Hudson Canyon Capital Management Invests $1.45 Million in Western Digital Corporation $WDC

Hudson Canyon Capital Management acquired a new position in Western Digital Corporation (NASDAQ:WDC) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 5,350 shares of the data storage provider’s stock, valued at approximately $1,447,000.

A number of other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. increased its position in shares of Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 407 shares during the last quarter. Avion Wealth boosted its holdings in shares of Western Digital by 163.8% in 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. Swiss RE Ltd. purchased a new position in shares of Western Digital in the fourth quarter worth approximately $32,000. BOKF NA grew its position in 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 bought a new stake in Western Digital during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insiders Place Their Bets

In other news, insider Vidyadhara K. Gubbi sold 2,475 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $556.24, for a total value of $1,376,694.00. Following the transaction, the insider directly owned 85,154 shares in the company, valued at $47,366,060.96. The trade was a 2.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce E. Kiddoo sold 750 shares of the business’s stock in a transaction dated 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 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,322 shares of company stock valued at $12,768,550 in the last ninety days. Insiders own 0.18% of the company’s stock.

Western Digital Trading Up 1.4%

NASDAQ WDC opened at $563.32 on Wednesday. Western Digital Corporation has a 12 month low of $65.79 and a 12 month high of $799.87. The stock has a market cap of $194.17 billion, a price-to-earnings ratio of 33.63 and a beta of 2.11. The company’s 50 day moving average is $560.28 and its two-hundred day moving average is $379.58.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data 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 firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the prior year, the company posted $1.36 earnings per share. The company’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. Sell-side analysts forecast that Western Digital Corporation will post 9.6 EPS for the current year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Friday, June 5th. This is a boost from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio (DPR) is currently 3.58%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Western Digital from $488.00 to $650.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Sanford C. Bernstein raised shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price objective for the company in a research report on Tuesday, March 31st. UBS Group restated a “neutral” rating and issued a $560.00 price objective on shares of Western Digital in a research note on Monday. Mizuho raised their target price on Western Digital from $550.00 to $685.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, Bank of America lifted their target price on Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Two 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $520.32.

More Western Digital News

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

• Positive Sentiment: Western Digital is benefiting from a rebound in memory and storage stocks after Monday’s sector-wide drop tied to SK Hynix volatility and broader chip-market pressure. SK Hynix ADR Soars 19% as Leveraged ETFs Launch, Lifting Micron, SanDisk, Western Digital
• Positive Sentiment: Several recent analyst notes are bullish on WDC, with commentary citing strong demand, improving pricing, and the possibility of meaningful upside from current levels. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here
• Positive Sentiment: Western Digital’s upcoming earnings report is in focus, and Wall Street is expecting a strong year-over-year profit jump, which could support the stock if results and guidance beat expectations. Western Digital’s Quarterly Earnings Preview: What You Need to Know
• Neutral Sentiment: The company has confirmed it will report fourth-quarter and fiscal 2026 results on August 5, keeping earnings-related speculation elevated in the near term. WD to Announce Fourth Quarter and Fiscal Year 2026 Financial Results on August 5, 2026
• Negative Sentiment: WDC remains sensitive to swings in the AI-memory trade, and the stock was recently hit by a sharp sector pullback sparked by SK Hynix’s weak outlook and broader chip-market jitters. SK Hynix’s record plunge drags down global chip stocks

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.