III Capital Management Purchases Shares of 5,000 Western Digital Corporation $WDC

III Capital Management acquired a new position in shares of Western Digital Corporation (NASDAQ:WDC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,000 shares of the data storage provider’s stock, valued at approximately $3,194,000. Western Digital makes up about 0.8% of III Capital Management’s investment portfolio, making the stock its 14th biggest holding.

A number of other large investors have also modified their holdings of WDC. Handelsbanken Fonder AB lifted its stake in Western Digital by 71.4% during the second quarter. Handelsbanken Fonder AB now owns 230,578 shares of the data storage provider’s stock worth $147,275,000 after purchasing an additional 96,078 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Western Digital by 33.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,122,095 shares of the data storage provider’s stock worth $193,303,000 after buying an additional 282,156 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of Western Digital during the 4th quarter worth approximately $20,889,000. World Investment Advisors boosted its stake in Western Digital by 145.8% in the 4th quarter. World Investment Advisors now owns 5,950 shares of the data storage provider’s stock valued at $1,025,000 after buying an additional 3,529 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in Western Digital by 62.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 342,516 shares of the data storage provider’s stock valued at $59,040,000 after acquiring an additional 131,247 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Bruce E. Kiddoo sold 750 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $2,062,813.56. This represents a 16.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the transaction, the chief executive officer owned 575,966 shares of the company’s stock, valued at approximately $256,287,591.02. This represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,384 shares of company stock valued at $11,753,463 in the last three months. 0.18% of the stock is currently owned by company insiders.

Western Digital Stock Up 3.5%

Shares of WDC stock opened at $450.75 on Wednesday. The firm has a market cap of $155.36 billion, a price-to-earnings ratio of 18.62 and a beta of 2.14. Western Digital Corporation has a 12 month low of $77.90 and a 12 month high of $799.87. The stock has a 50-day moving average price of $543.27 and a 200 day moving average price of $436.75.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $0.25. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The company’s revenue was up 43.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 EPS. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Sell-side analysts predict that Western Digital Corporation will post 19.65 earnings per share for the current fiscal year.

Western Digital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital’s dividend payout ratio (DPR) is currently 2.48%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WDC. Wall Street Zen lowered shares of Western Digital from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. Barclays lifted their price objective on Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. UBS Group decreased their target price on Western Digital from $560.00 to $525.00 and set a “neutral” rating on the stock in a report on Thursday, August 6th. Citigroup cut their price target on Western Digital from $800.00 to $740.00 and set a “buy” rating for the company in a report on Friday, August 7th. Finally, Evercore reiterated an “outperform” rating and set a $575.00 price target on shares of Western Digital in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $534.56.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Analysts remain bullish on Western Digital’s growth outlook. Recent quarterly results exceeded expectations, with EPS of $3.56 and revenue of $3.75 billion, up 43.8% year over year. Fiscal 2027 catalysts include rising hyperscale demand, improving margins, 40TB drive launches and HAMR technology. Prediction: This Memory Stock Will Soar 165% in 3 Years
• Positive Sentiment: Western Digital was highlighted as a top momentum and growth stock, with commentary pointing to strong earnings trends, AI-driven storage demand, cash generation and a potential memory shortage. Brokerages collectively maintain a “Moderate Buy” rating, with a consensus target price above the current trading level. Western Digital Is a Top-Ranked Growth Stock
• Neutral Sentiment: Western Digital will present at Citi’s 2026 Global TMT Conference on September 9. The event may provide updates on demand, pricing and its product ramp, but the announcement included no new guidance. WD to Participate in Upcoming Investor Conference
• Neutral Sentiment: Insider Cynthia Tregillis sold 919 shares in two transactions under a pre-arranged Rule 10b5-1 plan. The sales reduced her holdings only marginally and are unlikely to materially change the investment case. SEC insider transaction filing
• Negative Sentiment: Profit-taking and sector rotation ahead of Nvidia’s earnings report have pressured high-flying AI, memory and semiconductor stocks, including WDC. Investors are also monitoring valuation risk, cloud-customer concentration and execution requirements for upcoming products. Memory and Semiconductor Stocks Fall Ahead of Nvidia Earnings
• Negative Sentiment: Reports that Apple could source memory chips from Chinese suppliers have raised concerns about competition and pricing throughout the memory industry. A discounted 8TB WD My Book drive on Amazon is consumer-oriented news with little direct effect on WDC’s investment outlook. WD 8TB My Book External Hard Drive Price Cut

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.