Western Digital Corporation $WDC Shares Bought by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft increased its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 72.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,413 shares of the data storage provider’s stock after buying an additional 6,065 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Western Digital were worth $3,685,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Western Digital by 7.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock worth $1,698,000 after purchasing an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Western Digital by 229.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after purchasing an additional 967 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Western Digital during the 2nd quarter valued at $307,000. Cresset Asset Management LLC purchased a new stake in shares of Western Digital during the 2nd quarter valued at $292,000. Finally, Federated Hermes Inc. increased its holdings in shares of Western Digital by 55.3% during the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock worth $152,000 after buying an additional 845 shares during the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Sanford C. Bernstein raised 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. Mizuho boosted their price target on Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Wall Street Zen upgraded Western Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 13th. Finally, Jefferies Financial Group set a $575.00 price objective on Western Digital in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $520.32.

Key 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 stocks as investors step back in after last week’s selloff, improving sentiment across the semiconductor group. Micron Jumps 5%, SanDisk Rises 6%, Western Digital Climbs 4% as Memory Stocks Rebound With Chips
• Positive Sentiment: Morgan Stanley’s view that the memory-stock selloff created a strong entry point is encouraging dip-buying in Western Digital and other chip names. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Neutral Sentiment: Western Digital Malaysia was recognized for advancing sustainable AI infrastructure, which supports the company’s AI narrative but is unlikely to be the main stock-moving catalyst today. WD Malaysia Recognized for Advancing Sustainable AI Infrastructure

Western Digital Trading Up 2.1%

Shares of WDC stock opened at $487.42 on Tuesday. The company has a market capitalization of $168.00 billion, a PE ratio of 29.10 and a beta of 2.11. The firm has a fifty day simple moving average of $560.32 and a 200-day simple moving average of $388.23. Western Digital Corporation has a twelve month low of $66.04 and a twelve month high of $799.87.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.33. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.Western Digital’s revenue for the quarter was up 45.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities research analysts predict that Western Digital Corporation will post 9.61 EPS for the current year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors 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 dividend on an annualized basis and a dividend yield of 0.1%. This is a boost from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s payout ratio is currently 3.58%.

Insider Buying and Selling at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the sale, the insider owned 85,154 shares in the company, valued at $47,366,060.96. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the transaction, the chief executive officer directly owned 598,150 shares in the company, valued at $246,342,096. This represents a 3.24% decrease in their position. 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. Insiders sold 28,959 shares of company stock worth $12,631,666 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

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.