3,103 Western Digital Corporation $WDC Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Western Digital Corporation (NASDAQ:WDC) by 4.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 76,193 shares of the data storage provider’s stock after purchasing an additional 3,103 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Western Digital were worth $34,627,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC lifted its position in shares of Western Digital by 9.2% in the 3rd quarter. CWA Asset Management Group LLC now owns 27,011 shares of the data storage provider’s stock worth $12,275,000 after purchasing an additional 2,281 shares during the period. Fairvoy Private Wealth LLC boosted its stake in shares of Western Digital by 15.4% in the 3rd quarter. Fairvoy Private Wealth LLC now owns 10,135 shares of the data storage provider’s stock valued at $4,606,000 after purchasing an additional 1,349 shares during the last quarter. Kercheville Advisors LLC boosted its stake in shares of Western Digital by 100.0% in the 3rd quarter. Kercheville Advisors LLC now owns 1,600 shares of the data storage provider’s stock valued at $727,000 after purchasing an additional 800 shares during the last quarter. New Wave Wealth Advisors LLC increased its position in shares of Western Digital by 6.3% during the third quarter. New Wave Wealth Advisors LLC now owns 3,598 shares of the data storage provider’s stock worth $1,635,000 after buying an additional 214 shares during the period. Finally, Kaufman Rossin Wealth LLC increased its position in shares of Western Digital by 10.8% during the third quarter. Kaufman Rossin Wealth LLC now owns 1,080 shares of the data storage provider’s stock worth $491,000 after buying an additional 105 shares during the period. Institutional investors own 92.51% of the company’s stock.

Insider Activity at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the sale, the chief executive officer directly owned 575,966 shares in the company, valued at approximately $256,287,591.02. The trade was a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $451.20, for a total value of $194,918.40. Following the sale, the insider directly owned 111,030 shares in the company, valued at $50,096,736. This trade represents a 0.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 24,629 shares of company stock worth $11,033,404. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on WDC shares. UBS Group dropped their price target on Western Digital from $525.00 to $470.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th. Weiss Ratings lowered shares of Western Digital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, October 13th. Robert W. Baird set a $630.00 price target on shares of Western Digital in a research 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 research note on Friday, August 7th. Finally, Wall Street Zen upgraded Western Digital from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $608.26.

Western Digital Stock Performance

WDC stock opened at $352.21 on Tuesday. The stock has a fifty day moving average of $441.12 and a 200-day moving average of $478.99. Western Digital Corporation has a fifty-two week low of $117.23 and a fifty-two week high of $799.87. The company has a market capitalization of $131.84 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.41 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last issued its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.25. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.70 billion. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The company’s quarterly revenue was up 43.8% on a year-over-year basis. During the same quarter last year, the business earned $1.66 earnings per share. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. Equities analysts predict that Western Digital Corporation will post 19.65 EPS for the current year.

Western Digital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Tuesday, September 8th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Tuesday, September 8th. Western Digital’s dividend payout ratio is presently 2.48%.

More Western Digital News

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

• Positive Sentiment: Western Digital was among the leading S&P 500 gainers as AI-related stocks rebounded. The recovery followed a sharp decline the previous week and reflected renewed buying interest in data-storage companies. Sandisk, Datadog, Amazon Lead S&P 500 As AI Stocks Rebound
• Positive Sentiment: Analyst sentiment provided another lift, with Wall Street Zen upgrading Western Digital to “Strong-Buy.” A separate analysis also presented the company as a potential value entry with substantial exposure to AI-driven storage demand. Wall Street Zen Upgrades Western Digital to Strong-Buy
• Positive Sentiment: Western Digital is being highlighted as an AI data-center beneficiary, since expanding AI workloads require significant storage capacity. Analysts cited in market coverage see sizable upside for selected AI-related technology stocks, including WDC. These 3 AI Tech Stocks Offer 80%+ Upside, According to Analysts
• Neutral Sentiment: Western Digital is scheduled to report fiscal first-quarter results late Thursday. With technology earnings viewed as an important test of whether AI spending remains durable, the report could become the next major catalyst for the stock. This Week’s Tech Earnings Could Be a Validation Moment for the AI Trade
• Negative Sentiment: Despite the rebound, WDC remains below its key moving averages after its steep previous-week selloff. Investors are also monitoring weakness and volatility across global memory and chip stocks ahead of related earnings reports, which could pressure storage-sector valuations. Chip Investors Watch Out: China’s CXMT Plunges Despite Record Forecast

About Western Digital

Western Digital Corporation (NASDAQ: WDC) is a data storage technology company that develops and manufactures hard disk drives (HDDs) and related storage solutions. Its products are used in data centers, cloud infrastructure, enterprise systems, personal computers, gaming platforms and external storage devices.

The company offers HDD-based products for business and consumer applications, including high-capacity drives designed for hyperscale and cloud data centers, enterprise storage environments, network-attached storage systems and personal computing.