Lifestyle Asset Management Inc. Sells 3,155 Shares of Western Digital Corporation $WDC

Lifestyle Asset Management Inc. lowered its holdings in Western Digital Corporation (NASDAQ:WDC) by 16.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,284 shares of the data storage provider’s stock after selling 3,155 shares during the quarter. Lifestyle Asset Management Inc.’s holdings in Western Digital were worth $2,805,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rakuten Securities Inc. grew its stake in Western Digital by 4,070.0% during the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after buying an additional 407 shares during the last quarter. Avion Wealth grew its stake in Western Digital by 163.8% during the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after buying an additional 113 shares during the last quarter. Cornerstone Planning Group LLC grew its stake in Western Digital by 207.0% during the third quarter. Cornerstone Planning Group LLC now owns 264 shares of the data storage provider’s stock worth $32,000 after buying an additional 178 shares during the last quarter. BOKF NA grew its stake in Western Digital by 6,700.0% during the third quarter. BOKF NA now owns 272 shares of the data storage provider’s stock worth $33,000 after buying an additional 268 shares during the last quarter. Finally, JPL Wealth Management LLC bought a new stake in Western Digital during the third quarter worth about $33,000. Institutional investors own 92.51% of the company’s stock.

Key Stories Impacting Western Digital

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

Insider Activity at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the transaction, the chief executive officer directly owned 598,150 shares in the company, valued at approximately $246,342,096. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the company’s 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 transaction, the director owned 3,903 shares in the company, valued at $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. Insiders have sold a total of 28,890 shares of company stock valued at $12,532,851 over the last ninety days. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

WDC has been the topic of several research analyst reports. Mizuho set a $470.00 price objective on shares of Western Digital in a research note on Friday, May 1st. Zacks Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Jefferies Financial Group set a $575.00 price objective on shares of Western Digital in a research note on Tuesday, May 26th. Wedbush reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Western Digital in a research note on Monday, February 9th. Finally, Wall Street Zen raised shares of Western Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $424.33.

Western Digital Trading Down 3.1%

Shares of WDC stock opened at $575.50 on Friday. Western Digital Corporation has a 1 year low of $54.22 and a 1 year high of $602.54. The firm’s 50 day moving average is $417.75 and its 200-day moving average is $293.25. The firm has a market capitalization of $198.36 billion, a price-to-earnings ratio of 34.36 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last announced its 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. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period in the prior year, the business earned $1.36 earnings per share. Western Digital’s quarterly revenue was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities research analysts forecast that Western Digital Corporation will post 9.57 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, June 5th. This is a positive change from Western Digital’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital’s dividend payout ratio (DPR) is currently 2.99%.

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.