PKO Investment Management Joint Stock Co Boosts Stock Position in Western Digital Corporation $WDC

PKO Investment Management Joint Stock Co lifted its stake in Western Digital Corporation (NASDAQ:WDC) by 83.3% in the first quarter, Holdings Channel.com reports. The fund owned 11,000 shares of the data storage provider’s stock after purchasing an additional 5,000 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Western Digital were worth $2,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Rakuten Securities Inc. lifted its holdings in Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 407 shares in the last quarter. Avion Wealth grew its holdings in Western Digital by 163.8% during the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after buying an additional 113 shares in the last quarter. Swiss RE Ltd. bought a new stake in shares of Western Digital during the fourth quarter valued at about $32,000. BOKF NA increased its position in shares of Western Digital by 6,700.0% during the third quarter. BOKF NA now owns 272 shares of the data storage provider’s stock valued at $33,000 after buying an additional 268 shares during the period. Finally, JPL Wealth Management LLC purchased a new stake in shares of Western Digital in the third quarter worth about $33,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 4,674 shares of Western Digital stock in a transaction that occurred 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 sale, the insider directly owned 90,041 shares in the company, valued at $39,905,270.79. The trade was a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce E. Kiddoo sold 750 shares of the company’s stock in a transaction 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 29,322 shares of company stock worth $12,768,550. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WDC shares. Evercore restated an “outperform” rating and issued a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Cantor Fitzgerald upped their target price on shares of Western Digital to $660.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Fox Advisors cut shares of Western Digital from an “overweight” rating to an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Finally, Robert W. Baird boosted their price target on shares of Western Digital from $310.00 to $450.00 and gave the company an “outperform” rating in a research report 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $450.46.

Western Digital News Roundup

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

• Positive Sentiment: Western Digital is benefiting from a broad rally in memory and storage stocks ahead of Micron’s earnings, with investors betting that AI infrastructure demand will keep pricing and shipments strong. Micron and Western Digital Rise 6%, SanDisk Gains 5% as Memory Stocks Rally Into Micron’s Earnings
• Positive Sentiment: JPMorgan recently raised its price target on Western Digital to $650 from $530 and kept an Overweight rating, citing improved earnings expectations. JPMorgan Lifts PT on Western Digital Corporation (WDC)
• Positive Sentiment: Recent coverage highlighted Western Digital as a major AI memory and storage beneficiary, with strong revenue growth and guidance suggesting the trend can continue. Don’t Forget About Western Digital Amid Sandisk Euphoria
• Neutral Sentiment: Western Digital remains a heavily watched stock, with investor attention rising as the AI storage theme keeps drawing traders into the name. Western Digital Corporation (WDC) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: One technical note said the shares are very overbought, which could mean a short-term pullback if momentum cools. Stock Of The Day: When Will Western Digital Reverse?
• Negative Sentiment: Fox Advisors downgraded Western Digital from Overweight to Equal Weight, which may temper some enthusiasm after the recent run-up. The Fly downgrade item
• Negative Sentiment: Western Digital also slipped more than the broader market in the latest session, suggesting some profit-taking after a very strong move. Why Western Digital (WDC) Dipped More Than Broader Market Today

Western Digital Trading Down 1.8%

WDC opened at $732.62 on Tuesday. Western Digital Corporation has a 12 month low of $58.66 and a 12 month high of $799.87. The business’s 50-day moving average price is $495.01 and its 200-day moving average price is $332.35. The company has a market cap of $252.52 billion, a P/E ratio of 43.74 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the firm posted $1.36 earnings per share. The business’s quarterly revenue 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 research analysts forecast that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were given a $0.15 dividend. 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%. This is an increase from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio is currently 3.58%.

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.