Western Digital Corporation $WDC Shares Sold by Kingdon Capital Management L.L.C.

Kingdon Capital Management L.L.C. lessened its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 53.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,000 shares of the data storage provider’s stock after selling 70,000 shares during the period. Kingdon Capital Management L.L.C.’s holdings in Western Digital were worth $7,204,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WCM Investment Management LLC purchased a new position in Western Digital in the third quarter valued at approximately $791,317,000. Norges Bank purchased a new position in shares of Western Digital in the 2nd quarter valued at $220,680,000. Fred Alger Management LLC raised its stake in Western Digital by 4,923.9% during the 3rd quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock worth $409,049,000 after acquiring an additional 3,339,225 shares in the last quarter. Soroban Capital Partners LP raised its stake in Western Digital by 1,926.3% during the 2nd quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after acquiring an additional 2,910,062 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Western Digital by 175.4% in the second quarter. AQR Capital Management LLC now owns 1,232,071 shares of the data storage provider’s stock valued at $78,347,000 after acquiring an additional 784,645 shares during the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Stock Performance

NASDAQ WDC opened at $272.29 on Monday. The firm has a market cap of $92.32 billion, a P/E ratio of 27.31, a P/E/G ratio of 0.63 and a beta of 1.75. Western Digital Corporation has a 52-week low of $28.83 and a 52-week high of $309.90. The business’s 50-day moving average price is $255.24 and its 200 day moving average price is $179.83. The company has a quick ratio of 1.19, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, January 29th. The data storage provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.20. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period last year, the firm earned $1.77 EPS. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. On average, equities research analysts expect that Western Digital Corporation will post 4.89 earnings per share for the current year.

Western Digital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Thursday, March 5th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, March 5th. Western Digital’s payout ratio is currently 5.02%.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Investor focus on tight high-capacity HDD supply for cloud/AI workloads and Western Digital’s expanded $4.0 billion share-repurchase authorization is supporting the rally; the company’s Innovation Day roadmap (40TB UltraSMR ePMR HDD in hyperscaler qualification) reinforces the growth narrative for AI storage. Western Digital (WDC) rises 3.5% as AI-storage demand narrative and recent buyback authorization continue to support shares
• Positive Sentiment: Customer narrative pieces highlight strong enterprise demand for hard drives, which backs the thesis that nearline/HDD capacity remains tight and pricing power could persist. Customer Narrative on Hard Drives Bodes Well for Western Digital (WDC)
• Positive Sentiment: Analyst sentiment and relative performance remain constructive: WDC has materially outperformed the broader tech sector over the past year and multiple brokers maintain bullish ratings and elevated price targets, which provides momentum and buy-side interest. How Is Western Digital’s Stock Performance Compared to Other Technology Stocks?
• Positive Sentiment: Media commentators (e.g., Jim Cramer) have included WDC on watchlists as a name to buy on market dips, which can amplify flows when broader-market pullbacks occur. Cramer: Buy Western Digital, Micron, Seagate on oil-driven dips
• Neutral Sentiment: Partnership/solution announcements (e.g., VDURA combining WD Ultrastar hybrid platforms with cloud-scale AI file architecture) extend product reach but are incremental until they produce visible revenue/contract wins. VDURA to Combine Scalable WD Ultrastar Hybrid Storage Platforms with Cloud-Scale AI File Architecture
• Negative Sentiment: Insider selling has been heavy recently (multiple exec sales reported), which can be interpreted negatively by some investors and may weigh on sentiment despite company-level buybacks. Western Digital (WDC) rises 3.5% as AI-storage demand narrative and recent buyback authorization continue to support shares
• Negative Sentiment: Macro pressure from rising oil and choppy futures can drag broader tech names; recent headlines show futures slipping as oil jumps, which can trigger short-term volatility for WDC. Dow Jones Futures Fall As Oil Prices Run Past $90; Oracle, Nvidia Lift These AI Names
• Negative Sentiment: Short-term pullbacks have occurred (coverage noting WDC fell more than the broader market), so momentum can reverse quickly after a sharp rally — watch valuation and volume on moves. Western Digital (WDC) Falls More Steeply Than Broader Market: What Investors Need to Know

Analyst Ratings Changes

Several brokerages have issued reports on WDC. Wells Fargo & Company raised their price objective on Western Digital from $260.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Susquehanna reissued a “neutral” rating and issued a $285.00 target price on shares of Western Digital in a report on Friday, February 6th. China Renaissance started coverage on Western Digital in a research report on Friday, December 5th. They issued a “buy” rating and a $193.00 target price for the company. Robert W. Baird set a $310.00 price target on Western Digital in a research note on Monday, February 2nd. Finally, UBS Group set a $306.00 price objective on Western Digital in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $265.58.

Insider Activity

In other Western Digital news, insider Cynthia L. Tregillis sold 9,324 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $268.27, for a total transaction of $2,501,349.48. Following the completion of the transaction, the insider owned 121,682 shares in the company, valued at approximately $32,643,630.14. This represents a 7.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $255.44, for a total transaction of $5,108,800.00. Following the completion of the sale, the chief executive officer owned 623,586 shares of the company’s stock, valued at $159,288,807.84. This trade represents a 3.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 92,795 shares of company stock valued at $24,265,884. 0.18% of the stock is owned by corporate insiders.

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.