Y Intercept Hong Kong Ltd Makes New Investment in Western Digital Corporation $WDC

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Western Digital during the first quarter, buying 23,649 shares valued at about $6.4 million.
• Western Digital reported better-than-expected quarterly results, with EPS of $2.72 versus $2.39 expected and revenue of $3.34 billion, up 45.5% year over year.
• The company also raised its quarterly dividend to $0.15 from $0.12, while analysts remain broadly bullish with a consensus rating of Moderate Buy and an average target price of $493.52.

Y Intercept Hong Kong Ltd purchased a new position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,649 shares of the data storage provider's stock, valued at approximately $6,397,000.

A number of other large investors also recently modified their holdings of the company. GHP Investment Advisors Inc. increased its holdings in Western Digital by 9.2% in the 1st quarter. GHP Investment Advisors Inc. now owns 357 shares of the data storage provider's stock worth $97,000 after purchasing an additional 30 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of Western Digital by 0.8% during the fourth quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider's stock valued at $811,000 after purchasing an additional 37 shares in the last quarter. Quadcap Wealth Management LLC boosted its stake 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 valued at $346,000 after purchasing 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 purchasing an additional 51 shares during the last quarter. Finally, Falcon Wealth Planning grew its holdings in shares of Western Digital by 2.6% during the first quarter. Falcon Wealth Planning now owns 2,170 shares of the data storage provider's stock worth $587,000 after purchasing an additional 54 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.

Western Digital Stock Performance

NASDAQ:WDC opened at $539.00 on Friday. Western Digital Corporation has a 52 week low of $63.67 and a 52 week high of $799.87. The firm's fifty day moving average is $539.71 and its 200-day moving average is $359.19. 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 announced its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.39 by $0.33. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. Western Digital's quarterly revenue was up 45.5% on a year-over-year basis. During the same quarter last year, the firm earned $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 anticipate that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were given a $0.15 dividend. 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, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director directly owned 3,903 shares in the company, valued at approximately $2,062,813.56. The trade was a 16.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the business's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $443.19, for a total value of $2,071,470.06. Following the completion of the transaction, the insider directly owned 90,041 shares in the company, valued at approximately $39,905,270.79. This trade represents a 4.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,322 shares of company stock valued at $12,768,550 over the last 90 days. 0.18% of the stock is owned by company insiders.

Western Digital News Roundup

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.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Melius Research set a $1,050.00 price objective on shares of Western Digital and gave the company a "buy" rating in a report on Monday, June 29th. TD Cowen boosted their target price on shares of Western Digital from $325.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Mizuho upped their price target on shares of Western Digital from $550.00 to $685.00 and gave the company an "outperform" rating in a research report on Monday, June 8th. Robert W. Baird raised their price target on shares of Western Digital from $310.00 to $450.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company lifted their price target on shares of Western Digital from $500.00 to $575.00 and gave the stock an "overweight" rating in a report on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Western Digital presently has an average rating of "Moderate Buy" and an average target price of $493.52.

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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