 9.57 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be issued a dividend of $0.15 per share. This is a boost from Western Digital's previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 5th. This represents a $0.60 annualized dividend and a yield of 0.1%. Western Digital's dividend payout ratio (DPR) is presently 2.99%.

Western Digital News Roundup

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

• Positive Sentiment: Western Digital’s recent Computex 2026 messaging reinforced the idea that AI demand is not just about chips, but about storage and data movement, supporting the stock’s AI-related momentum. AI isn’t just a compute race. It’s a data race – and storage will decide the winners, WD shares
• Positive Sentiment: Citigroup reportedly raised its price target on Western Digital by 37%, which likely boosted investor confidence and helped send shares to fresh highs. Western Digital (WDC) Hits All-Time High as Citi Hikes PT by 37%
• Positive Sentiment: Western Digital also announced a convertible-debt exchange, which investors may view as a cleaner capital structure that gives the company more flexibility for future AI-related moves. Western Digital Restructures Convertible Debt via Equity Exchange
• Positive Sentiment: Commentary continues to frame Western Digital as a beneficiary of the AI storage supercycle, with tighter supply and firm pricing supporting the earnings outlook. How The Western Digital (WDC) Investment Story Is Shifting With AI Storage And New Valuations
• Positive Sentiment: Western Digital’s recent earnings were strong, with revenue and EPS beating estimates, which continues to underpin the rally in the stock. Western Digital stock and company profile
• Neutral Sentiment: The stock also drew attention from a conference presentation and ongoing coverage, but these items did not introduce a clearly new catalyst on their own. Western Digital Corporation (WDC) Presents at 2026 Evercore Global TMT Conference Transcript
• Negative Sentiment: A small insider sale by a company executive may have slightly cooled sentiment, though it was modest relative to the insider’s remaining holdings. SEC filing for insider sale
• Negative Sentiment: Near-term stock weakness may also reflect broad semiconductor-sector pressure after weak AI-chip commentary from peers, which can spill over into storage names like Western Digital. Micron Drops 7% as Broadcom's Disappointing AI Outlook Triggers a Semiconductor Selloff

Insider Activity

In other Western Digital news, insider Vidyadhara K. Gubbi sold 4,674 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $443.19, for a total value of $2,071,470.06. Following the sale, the insider directly owned 90,041 shares of the company's stock, valued at approximately $39,905,270.79. This represents a 4.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Cynthia L. Tregillis sold 363 shares of the firm's stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $377.09, for a total transaction of $136,883.67. Following the completion of the sale, the insider owned 120,023 shares in the company, valued at $45,259,473.07. The trade was a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 28,890 shares of company stock worth $12,532,851. Insiders own 0.18% of the company's stock.

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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