Western Digital Corporation $WDC Shares Sold by Parnassus Investments LLC

Key Points

• Parnassus Investments LLC cut its Western Digital stake by 41.8% in the fourth quarter, selling 375,363 shares and leaving it with 523,497 shares worth about $90.2 million.
• Western Digital reported strong quarterly results, beating EPS and revenue estimates, with revenue up 45.5% year over year and Q4 2026 guidance of $3.10–$3.40 EPS.
• The company raised its quarterly dividend to $0.15 per share from $0.13, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $433.29.

Parnassus Investments LLC trimmed its position in Western Digital Corporation (NASDAQ:WDC - Free Report) by 41.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 523,497 shares of the data storage provider's stock after selling 375,363 shares during the quarter. Parnassus Investments LLC owned about 0.15% of Western Digital worth $90,183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Quadcap Wealth Management LLC grew its holdings in shares of Western Digital by 2.1% during the fourth quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider's stock worth $346,000 after buying an additional 41 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its holdings in shares of Western Digital by 2.6% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider's stock worth $341,000 after buying an additional 51 shares in the last quarter. Bogart Wealth LLC grew its holdings in shares of Western Digital by 19.4% during the fourth quarter. Bogart Wealth LLC now owns 369 shares of the data storage provider's stock worth $64,000 after buying an additional 60 shares in the last quarter. CYBER HORNET ETFs LLC grew its holdings in shares of Western Digital by 7.2% during the fourth quarter. CYBER HORNET ETFs LLC now owns 889 shares of the data storage provider's stock worth $153,000 after buying an additional 60 shares in the last quarter. Finally, Moors & Cabot Inc. grew its holdings in shares of Western Digital by 3.6% during the fourth quarter. Moors & Cabot Inc. now owns 2,113 shares of the data storage provider's stock worth $364,000 after buying an additional 73 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Trading Up 8.0%

NASDAQ WDC opened at $529.29 on Friday. The company's fifty day simple moving average is $441.92 and its 200-day simple moving average is $306.11. Western Digital Corporation has a 52 week low of $54.60 and a 52 week high of $602.54. The stock has a market cap of $182.44 billion, a P/E ratio of 31.60 and a beta of 2.13.

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, topping analysts' consensus estimates of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business had revenue of $3.34 billion for the quarter, compared to analysts' expectations of $3.25 billion. During the same period in the previous year, the company posted $1.36 earnings per share. The business's revenue for the quarter 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. On average, research analysts expect that Western Digital Corporation will post 9.57 EPS for the current fiscal year.

Western Digital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be issued a $0.15 dividend. This is a boost from Western Digital's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, June 5th. Western Digital's dividend payout ratio is currently 3.58%.

Insider Activity at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the sale, the insider directly owned 85,154 shares of the company's stock, valued at $47,366,060.96. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce E. Kiddoo sold 750 shares of the company's stock in a transaction 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 completion of the sale, the director directly owned 3,903 shares in the company, valued at $2,062,813.56. This represents a 16.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 29,322 shares of company stock valued at $12,768,550. Insiders own 0.18% of the company's stock.

Trending Headlines about Western Digital

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

• Positive Sentiment: Western Digital and related memory stocks rebounded as investors rotated back into the group following SK Hynix’s capacity plan, which helped sentiment across the storage space. SanDisk Jumps 14%, Western Digital Climbs 6% as Memory Stocks Rebound on SK Hynix’s Capacity Plan
• Positive Sentiment: Analysts remain constructive on WDC, with recent price target increases from Mizuho and Citi reinforcing expectations for continued AI-driven storage demand and stronger earnings estimates. Mizuho and Citi Raise Western Digital (WDC) Price Targets
• Positive Sentiment: Western Digital’s stock has also benefited from ongoing investor optimism around AI storage demand, pricing gains, and its more focused HDD-centric business mix. Western Digital Stock Skyrockets 185% YTD: Is More Growth on the Horizon?
• Neutral Sentiment: Western Digital announced a privately negotiated share exchange involving SanDisk investors, which may affect the company’s capital structure but is not clearly a direct earnings driver yet. Western Digital Announces Sandisk Share Exchange With Investors
• Neutral Sentiment: Recent broker commentary has kept WDC at a “Moderate Buy,” supporting the stock but largely confirming already positive sentiment rather than adding a new catalyst. Western Digital Corporation Receives Consensus Rating of Moderate Buy from Brokerages

Analyst Ratings Changes

A number of brokerages have recently commented on WDC. Jefferies Financial Group set a $575.00 price target on shares of Western Digital in a report on Tuesday, May 26th. Robert W. Baird lifted their price target on shares of Western Digital from $310.00 to $450.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Zacks Research upgraded shares of Western Digital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 6th. Rosenblatt Securities boosted their target price on shares of Western Digital from $340.00 to $500.00 and gave the company a "buy" rating in a report on Friday, May 1st. Finally, Evercore reaffirmed an "outperform" rating and set a $575.00 price target on shares of Western Digital in a research report on Tuesday, May 26th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $433.29.

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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