Western Digital Corporation $WDC Shares Sold by State of Wyoming

State of Wyoming reduced its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 74.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,083 shares of the data storage provider’s stock after selling 12,130 shares during the quarter. State of Wyoming’s holdings in Western Digital were worth $703,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Western Digital in the 4th quarter valued at about $788,729,000. Fred Alger Management LLC lifted its stake in Western Digital by 4,923.9% in the 3rd quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock worth $409,049,000 after purchasing an additional 3,339,225 shares in the last quarter. Soroban Capital Partners LP increased its holdings in shares of Western Digital by 1,926.3% during the 2nd quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after buying an additional 2,910,062 shares during the last quarter. Polar Capital Holdings Plc acquired a new stake in shares of Western Digital during the 3rd quarter worth approximately $221,800,000. Finally, National Pension Service increased its holdings in shares of Western Digital by 267.6% during the 4th quarter. National Pension Service now owns 1,691,659 shares of the data storage provider’s stock worth $291,422,000 after buying an additional 1,231,477 shares during the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital News Summary

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

• Positive Sentiment: Western Digital’s recent Computex 2026 messaging reinforced the idea that AI demand is not just about chips, but about storage and data movement, supporting the stock’s AI-related momentum. AI isn’t just a compute race. It’s a data race – and storage will decide the winners, WD shares
• Positive Sentiment: Citigroup reportedly raised its price target on Western Digital by 37%, which likely boosted investor confidence and helped send shares to fresh highs. Western Digital (WDC) Hits All-Time High as Citi Hikes PT by 37%
• Positive Sentiment: Western Digital also announced a convertible-debt exchange, which investors may view as a cleaner capital structure that gives the company more flexibility for future AI-related moves. Western Digital Restructures Convertible Debt via Equity Exchange
• Positive Sentiment: Commentary continues to frame Western Digital as a beneficiary of the AI storage supercycle, with tighter supply and firm pricing supporting the earnings outlook. How The Western Digital (WDC) Investment Story Is Shifting With AI Storage And New Valuations
• Positive Sentiment: Western Digital’s recent earnings were strong, with revenue and EPS beating estimates, which continues to underpin the rally in the stock. Western Digital stock and company profile
• Neutral Sentiment: The stock also drew attention from a conference presentation and ongoing coverage, but these items did not introduce a clearly new catalyst on their own. Western Digital Corporation (WDC) Presents at 2026 Evercore Global TMT Conference Transcript
• Negative Sentiment: A small insider sale by a company executive may have slightly cooled sentiment, though it was modest relative to the insider’s remaining holdings. SEC filing for insider sale
• Negative Sentiment: Near-term stock weakness may also reflect broad semiconductor-sector pressure after weak AI-chip commentary from peers, which can spill over into storage names like Western Digital. Micron Drops 7% as Broadcom’s Disappointing AI Outlook Triggers a Semiconductor Selloff

Wall Street Analyst Weigh In

Several research firms recently weighed in on WDC. JPMorgan Chase & Co. lifted their target price on shares of Western Digital from $320.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Zacks Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Sanford C. Bernstein raised shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price objective for the company in a research report on Tuesday, March 31st. UBS Group lifted their price objective on shares of Western Digital from $350.00 to $375.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Cantor Fitzgerald boosted their price target on shares of Western Digital to $660.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $424.33.

Western Digital Stock Performance

Western Digital stock opened at $575.50 on Friday. The firm’s 50-day moving average is $417.75 and its 200-day moving average is $293.25. Western Digital Corporation has a 1 year low of $54.22 and a 1 year high of $602.54. The company has a market cap of $198.36 billion, a P/E ratio of 34.36 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.33. The company had revenue of $3.34 billion for 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%. The company’s revenue for the quarter was up 45.5% on a year-over-year basis. During the same period last year, the firm posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, sell-side analysts predict that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 5th. This is a positive change from Western Digital’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.1%. Western Digital’s dividend payout ratio is presently 2.99%.

Insider Buying and Selling at Western Digital

In other news, insider Vidyadhara K. Gubbi sold 4,674 shares of Western Digital 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 transaction, the insider owned 90,041 shares of the company’s stock, valued at $39,905,270.79. The trade was a 4.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction of $396,390.00. Following the completion of the transaction, the director directly owned 3,903 shares in the company, valued at $2,062,813.56. This represents a 16.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 28,890 shares of company stock worth $12,532,851. 0.18% of the stock is currently owned by company insiders.

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.