Western Digital Corporation $WDC Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB decreased its stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 847,047 shares of the data storage provider's stock after selling 3,800 shares during the quarter. Western Digital accounts for about 2.3% of AMF Tjanstepension AB's investment portfolio, making the stock its 11th biggest position. AMF Tjanstepension AB owned about 0.23% of Western Digital worth $384,949,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Handelsbanken Fonder AB increased its holdings in Western Digital by 71.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 230,578 shares of the data storage provider's stock valued at $147,275,000 after buying an additional 96,078 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in shares of Western Digital in the 2nd quarter valued at $19,694,000. NewEdge Wealth LLC acquired a new position in shares of Western Digital in the 2nd quarter valued at $14,466,000. OneAscent Financial Services LLC bought a new position in shares of Western Digital during the 2nd quarter worth about $1,599,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of Western Digital during the 2nd quarter worth about $8,307,000. Institutional investors and hedge funds own 92.51% of the company's stock.

Key Western Digital News

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

• Positive Sentiment: Western Digital reported fiscal Q1 2027 adjusted earnings of $4.64 per share, above the roughly $4.09–$4.11 consensus, while revenue reached $4.38 billion, exceeding expectations of approximately $4.14 billion. Revenue increased 55% year over year, supported by strong data-center storage demand and improved pricing. Western Digital Q1 earnings and revenues beat estimates
• Positive Sentiment: Management issued strong fiscal Q2 guidance, forecasting revenue of about $5.1 billion and adjusted EPS of $5.80, plus or minus $0.20. Gross margins are expected to approach 60%, reinforcing the case that tight hard-drive supply and higher-capacity products are supporting pricing power. Western Digital surprises with strong results
• Positive Sentiment: Western Digital generated approximately $1.38 billion in free cash flow and raised its quarterly dividend by 17% to $0.175 per share. The results and long-term AI and cloud storage demand provide fundamental support for the stock, although the market has recently treated WDC like a semiconductor and memory company. Western Digital Q1 revenue climbs 55 percent
• Neutral Sentiment: Analysts remain broadly constructive, with Bank of America raising its price target to $800 before the report. However, expectations are high after WDC’s substantial prior rally, making a strong headline beat insufficient if investors remain concerned about valuation or future growth.
• Negative Sentiment: The initial positive reaction faded as selling spread across AI, memory and storage stocks. Reports also highlighted increased inventory, while investors remain concerned about hyperscaler capital spending, potential supply growth, technology transitions such as HAMR, and whether current demand can persist.
• Negative Sentiment: Insider selling is an additional sentiment overhang: Cynthia Tregillis sold 807 shares for approximately $306,660 under a pre-arranged Rule 10b5-1 plan. The transaction was small relative to her remaining holdings and does not necessarily signal a change in business outlook. SEC insider transaction filing

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $354.19 on Friday. Western Digital Corporation has a 52-week low of $121.71 and a 52-week high of $799.87. The business has a fifty day moving average of $435.48 and a two-hundred day moving average of $480.46. The stock has a market cap of $132.58 billion, a PE ratio of 14.63, a PEG ratio of 1.60 and a beta of 2.11.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its earnings results on Thursday, October 22nd. The data storage provider reported $4.64 earnings per share for the quarter, topping the consensus estimate of $4.11 by $0.53. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The firm's quarterly revenue was up 55.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.78 EPS. Analysts predict that Western Digital Corporation will post 19.69 earnings per share for the current year.

Western Digital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th were given a $0.15 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $0.60 dividend on an annualized basis and a yield of 0.2%. Western Digital's payout ratio is 2.48%.

Wall Street Analyst Weigh In

WDC has been the topic of several recent research reports. Melius Research set a $1,050.00 target price on shares of Western Digital and gave the company a "buy" rating in a research report on Monday, June 29th. Morgan Stanley dropped their price target on shares of Western Digital from $676.00 to $643.00 and set an "overweight" rating for the company in a research report on Tuesday. BNP Paribas Exane increased their price target on shares of Western Digital from $660.00 to $700.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. The Goldman Sachs Group restated a "neutral" rating and set a $615.00 price target on shares of Western Digital in a research note on Thursday. Finally, Wall Street Zen raised Western Digital from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 17th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $609.56.

Insider Buying and Selling at Western Digital

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the sale, the chief executive officer directly owned 575,966 shares of the company's stock, valued at approximately $256,287,591.02. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara Gubbi sold 1,795 shares of the firm's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $459.87, for a total transaction of $825,466.65. Following the sale, the insider directly owned 80,571 shares of the company's stock, valued at approximately $37,052,185.77. The trade was a 2.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,436 shares of company stock worth $11,340,064 over the last ninety days. Corporate insiders own 0.20% of the company's stock.

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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