Tranquility Partners LLC Buys New Stake in Western Digital Corporation $WDC

Tranquility Partners LLC purchased a new position in Western Digital Corporation (NASDAQ:WDC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,024 shares of the data storage provider’s stock, valued at approximately $277,000.

A number of other hedge funds also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Western Digital by 7.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock worth $1,698,000 after buying an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Western Digital by 229.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after acquiring an additional 967 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Western Digital in the second quarter worth about $307,000. Cresset Asset Management LLC purchased a new position in Western Digital in the second quarter worth about $292,000. Finally, Federated Hermes Inc. increased its stake in Western Digital by 55.3% during the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock worth $152,000 after acquiring an additional 845 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $670.75 on Wednesday. The firm has a market capitalization of $231.19 billion, a PE ratio of 40.04 and a beta of 2.13. The business has a 50 day simple moving average of $501.56 and a two-hundred day simple moving average of $335.98. Western Digital Corporation has a 1 year low of $60.56 and a 1 year high of $799.87.

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

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were paid a $0.15 dividend. The ex-dividend date was Friday, June 5th. This is a positive change from Western Digital’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Western Digital’s payout ratio is 3.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group restated a “neutral” rating and set a $400.00 price objective on shares of Western Digital in a research report on Friday, May 1st. Weiss Ratings raised Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. increased their price target on Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Wall Street Zen upgraded Western Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $450.46.

Key Headlines Impacting Western Digital

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

• Positive Sentiment: Analysts have remained constructive on Western Digital, with recent price-target increases from firms including JPMorgan and Morgan Stanley, reflecting optimism about earnings power and AI-related storage demand.
• Positive Sentiment: Western Digital’s recent quarterly results beat expectations, with revenue and EPS ahead of estimates and management guiding for continued expansion, which supports the longer-term bull case.
• Neutral Sentiment: Investor attention has stayed high around Western Digital as the stock has rallied strongly this year, keeping it in focus as a leveraged AI-memory play.
• Negative Sentiment: Today’s decline appears tied to a broad selloff in semiconductor and memory names as investors worry about an AI-bubble-style valuation reset and weakness in Asian chip markets.
• Negative Sentiment: Western Digital also faces some near-term share-overhang concerns after disclosed share-exchange transactions involving Sandisk stock, which may have added pressure on the stock.

Insiders Place Their Bets

In other news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction on Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the sale, the chief executive officer directly owned 598,150 shares in the company, 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, insider Cynthia L. Tregillis sold 432 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was 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 in the company, valued at approximately $63,640,420.80. The trade was a 0.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 29,322 shares of company stock valued at $12,768,550 in the last three months. 0.18% of the stock is owned by company insiders.

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.