Western Digital Corporation $WDC Stock Position Trimmed by Lombard Odier Asset Management Switzerland SA

Lombard Odier Asset Management Switzerland SA decreased its position in Western Digital Corporation (NASDAQ:WDC - Free Report) by 17.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,129 shares of the data storage provider's stock after selling 7,343 shares during the period. Lombard Odier Asset Management Switzerland SA's holdings in Western Digital were worth $5,879,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Rakuten Securities Inc. increased its position in Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 407 shares during the period. Avion Wealth increased its position in Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider's stock valued at $31,000 after acquiring an additional 113 shares during the period. Swiss RE Ltd. acquired a new stake in Western Digital in the 4th quarter valued at approximately $32,000. BOKF NA increased its position in Western Digital by 6,700.0% in the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider's stock valued at $33,000 after acquiring an additional 268 shares during the period. Finally, JPL Wealth Management LLC acquired a new stake in Western Digital in the 3rd quarter valued at approximately $33,000. Institutional investors own 92.51% of the company's stock.

Insider Transactions at Western Digital

In related 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of Western Digital 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 completion of the sale, the director owned 3,903 shares of the company's stock, valued at $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 29,322 shares of company stock worth $12,768,550. 0.18% of the stock is owned by corporate insiders.

Key Headlines Impacting Western Digital

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

• Positive Sentiment: Morgan Stanley raised its outlook on Western Digital and boosted its price target, adding to the bullish case that AI data-center growth is driving stronger-than-expected storage demand. Western Digital Stock Just Hit a New All-Time High. Here's Why.
• Positive Sentiment: Multiple reports say WDC is benefiting from a broader re-rating of AI storage stocks, with investors focused on tight hard-disk supply, sold-out inventory, and higher pricing power. Western Digital stock jumps as AI trade reignites
• Positive Sentiment: Media coverage highlighted a hyperscaler multiyear commitment to Western Digital, reinforcing confidence that demand from large cloud customers remains robust. Hyperscaler’s Multiyear Commitment with Western Digital (WDC) Highlights Robust Demand
• Neutral Sentiment: Investors are also watching June 22 for the planned SanDisk-related swap, which could create another event-driven trading catalyst for WDC. Dear Western Digital Stock Fans, Mark Your Calendars for June 22
• Negative Sentiment: One commentary piece argued the stock may be due for a near-term pullback after its huge run-up this year, suggesting valuation and momentum risks could cap gains in the short term. Western Digital stock looks ripe for a near-term pullback: find out more

Western Digital Trading Up 4.2%

NASDAQ:WDC opened at $681.08 on Wednesday. The business's fifty day moving average price is $462.12 and its 200 day moving average price is $316.21. The firm has a market capitalization of $234.75 billion, a price-to-earnings ratio of 40.66 and a beta of 2.13. Western Digital Corporation has a 1-year low of $57.88 and a 1-year high of $729.92.

Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.33. The company had revenue of $3.34 billion for the quarter, compared to analysts' expectations of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business's revenue for the quarter was up 45.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities analysts forecast that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is a positive change from Western Digital's previous quarterly dividend of $0.13. Western Digital's dividend payout ratio is presently 3.58%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WDC. Bank of America lifted their price target on Western Digital to $495.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Robert W. Baird lifted their price objective on shares of Western Digital from $310.00 to $450.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. TD Cowen increased their target price on shares of Western Digital from $325.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Wall Street Zen upgraded Western Digital from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, Zacks Research raised Western Digital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Western Digital presently has an average rating of "Moderate Buy" and a consensus price target of $450.46.

About Western Digital

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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