Assetmark Inc. Has $64.65 Million Position in Western Digital Corporation $WDC

Assetmark Inc. lowered its position in shares of Western Digital Corporation (NASDAQ:WDC) by 11.4% in the first quarter, Holdings Channel reports. The firm owned 239,012 shares of the data storage provider’s stock after selling 30,898 shares during the period. Assetmark Inc.’s holdings in Western Digital were worth $64,650,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new stake in shares of Western Digital in the fourth quarter valued at about $2,270,000. NorthCrest Asset Manangement LLC grew its holdings in shares of Western Digital by 75.4% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider’s stock worth $1,778,000 after buying an additional 4,068 shares in the last quarter. WESPAC Advisors LLC acquired a new stake in Western Digital in the 4th quarter valued at approximately $793,000. Nomura Asset Management Co. Ltd. raised its position in 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 valued at $193,303,000 after buying an additional 282,156 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in Western Digital in the 4th quarter valued at approximately $20,889,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Vidyadhara K. Gubbi sold 4,674 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the transaction, the insider directly owned 90,041 shares of the company’s stock, valued at approximately $39,905,270.79. The trade was a 4.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $411.84, for a total value of $8,236,800.00. Following the completion of the sale, the chief executive officer owned 598,150 shares in the company, valued at approximately $246,342,096. This trade represents a 3.24% 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. Over the last quarter, insiders have sold 29,322 shares of company stock valued at $12,768,550. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on WDC. Wells Fargo & Company raised their price target on shares of Western Digital from $575.00 to $730.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Jefferies Financial Group set a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Citigroup increased their target price on shares of Western Digital from $685.00 to $800.00 and gave the stock a “buy” rating in a report on Monday. Melius Research set a $1,050.00 target price on shares of Western Digital and gave the company a “buy” rating in a research report on Monday, June 29th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $560.00 target price on shares of Western Digital in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Western Digital presently has an average rating of “Moderate Buy” and a consensus price target of $520.32.

Western Digital News Summary

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

• Positive Sentiment: New coverage says Western Digital is well positioned to benefit from global AI infrastructure growth, with rising demand for advanced memory and storage supporting a stronger long-term revenue outlook. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Another report highlighted Western Digital as one of two smaller AI storage names that could benefit from expanding data center demand, citing improving margins and earnings growth potential. Everyone’s Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: A separate Zacks piece argues AI data growth is accelerating HDD demand and that Western Digital’s focused strategy could help it capture hyperscale storage opportunities. AI Data Growth is Exploding: Can Western Digital Keep Up?
• Neutral Sentiment: Several market wrap-ups noted high volatility in tech and momentum stocks, which is adding noise to trading in Western Digital and other memory names. The Tech Shakeout: Market Extremes & Gavin Baker’s Bold Call
• Neutral Sentiment: Wall Street commentary also flagged Western Digital as part of a broader AI-memory trade, with analysts still generally constructive but market sentiment swinging sharply day to day. Which Storage Stock Is Best Positioned to Win the AI Memory War?
• Negative Sentiment: Multiple reports said Western Digital fell alongside SanDisk and Micron as investors took profits in semiconductor and memory stocks, reflecting sector-wide rotation rather than company-specific trouble. Nasdaq Slips as Chip Stocks Come Under Pressure
• Negative Sentiment: Western Digital also faced a post-rally pullback as traders reassessed how durable the AI-driven storage boom will be ahead of the company’s next earnings report and guidance. Why Western Digital (WDC) Stock Is Down Today

Western Digital Stock Performance

Shares of WDC stock opened at $477.22 on Friday. The firm’s 50-day moving average is $560.89 and its 200-day moving average is $384.59. The stock has a market cap of $164.49 billion, a price-to-earnings ratio of 28.49 and a beta of 2.11. Western Digital Corporation has a 52-week low of $66.04 and a 52-week high of $799.87.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.33. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.Western Digital’s quarterly revenue was up 45.5% on a year-over-year basis. During the same quarter last year, the company posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Sell-side analysts predict that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were paid a dividend of $0.15 per share. The ex-dividend date 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 dividend payout ratio is presently 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.