Sharpepoint LLC Makes New $4.24 Million Investment in Western Digital Corporation $WDC

Sharpepoint LLC acquired a new position in Western Digital Corporation (NASDAQ:WDC) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 24,612 shares of the data storage provider’s stock, valued at approximately $4,240,000. Western Digital comprises 2.5% of Sharpepoint LLC’s holdings, making the stock its 12th largest holding.

A number of other hedge funds also recently modified their holdings of the company. Quadcap Wealth Management LLC lifted its position in shares of Western Digital by 2.1% in the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock worth $346,000 after acquiring an additional 41 shares during the period. Moss Adams Wealth Advisors LLC lifted its position in shares of Western Digital by 2.6% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider’s stock worth $341,000 after acquiring an additional 51 shares during the period. Bogart Wealth LLC lifted its position in shares of Western Digital by 19.4% in the 4th quarter. Bogart Wealth LLC now owns 369 shares of the data storage provider’s stock worth $64,000 after acquiring an additional 60 shares during the period. CYBER HORNET ETFs LLC lifted its position in shares of Western Digital by 7.2% in the 4th quarter. CYBER HORNET ETFs LLC now owns 889 shares of the data storage provider’s stock worth $153,000 after acquiring an additional 60 shares during the period. Finally, Moors & Cabot Inc. lifted its position in shares of Western Digital by 3.6% in the 4th quarter. Moors & Cabot Inc. now owns 2,113 shares of the data storage provider’s stock worth $364,000 after acquiring an additional 73 shares during the period. Institutional investors own 92.51% of the company’s stock.

More Western Digital News

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

• Positive Sentiment: Mizuho reiterated a bullish view on Western Digital, saying AI-driven storage demand continues to show no signs of slowing, which supports the long-term revenue outlook for the company. Mizuho doubles down on WDC stock as AI storage demand shows no signs of slowing down
• Positive Sentiment: Citi also remained bullish on Western Digital, suggesting analysts still see upside potential despite the stock’s recent volatility. Citi Remains Bullish on Western Digital Corporation (WDC) – Here’s Why
• Neutral Sentiment: Western Digital has been receiving elevated investor attention, with multiple articles noting that WDC is a trending stock and worth watching, but these pieces do not point to a specific new catalyst. Western Digital Corporation (WDC) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: One market commentary said WDC could deserve attention, reflecting continued interest in the stock rather than a clear operational update. Here's Why We Think Western Digital (NASDAQ:WDC) Might Deserve Your Attention Today
• Negative Sentiment: WDC fell more sharply than the broader market in the latest session, as memory and storage names came under pressure alongside peers such as Micron, indicating sector-wide risk-off sentiment was a key driver of the decline. Western Digital (WDC) Falls More Steeply Than Broader Market: What Investors Need to Know
• Negative Sentiment: Broader semiconductor and memory stocks sold off after geopolitical headlines raised macro uncertainty, and Western Digital was caught up in that move. Skyworks Solutions, Western Digital, and Teradyne Shares Are Falling, What You Need To Know

Insiders Place Their Bets

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

Analyst Ratings Changes

WDC has been the subject of a number of research reports. Evercore reiterated an “outperform” rating and issued a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. Cantor Fitzgerald raised their price objective on Western Digital to $660.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Rosenblatt Securities raised their target price on Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Wells Fargo & Company raised their target price on Western Digital from $500.00 to $575.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $400.00 target price on shares of Western Digital in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $433.29.

Western Digital Price Performance

Western Digital stock opened at $490.09 on Thursday. The company has a market capitalization of $168.92 billion, a PE ratio of 29.26 and a beta of 2.13. Western Digital Corporation has a one year low of $54.60 and a one year high of $602.54. The business has a 50 day simple moving average of $436.75 and a 200 day simple moving average of $303.37.

Western Digital (NASDAQ:WDC) last posted 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. The business had revenue of $3.34 billion during 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 was up 45.5% on a year-over-year basis. During the same quarter last year, the company earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities analysts anticipate that Western Digital Corporation will post 9.57 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 5th. 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. Western Digital’s payout ratio is 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.