Western Digital Corporation $WDC Shares Purchased by Kathmere Capital Management LLC

Key Points

• Kathmere Capital Management increased its Western Digital stake by 72.4% in the first quarter, buying 3,598 more shares and bringing its total holding to 8,568 shares worth about $2.32 million.
• Wall Street remains bullish on WDC, with analysts issuing mostly Buy ratings and an average price target of $493.52, while some firms have raised targets as high as $575.
• Western Digital reported better-than-expected quarterly results, including EPS of $2.72 versus $2.39 expected and revenue of $3.34 billion, and also raised its quarterly dividend from $0.12 to $0.15 per share.

Kathmere Capital Management LLC boosted its position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 72.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,568 shares of the data storage provider's stock after purchasing an additional 3,598 shares during the period. Kathmere Capital Management LLC's holdings in Western Digital were worth $2,318,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WDC. Norges Bank purchased a new stake in shares of Western Digital during the 4th quarter valued at approximately $788,729,000. Northern Trust Corp grew its position in 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. Fred Alger Management LLC grew its position in Western Digital by 4,923.9% in the third quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider's stock worth $409,049,000 after acquiring an additional 3,339,225 shares during the period. Soroban Capital Partners LP increased its stake in Western Digital by 1,926.3% during the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider's stock worth $195,882,000 after acquiring an additional 2,910,062 shares during the last quarter. Finally, AQR Capital Management LLC raised its position 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 purchasing an additional 1,228,661 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WDC shares. Robert W. Baird upped their price target on Western Digital from $310.00 to $450.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Jefferies Financial Group set a $575.00 price objective on shares of Western Digital in a report on Tuesday, May 26th. TD Cowen upped their target price on shares of Western Digital from $325.00 to $500.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Evercore reaffirmed an "outperform" rating and set a $575.00 target price on shares of Western Digital in a research note on Tuesday, May 26th. Finally, Wells Fargo & Company increased their target price on shares of Western Digital from $500.00 to $575.00 and gave the stock an "overweight" rating in a research note on Monday, June 1st. 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 stock has a consensus rating of "Moderate Buy" and an average price target of $493.52.

Western Digital Price Performance

WDC opened at $539.00 on Monday. Western Digital Corporation has a 52 week low of $63.67 and a 52 week high of $799.87. The business has a fifty day simple moving average of $539.71 and a 200-day simple moving average of $360.51. The firm has a market cap of $185.78 billion, a P/E ratio of 32.18 and a beta of 2.11.

Western Digital (NASDAQ:WDC - Get Free Report) last posted 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 firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the business earned $1.36 EPS. The company'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. Sell-side analysts expect that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

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

Insider Buying and Selling at Western Digital

In related news, Director Bruce E. Kiddoo sold 750 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total transaction of $396,390.00. Following the sale, the director directly owned 3,903 shares of the company's stock, valued at $2,062,813.56. This represents a 16.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the sale, the insider directly owned 85,154 shares in the company, valued at approximately $47,366,060.96. The trade was a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,322 shares of company stock valued at $12,768,550 over the last three months. 0.18% of the stock is currently owned by company insiders.

Trending Headlines about Western Digital

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

• Positive Sentiment: Zacks still lists Western Digital as a top momentum stock for Q3 2026, pointing to continued investor interest in the memory chip theme and potential upside if the sector rebound continues.
• Positive Sentiment: MarketBeat noted that the memory rally may still be intact despite the broader semiconductor sell-off, which could support Western Digital if demand for memory chips remains strong.
• Positive Sentiment: A review of WD Red Plus 4TB highlighted the product as a reliable NAS hard drive, reinforcing Western Digital’s reputation in storage hardware.
• Neutral Sentiment: Western Digital was mentioned alongside other decliners as semiconductor stocks fell on fears that AI-driven chip demand may be cooling, suggesting the stock is being dragged by sector sentiment more than a fresh company-specific catalyst.
• Neutral Sentiment: Analyst-focused articles cited Western Digital’s bullish Wall Street view and strong earnings surprise history, but they did not introduce new information likely to move the stock immediately.
• Neutral Sentiment: Retail promotion news from Flipkart’s GOAT Sale included WD-branded storage devices, which is supportive for brand visibility but likely not material to the stock today.
• Negative Sentiment: The steep decline in Western Digital shares followed a broader semiconductor pullback, with investors apparently rotating out of high-flying AI and chip names.
• Negative Sentiment: Articles about Sandisk’s huge post-spin-off rally and the possibility of a stock split may remind investors of competition and relative performance within the storage space, but they mainly add narrative pressure rather than direct upside for WDC.

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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