Knollwood Investment Advisory LLC Has $271,000 Holdings in Western Digital Corporation $WDC

Knollwood Investment Advisory LLC cut its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 90.1% in the 4th quarter, HoldingsChannel reports. The fund owned 1,575 shares of the data storage provider’s stock after selling 14,300 shares during the quarter. Knollwood Investment Advisory LLC’s holdings in Western Digital were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Avion Wealth lifted its position 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 acquiring an additional 113 shares during the last quarter. Swiss RE Ltd. acquired a new stake in Western Digital during the fourth quarter worth approximately $32,000. Concord Wealth Partners acquired a new stake in Western Digital during the fourth quarter worth approximately $41,000. BOKF NA lifted 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 worth $33,000 after acquiring an additional 268 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new stake in Western Digital during the third quarter worth approximately $33,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

More Western Digital News

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

• Positive Sentiment: JPMorgan raised its price target on Western Digital from $530 to $650 and reiterated an overweight rating, signaling more upside potential for the shares. Article Title
• Positive Sentiment: The company announced a Sandisk share exchange with institutional investors, a move that has been interpreted as supportive of the stock and part of a broader capital strategy. Article Title
• Positive Sentiment: Western Digital highlighted AI-focused storage innovation at Computex, reinforcing the market’s view that it is well positioned to benefit from data-center and AI infrastructure spending. Article Title
• Positive Sentiment: Analysts also pointed to strong free cash flow, a larger dividend, and a new $4 billion buyback plan, which supports the investment case by showing confidence in cash generation and shareholder returns. Article Title
• Neutral Sentiment: Western Digital has been outperforming the broader market over the past year, and brokerages still generally rate the stock a moderate buy, which supports sentiment but is more of a confirmation than a new catalyst. Article Title
• Negative Sentiment: One recent market note said WDC slipped with the broader market after a hotter-than-expected CPI report revived rate-hike concerns, showing that macro pressure can still weigh on the stock at times. Article Title

Analysts Set New Price Targets

Several brokerages have issued reports on WDC. Mizuho raised their price objective on shares of Western Digital from $550.00 to $685.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Evercore restated an “outperform” rating and set a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Wells Fargo & Company raised their price objective on shares of Western Digital from $500.00 to $575.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. TD Cowen raised their target price on shares of Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. raised 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. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $443.71.

Western Digital Trading Up 6.4%

Shares of WDC opened at $562.92 on Friday. Western Digital Corporation has a 12 month low of $54.60 and a 12 month high of $602.54. The firm’s 50 day moving average is $447.23 and its 200-day moving average is $307.91. The stock has a market capitalization of $194.03 billion, a PE ratio of 33.61 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 EPS 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 company had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period last year, the firm earned $1.36 earnings per share. The business’s revenue for the quarter was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities research analysts predict that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is a positive change from Western Digital’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, June 5th. Western Digital’s payout ratio is 3.58%.

Insider Activity

In related news, Director Bruce E. Kiddoo sold 750 shares of Western Digital 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 transaction, the director directly owned 3,903 shares of the company’s stock, valued at $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cynthia L. Tregillis sold 432 shares of Western Digital stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the completion of the transaction, the insider directly owned 116,643 shares in the company, valued at $63,640,420.80. This trade represents a 0.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 29,322 shares of company stock valued at $12,768,550. 0.18% of the stock is owned by insiders.

Western Digital 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.