Seelaus Asset Management LLC Sells 3,465 Shares of Western Digital Corporation $WDC

Seelaus Asset Management LLC lowered its stake in Western Digital Corporation (NASDAQ:WDC) by 50.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 3,420 shares of the data storage provider’s stock after selling 3,465 shares during the quarter. Seelaus Asset Management LLC’s holdings in Western Digital were worth $925,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in Western Digital in the 4th quarter worth $788,729,000. Fred Alger Management LLC boosted its holdings in Western Digital by 4,923.9% during the third quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock valued at $409,049,000 after acquiring an additional 3,339,225 shares during the period. Soroban Capital Partners LP grew its position in shares of Western Digital by 1,926.3% in the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock valued at $195,882,000 after purchasing an additional 2,910,062 shares during the last quarter. Polar Capital Holdings Plc acquired a new stake in shares of Western Digital in the third quarter valued at about $221,800,000. Finally, National Pension Service increased its stake in shares of Western Digital by 267.6% in the fourth quarter. National Pension Service now owns 1,691,659 shares of the data storage provider’s stock worth $291,422,000 after purchasing an additional 1,231,477 shares during the period. Institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other news, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $545.60, for a total value of $235,699.20. Following the completion of the transaction, the insider owned 116,643 shares in the company, valued at approximately $63,640,420.80. This represents a 0.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was 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 of the company’s stock, valued at $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 29,322 shares of company stock worth $12,768,550. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

WDC has been the subject of several research analyst reports. Robert W. Baird boosted their price objective on Western Digital from $310.00 to $450.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Zacks Research raised Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Weiss Ratings lowered Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Sanford C. Bernstein raised shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 target price on the stock in a research report on Tuesday, March 31st. Finally, UBS Group upped their target price on shares of Western Digital from $350.00 to $375.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $502.12.

Trending Headlines about Western Digital

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

• Positive Sentiment: Research chatter turned more constructive after Melius Research was reported as bullish on Western Digital, reinforcing the view that the company is a beneficiary of AI storage demand. Melius Research is Bullish on Western Digital Corporation (WDC)
• Positive Sentiment: Several articles highlighted strong fundamentals and valuation support, including comments that WDC looks inexpensive on cash flow, has beaten earnings recently, and continues to benefit from rising AI-related storage demand. Western Digital (WDC) Stock Looks Cheap On Cash Flow But Rich On Earnings
• Positive Sentiment: Analyst expectations remain generally favorable, with multiple firms maintaining buy or outperform ratings and recent price targets clustered above current levels, including a fresh upgrade in target from Susquehanna. Western Digital had its price target raised by Susquehanna
• Neutral Sentiment: Market-wide headlines about the Nasdaq, Fed minutes, and broader tech rotation are adding noise to trading, but these are not specific to Western Digital’s fundamentals. Stock Market Today: Nasdaq Swings To Score A Win; Fed Minutes Show Split On Direction
• Negative Sentiment: Some investors are still wary after the recent memory-chip selloff tied to Samsung results, which pressured WDC and peers earlier in the week and could keep sentiment choppy. Here is What to Know Beyond Why Western Digital Corporation (WDC) is a Trending Stock

Western Digital Trading Up 3.4%

Shares of WDC stock opened at $550.30 on Thursday. Western Digital Corporation has a 12 month low of $64.16 and a 12 month high of $799.87. The company has a market capitalization of $189.68 billion, a P/E ratio of 32.85 and a beta of 2.11. The stock has a 50 day moving average of $548.75 and a two-hundred day moving average of $368.57.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. The business had revenue of $3.34 billion for 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 period in the previous year, the business 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 earnings per share for the current fiscal 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 issued a $0.15 dividend. This is a boost from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.60 annualized dividend and a yield of 0.1%. Western Digital’s payout ratio is presently 3.58%.

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.