Kornitzer Capital Management Inc. KS Purchases Shares of 2,175 Western Digital Corporation $WDC

Kornitzer Capital Management Inc. KS purchased a new position in Western Digital Corporation (NASDAQ:WDC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,175 shares of the data storage provider’s stock, valued at approximately $588,000.

A number of other hedge funds have also recently modified their holdings of WDC. Global Trust Asset Management LLC bought a new stake in shares of Western Digital in the first quarter worth about $47,000. Avion Wealth increased its holdings in Western Digital by 163.8% during the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 113 shares during the period. Roble Belko & Company Inc bought a new position in Western Digital during the 1st quarter valued at approximately $50,000. Swiss RE Ltd. bought a new position in Western Digital during the 4th quarter valued at approximately $32,000. Finally, Concord Wealth Partners purchased a new stake in Western Digital in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Trending Headlines about Western Digital

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

• Negative Sentiment: WDC slid in sympathy with the memory-chip sector after SK Hynix’s steep decline reignited concerns about valuations and near-term earnings in AI-related memory stocks. Western Digital Stock Drops: Why an Aggressive SK Hynix Reversal Is Shaking Up the Chip Sector
• Negative Sentiment: The broader group also weakened after reports that SK Hynix’s weak profit forecast and post-IPO reversal triggered selling across chip and storage names, including Western Digital. Micron, SanDisk, Western Digital Fall 6% as SK Hynix’s Weak Outlook Rattles Memory Stocks
• Negative Sentiment: Another report said WDC was down in pre-market trading as investors dumped memory-chip stocks amid sector-wide weakness and rising geopolitical tension. Why Is Western Digital Stock (WDC) Falling in Pre-Market Today, 7/13/26?
• Negative Sentiment: Market commentary also noted that global chip stocks were under pressure as investors reconsidered the sustainability of aggressive AI spending and related valuations. Intel, AMD, Sandisk, and More Stocks That Explain Today’s Market
• Neutral Sentiment: Western Digital also announced it will report fourth-quarter and fiscal 2026 results on August 5, which keeps investor attention focused on upcoming earnings but does not by itself change the near-term trading setup. WD to Announce Fourth Quarter and Fiscal Year 2026 Financial Results on August 5, 2026
• Positive Sentiment: Despite the selloff, some analysts remain constructive, citing strong demand and tight HDD supply as reasons Western Digital could still have upside if fundamentals hold. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WDC. Sanford C. Bernstein upgraded Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price objective on the stock in a research report on Tuesday, March 31st. Fox Advisors lowered Western Digital from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Rosenblatt Securities lifted their price target on shares of Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a report on Friday, May 1st. Barclays lifted their price target on shares of Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Finally, Mizuho upped their price objective on shares of Western Digital from $550.00 to $685.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $520.32.

Insider Buying and Selling at Western Digital

In related news, insider Cynthia L. Tregillis sold 432 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the sale, the insider owned 116,643 shares of the company’s stock, valued at $63,640,420.80. The trade was a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the completion of the sale, the insider owned 85,154 shares in the company, valued at approximately $47,366,060.96. This trade represents a 2.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 29,322 shares of company stock worth $12,768,550. Insiders own 0.18% of the company’s stock.

Western Digital Stock Down 4.6%

Shares of WDC stock opened at $555.55 on Tuesday. The business’s fifty day moving average is $558.32 and its 200 day moving average is $376.88. The stock has a market cap of $191.49 billion, a price-to-earnings ratio of 33.17 and a beta of 2.11. Western Digital Corporation has a twelve month low of $65.24 and a twelve month high of $799.87.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter last year, the firm posted $1.36 earnings per share. The company’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 expect 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. Investors of record on Friday, June 5th were given a dividend of $0.15 per share. This is an increase 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 dividend on an annualized basis and a yield of 0.1%. Western Digital’s dividend 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.