CIBC Asset Management Inc Boosts Position in Western Digital Corporation $WDC

CIBC Asset Management Inc boosted its holdings in Western Digital Corporation (NASDAQ:WDC) by 201.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 143,276 shares of the data storage provider’s stock after buying an additional 95,710 shares during the quarter. CIBC Asset Management Inc’s holdings in Western Digital were worth $24,682,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Mccarter Private Wealth Services LLC acquired a new stake in Western Digital during the fourth quarter worth approximately $207,000. Westpac Banking Corp boosted its holdings in shares of Western Digital by 2.1% in the 4th quarter. Westpac Banking Corp now owns 6,258 shares of the data storage provider’s stock valued at $1,078,000 after buying an additional 126 shares in the last quarter. Kesler Norman & Wride LLC purchased a new position in shares of Western Digital in the 4th quarter valued at $458,000. Natixis Advisors LLC grew its position in shares of Western Digital by 2.0% in the 4th quarter. Natixis Advisors LLC now owns 372,984 shares of the data storage provider’s stock valued at $64,254,000 after buying an additional 7,380 shares during the last quarter. Finally, Root Financial Partners LLC raised its stake in Western Digital by 12.2% during the 4th quarter. Root Financial Partners LLC now owns 1,184 shares of the data storage provider’s stock worth $204,000 after acquiring an additional 129 shares in the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Western Digital from $500.00 to $685.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company lifted 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. Barclays boosted their target price on Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Cantor Fitzgerald upped their target price on Western Digital to $660.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Bank of America raised their price target on Western Digital to $495.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Western Digital has a consensus rating of “Moderate Buy” and an average price target of $424.33.

Western Digital Stock Performance

Shares of Western Digital stock opened at $575.50 on Friday. The company has a market capitalization of $198.36 billion, a P/E ratio of 34.36 and a beta of 2.13. Western Digital Corporation has a 1 year low of $54.22 and a 1 year high of $602.54. The company’s fifty day moving average is $417.75 and its two-hundred day moving average is $293.25.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the prior year, the company earned $1.36 earnings per share. The business’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. As a group, equities analysts expect that Western Digital Corporation will post 9.57 earnings per share for the current year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.60 annualized dividend and a yield of 0.1%. This is a boost from Western Digital’s previous quarterly dividend of $0.13. Western Digital’s dividend payout ratio (DPR) is currently 2.99%.

Insider Buying and Selling

In other news, insider Cynthia L. Tregillis sold 214 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $539.63, for a total transaction of $115,480.82. Following the completion of the sale, the insider owned 117,157 shares in the company, valued at $63,221,431.91. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 stock in a transaction on Monday, June 1st. The stock was sold at an average price of $556.24, for a total value of $1,376,694.00. Following the sale, the insider directly owned 85,154 shares of the company’s stock, valued at approximately $47,366,060.96. This represents a 2.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,890 shares of company stock valued at $12,532,851 over the last 90 days. Insiders own 0.18% of the company’s stock.

More Western Digital News

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

• Positive Sentiment: Western Digital’s recent Computex 2026 messaging reinforced the idea that AI demand is not just about chips, but about storage and data movement, supporting the stock’s AI-related momentum. AI isn’t just a compute race. It’s a data race – and storage will decide the winners, WD shares
• Positive Sentiment: Citigroup reportedly raised its price target on Western Digital by 37%, which likely boosted investor confidence and helped send shares to fresh highs. Western Digital (WDC) Hits All-Time High as Citi Hikes PT by 37%
• Positive Sentiment: Western Digital also announced a convertible-debt exchange, which investors may view as a cleaner capital structure that gives the company more flexibility for future AI-related moves. Western Digital Restructures Convertible Debt via Equity Exchange
• Positive Sentiment: Commentary continues to frame Western Digital as a beneficiary of the AI storage supercycle, with tighter supply and firm pricing supporting the earnings outlook. How The Western Digital (WDC) Investment Story Is Shifting With AI Storage And New Valuations
• Positive Sentiment: Western Digital’s recent earnings were strong, with revenue and EPS beating estimates, which continues to underpin the rally in the stock. Western Digital stock and company profile
• Neutral Sentiment: The stock also drew attention from a conference presentation and ongoing coverage, but these items did not introduce a clearly new catalyst on their own. Western Digital Corporation (WDC) Presents at 2026 Evercore Global TMT Conference Transcript
• Negative Sentiment: A small insider sale by a company executive may have slightly cooled sentiment, though it was modest relative to the insider’s remaining holdings. SEC filing for insider sale
• Negative Sentiment: Near-term stock weakness may also reflect broad semiconductor-sector pressure after weak AI-chip commentary from peers, which can spill over into storage names like Western Digital. Micron Drops 7% as Broadcom’s Disappointing AI Outlook Triggers a Semiconductor Selloff

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.