Lombard Odier Asset Management Switzerland SA Sells 7,343 Shares of Western Digital Corporation $WDC

Lombard Odier Asset Management Switzerland SA lessened its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 17.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,129 shares of the data storage provider’s stock after selling 7,343 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Western Digital were worth $5,879,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Atom Investors LP acquired a new position in Western Digital in the 4th quarter valued at $1,534,000. Kemnay Advisory Services Inc. acquired a new position in Western Digital during the 4th quarter valued at $163,000. State of Wisconsin Investment Board lifted its holdings in shares of Western Digital by 15.0% during the 4th quarter. State of Wisconsin Investment Board now owns 226,966 shares of the data storage provider’s stock worth $39,099,000 after acquiring an additional 29,606 shares during the period. Captrust Financial Advisors increased its stake in Western Digital by 19.1% in the fourth quarter. Captrust Financial Advisors now owns 32,637 shares of the data storage provider’s stock valued at $5,622,000 after acquiring an additional 5,239 shares during the period. Finally, &PARTNERS raised its position in Western Digital by 44.6% in the fourth quarter. &PARTNERS now owns 15,678 shares of the data storage provider’s stock worth $2,711,000 after purchasing an additional 4,833 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WDC. JPMorgan Chase & Co. upped their price objective on Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Weiss Ratings upgraded Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 15th. Wall Street Zen upgraded Western Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Evercore reiterated an “outperform” rating and set a $575.00 price objective on shares of Western Digital in a research note on Tuesday, May 26th. Finally, Mizuho lifted their price objective on Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $450.46.

Western Digital Price Performance

Shares of WDC opened at $681.08 on Wednesday. The company has a market capitalization of $234.75 billion, a P/E ratio of 40.66 and a beta of 2.13. Western Digital Corporation has a one year low of $57.88 and a one year high of $729.92. The business’s 50 day simple moving average is $462.12 and its 200-day simple moving average is $316.21.

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 return on equity of 42.95% and a net margin of 55.29%.The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the previous year, the business earned $1.36 EPS. Western Digital’s revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, sell-side analysts anticipate that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

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

Insider Activity at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 432 shares of the company’s stock in a transaction 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 sale, the insider owned 116,643 shares in the company, valued at approximately $63,640,420.80. The trade was a 0.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the sale, the insider owned 90,041 shares of the company’s stock, valued at $39,905,270.79. The trade was a 4.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 29,322 shares of company stock worth $12,768,550. Company insiders own 0.18% of the company’s stock.

Trending Headlines about Western Digital

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

• Positive Sentiment: Morgan Stanley raised its outlook on Western Digital and boosted its price target, adding to the bullish case that AI data-center growth is driving stronger-than-expected storage demand. Western Digital Stock Just Hit a New All-Time High. Here’s Why.
• Positive Sentiment: Multiple reports say WDC is benefiting from a broader re-rating of AI storage stocks, with investors focused on tight hard-disk supply, sold-out inventory, and higher pricing power. Western Digital stock jumps as AI trade reignites
• Positive Sentiment: Media coverage highlighted a hyperscaler multiyear commitment to Western Digital, reinforcing confidence that demand from large cloud customers remains robust. Hyperscaler’s Multiyear Commitment with Western Digital (WDC) Highlights Robust Demand
• Neutral Sentiment: Investors are also watching June 22 for the planned SanDisk-related swap, which could create another event-driven trading catalyst for WDC. Dear Western Digital Stock Fans, Mark Your Calendars for June 22
• Negative Sentiment: One commentary piece argued the stock may be due for a near-term pullback after its huge run-up this year, suggesting valuation and momentum risks could cap gains in the short term. Western Digital stock looks ripe for a near-term pullback: find out more

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.