Western Digital Corporation $WDC Shares Sold by Andra AP fonden

Key Points

• Andra AP fonden cut its Western Digital stake by 68.6% in the first quarter, selling 178,663 shares and leaving it with 81,737 shares valued at about $22.1 million.
• Western Digital recently reported better-than-expected quarterly results, with EPS of $2.72 and revenue of $3.34 billion, both above analyst estimates. The company also raised its quarterly dividend to $0.15 per share from $0.12.
• Analysts remain broadly positive on the stock, with several firms raising price targets, including Wells Fargo to $730 and Morgan Stanley to $650. MarketBeat says Western Digital has an overall Moderate Buy rating with an average target price of $520.32.

Andra AP fonden reduced its stake in Western Digital Corporation (NASDAQ:WDC - Free Report) by 68.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 81,737 shares of the data storage provider's stock after selling 178,663 shares during the quarter. Andra AP fonden's holdings in Western Digital were worth $22,109,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wilkerson Advisory Group LLC grew its stake in shares of Western Digital by 114.7% in the first quarter. Wilkerson Advisory Group LLC now owns 249 shares of the data storage provider's stock valued at $67,000 after buying an additional 133 shares in the last quarter. MWA Asset Management acquired a new position in Western Digital during the 1st quarter worth about $101,000. Convergence Investment Partners LLC purchased a new position in Western Digital during the 1st quarter valued at about $5,457,000. Legacy Wealth Managment LLC ID grew its position in Western Digital by 105,371.4% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 7,383 shares of the data storage provider's stock valued at $1,997,000 after acquiring an additional 7,376 shares in the last quarter. Finally, Florida Financial Advisors LLC grew its position in Western Digital by 26.4% in the 1st quarter. Florida Financial Advisors LLC now owns 12,455 shares of the data storage provider's stock valued at $3,369,000 after acquiring an additional 2,602 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company's stock.

More Western Digital News

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

• Positive Sentiment: Western Digital is benefiting from a rebound in memory stocks as investors step back in after last week’s selloff, improving sentiment across the semiconductor group. Micron Jumps 5%, SanDisk Rises 6%, Western Digital Climbs 4% as Memory Stocks Rebound With Chips
• Positive Sentiment: Morgan Stanley’s view that the memory-stock selloff created a strong entry point is encouraging dip-buying in Western Digital and other chip names. The Memory Stock Sell-Off Created a ‘Strong Entry Point,' Says Morgan Stanley. Investors Are Buying In.
• Neutral Sentiment: Western Digital Malaysia was recognized for advancing sustainable AI infrastructure, which supports the company’s AI narrative but is unlikely to be the main stock-moving catalyst today. WD Malaysia Recognized for Advancing Sustainable AI Infrastructure

Western Digital Trading Up 2.1%

Western Digital stock opened at $487.42 on Tuesday. The stock has a market cap of $168.00 billion, a P/E ratio of 29.10 and a beta of 2.11. The company has a fifty day simple moving average of $560.32 and a 200-day simple moving average of $388.23. Western Digital Corporation has a 12-month low of $66.04 and a 12-month high of $799.87.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.Western Digital's revenue for the quarter was up 45.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, sell-side analysts forecast that Western Digital Corporation will post 9.61 earnings per share for the current fiscal year.

Western Digital Increases Dividend

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

Insiders Place Their Bets

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the sale, the chief executive officer owned 598,150 shares of the company's stock, valued at approximately $246,342,096. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, Director Bruce E. Kiddoo sold 750 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the sale, the director owned 3,903 shares of the company's stock, valued at $2,062,813.56. This represents a 16.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,959 shares of company stock worth $12,631,666 in the last three months. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

WDC has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Western Digital from $575.00 to $730.00 and gave the stock an "overweight" rating in a research report on Friday, July 10th. UBS Group reissued a "neutral" rating and issued a $560.00 price target on shares of Western Digital in a research report on Monday, July 13th. Weiss Ratings raised Western Digital from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, July 13th. Morgan Stanley increased their price objective on Western Digital from $488.00 to $650.00 and gave the company an "overweight" rating in a research note on Monday, June 15th. Finally, Susquehanna lifted their target price on Western Digital from $360.00 to $500.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Western Digital presently has an average rating of "Moderate Buy" and an average target price of $520.32.

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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