Western Digital Corporation $WDC Shares Purchased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC increased its Western Digital stake by 978.7% in the third quarter, owning 10,000 shares valued at approximately $4.55 million. Institutional investors and hedge funds collectively own 92.51% of WDC.
• Western Digital reported quarterly revenue of $4.38 billion and EPS of $4.64, exceeding analyst expectations, with revenue up 55.5% year over year. The company also raised its quarterly dividend to $0.175 per share, or $0.70 annualized.
• Insiders sold 25,436 shares worth $11.34 million over the past three months, while analysts maintain a generally positive outlook with a “Moderate Buy” consensus and an average price target of $591.04.

International Assets Investment Management LLC grew its stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 978.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,000 shares of the data storage provider's stock after buying an additional 9,073 shares during the period. International Assets Investment Management LLC's holdings in Western Digital were worth $4,545,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of WDC. Dogwood Wealth Management LLC raised its position in shares of Western Digital by 28.6% in the 2nd quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider's stock valued at $57,000 after acquiring an additional 20 shares during the period. Legacy Wealth Asset Management LLC grew its holdings in Western Digital by 1.0% during the second quarter. Legacy Wealth Asset Management LLC now owns 2,302 shares of the data storage provider's stock valued at $1,470,000 after purchasing an additional 22 shares during the period. Everpar Advisors LLC increased its stake in Western Digital by 1.8% in the second quarter. Everpar Advisors LLC now owns 1,442 shares of the data storage provider's stock valued at $921,000 after purchasing an additional 25 shares in the last quarter. Ares Financial Consulting LLC increased its stake in Western Digital by 45.5% in the second quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider's stock valued at $51,000 after purchasing an additional 25 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its holdings in Western Digital by 2.1% in the second quarter. Dynamic Advisor Solutions LLC now owns 1,390 shares of the data storage provider's stock worth $888,000 after purchasing an additional 28 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Western Digital

In related news, insider Cynthia L. Tregillis sold 1,007 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $478.36, for a total transaction of $481,708.52. Following the completion of the transaction, the insider directly owned 112,155 shares in the company, valued at approximately $53,650,465.80. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 1,795 shares of Western Digital stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $459.87, for a total value of $825,466.65. Following the completion of the sale, the insider directly owned 80,571 shares in the company, valued at approximately $37,052,185.77. This represents a 2.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 25,436 shares of company stock valued at $11,340,064 over the last three months. Company insiders own 0.20% of the company's stock.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $366.11 on Monday. The firm has a market cap of $137.04 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.29 and a beta of 2.27. Western Digital Corporation has a 12 month low of $132.43 and a 12 month high of $799.87. The company's fifty day simple moving average is $421.46 and its 200 day simple moving average is $416.75.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its earnings results on Thursday, October 22nd. The data storage provider reported $4.64 earnings per share for the quarter, topping analysts' consensus estimates of $4.11 by $0.53. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. Western Digital had a net margin of 69.20% and a return on equity of 55.62%. The company's revenue for the quarter was up 55.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.78 EPS. Research analysts expect that Western Digital Corporation will post 23.62 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 Thursday, December 17th. Stockholders of record on Friday, December 4th will be issued a $0.1750 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.2%. This is a positive change from Western Digital's previous quarterly dividend of $0.15. The ex-dividend date is Friday, December 4th. Western Digital's dividend payout ratio is presently 2.33%.

Key Headlines Impacting Western Digital

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

• Positive Sentiment: Western Digital reported fiscal first-quarter 2027 revenue of $4.38 billion, non-GAAP EPS of $4.64 and free cash flow of $1.38 billion, exceeding expectations. Management also forecast approximately $5.1 billion in fiscal second-quarter revenue and $5.80 in non-GAAP EPS, signaling continued strength in AI-related data-center storage demand. Western Digital slides as strong results fail to calm spending and sector worries
• Positive Sentiment: Analyst targets remain well above the current trading level, with Quiver Quantitative citing a six-month median target of $650. Several analysts view Western Digital as a major beneficiary of AI infrastructure expansion and rising demand for high-capacity nearline hard drives. Western Digital selloff and analyst targets
• Neutral Sentiment: Western Digital and Seagate are both benefiting from AI data-center spending. However, comparisons favor Seagate on some metrics, including return on equity, valuation and free-cash-flow generation, potentially affecting investor preference within the storage group. Seagate versus Western Digital
• Negative Sentiment: Investors are questioning whether AI infrastructure spending and lofty storage-sector valuations can remain sustainable. A sharp decline in Sandisk and weakness across memory and semiconductor stocks amplified pressure on WDC, even after Sandisk delivered strong results and raised guidance. Memory-sector selloff
• Negative Sentiment: Quarterly capital spending of $227 million, continued buybacks and capacity and technology-transition needs have raised concerns about cash demands and future returns. Profit-taking after WDC’s substantial earlier advance may also be contributing to the decline. Quiver also reports 110 insider sales and no insider purchases over the past six months, an additional sentiment headwind. Western Digital spending and insider activity

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WDC. Wall Street Zen cut shares of Western Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday. BNP Paribas Exane upped their price objective on shares of Western Digital from $660.00 to $700.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Wedbush raised their price objective on Western Digital from $540.00 to $650.00 and gave the stock an "outperform" rating in a research note on Monday, July 27th. Zacks Research downgraded Western Digital from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Finally, Sanford C. Bernstein lifted their target price on Western Digital from $590.00 to $770.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Western Digital presently has an average rating of "Moderate Buy" and an average target price of $591.04.

About Western Digital

Western Digital Corporation NASDAQ: WDC is a data storage technology company that develops and manufactures hard disk drives (HDDs) and related storage solutions. Its products are used in data centers, cloud infrastructure, enterprise systems, personal computers, gaming platforms and external storage devices.

The company offers HDD-based products for business and consumer applications, including high-capacity drives designed for hyperscale and cloud data centers, enterprise storage environments, network-attached storage systems and personal computing.

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