Night Squared LP Sells 18,435 Shares of Western Digital Corporation $WDC

Night Squared LP trimmed its position in Western Digital Corporation (NASDAQ:WDC) by 52.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,989 shares of the data storage provider’s stock after selling 18,435 shares during the period. Night Squared LP’s holdings in Western Digital were worth $2,927,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. AustralianSuper Pty Ltd acquired a new stake in Western Digital in the third quarter valued at approximately $34,244,000. Cantor Fitzgerald L. P. boosted its stake in Western Digital by 399.8% in the third quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider’s stock valued at $3,900,000 after acquiring an additional 25,987 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in Western Digital by 75.4% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider’s stock valued at $1,778,000 after acquiring an additional 4,068 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Western Digital in the fourth quarter valued at approximately $2,270,000. Finally, WESPAC Advisors LLC acquired a new stake in Western Digital in the fourth quarter valued at approximately $793,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Trading Up 4.2%

NASDAQ:WDC opened at $681.08 on Wednesday. Western Digital Corporation has a 12 month low of $57.88 and a 12 month high of $729.92. The firm has a fifty day simple moving average of $462.12 and a 200-day simple moving average of $316.21. The company has a market capitalization of $234.75 billion, a P/E ratio of 40.66 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the previous year, the firm 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. Equities analysts forecast that Western Digital Corporation will post 9.6 EPS for the current year.

Western Digital Increases Dividend

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

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

Insider Buying and Selling at Western Digital

In related news, insider Cynthia L. Tregillis sold 432 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the completion of the transaction, the insider owned 116,643 shares of the company’s stock, valued at $63,640,420.80. This trade represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the transaction, the insider directly owned 90,041 shares of the company’s stock, valued at approximately $39,905,270.79. This trade represents a 4.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 29,322 shares of company stock worth $12,768,550. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

WDC has been the subject of several recent analyst reports. Evercore restated an “outperform” rating and issued a $575.00 target price on shares of Western Digital in a research note on Tuesday, May 26th. Zacks Research upgraded shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 15th. Bank of America lifted their price objective on shares of Western Digital to $495.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Western Digital from $530.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $450.46.

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.