Y Intercept Hong Kong Ltd Purchases Shares of 23,649 Western Digital Corporation $WDC

Y Intercept Hong Kong Ltd acquired a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the 1st quarter, Holdings Channel reports. The firm acquired 23,649 shares of the data storage provider’s stock, valued at approximately $6,397,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. GHP Investment Advisors Inc. grew its stake in shares of Western Digital by 9.2% in the 1st quarter. GHP Investment Advisors Inc. now owns 357 shares of the data storage provider’s stock valued at $97,000 after buying an additional 30 shares during the period. Alps Advisors Inc. raised its stake in Western Digital by 0.8% during the 4th quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider’s stock worth $811,000 after buying an additional 37 shares during the period. Quadcap Wealth Management LLC raised its stake in Western Digital by 2.1% during the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock worth $346,000 after buying an additional 41 shares during the period. Moss Adams Wealth Advisors LLC boosted its holdings in Western Digital by 2.6% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider’s stock worth $341,000 after acquiring an additional 51 shares in the last quarter. Finally, Falcon Wealth Planning boosted its holdings in Western Digital by 2.6% in the first quarter. Falcon Wealth Planning now owns 2,170 shares of the data storage provider’s stock worth $587,000 after acquiring an additional 54 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $411.84, for a total value of $8,236,800.00. Following the transaction, the chief executive officer owned 598,150 shares in the company, valued at $246,342,096. The trade was a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the transaction, the director directly owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This represents a 16.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,322 shares of company stock worth $12,768,550 over the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Zacks Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Bank of America boosted their target price on shares of Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Western Digital from $530.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Mizuho raised their price target on shares of Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $400.00 price target on shares of Western Digital in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $493.52.

Key Headlines Impacting Western Digital

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

• Positive Sentiment: Zacks still lists Western Digital as a top momentum stock for Q3 2026, pointing to continued investor interest in the memory chip theme and potential upside if the sector rebound continues.
• Positive Sentiment: MarketBeat noted that the memory rally may still be intact despite the broader semiconductor sell-off, which could support Western Digital if demand for memory chips remains strong.
• Positive Sentiment: A review of WD Red Plus 4TB highlighted the product as a reliable NAS hard drive, reinforcing Western Digital’s reputation in storage hardware.
• Neutral Sentiment: Western Digital was mentioned alongside other decliners as semiconductor stocks fell on fears that AI-driven chip demand may be cooling, suggesting the stock is being dragged by sector sentiment more than a fresh company-specific catalyst.
• Neutral Sentiment: Analyst-focused articles cited Western Digital’s bullish Wall Street view and strong earnings surprise history, but they did not introduce new information likely to move the stock immediately.
• Neutral Sentiment: Retail promotion news from Flipkart’s GOAT Sale included WD-branded storage devices, which is supportive for brand visibility but likely not material to the stock today.
• Negative Sentiment: The steep decline in Western Digital shares followed a broader semiconductor pullback, with investors apparently rotating out of high-flying AI and chip names.
• Negative Sentiment: Articles about Sandisk’s huge post-spin-off rally and the possibility of a stock split may remind investors of competition and relative performance within the storage space, but they mainly add narrative pressure rather than direct upside for WDC.

Western Digital Price Performance

Shares of WDC stock opened at $539.00 on Friday. The firm has a 50-day moving average of $539.71 and a 200-day moving average of $359.19. The company has a market cap of $185.78 billion, a P/E ratio of 32.18 and a beta of 2.11. Western Digital Corporation has a one year low of $63.67 and a one year high of $799.87.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the previous year, the company earned $1.36 earnings per share. The firm’s revenue for the quarter 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. As a group, research analysts expect 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. Shareholders of record on Friday, June 5th were given a dividend of $0.15 per share. 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 payout ratio is 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.