Fullerton Fund Management Co Ltd. Takes Position in Western Digital Corporation $WDC

Fullerton Fund Management Co Ltd. purchased a new stake in Western Digital Corporation (NASDAQ:WDC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,953 shares of the data storage provider’s stock, valued at approximately $336,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. AustralianSuper Pty Ltd acquired a new stake in shares of Western Digital in the third quarter valued at approximately $34,244,000. Cantor Fitzgerald L. P. grew its holdings in Western Digital by 399.8% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider’s stock worth $3,900,000 after acquiring an additional 25,987 shares during the period. NorthCrest Asset Manangement LLC grew its holdings in Western Digital by 75.4% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider’s stock worth $1,778,000 after acquiring an additional 4,068 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in Western Digital during the 4th quarter worth $2,270,000. Finally, WESPAC Advisors LLC acquired a new stake in Western Digital during the 4th quarter worth $793,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on WDC shares. Jefferies Financial Group set a $575.00 target price on shares of Western Digital in a report on Tuesday, May 26th. Morgan Stanley lifted their target price on shares of Western Digital from $488.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday. Sanford C. Bernstein raised shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 target price for the company in a report on Tuesday, March 31st. Zacks Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, Robert W. Baird lifted their target price on shares of Western Digital from $310.00 to $450.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $450.46.

Insider Activity at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $411.84, for a total value of $8,236,800.00. Following the sale, the chief executive officer directly owned 598,150 shares of the company’s stock, valued at approximately $246,342,096. The trade was a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 432 shares of the business’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 directly owned 116,643 shares in the company, valued at $63,640,420.80. This represents a 0.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 29,322 shares of company stock valued at $12,768,550. 0.18% of the stock is owned by insiders.

Key Stories Impacting 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

Western Digital Stock Up 4.2%

Shares of NASDAQ WDC opened at $681.08 on Wednesday. The company’s fifty day moving average is $462.12 and its 200-day moving average is $316.21. The stock has a market cap of $234.75 billion, a price-to-earnings ratio of 40.66 and a beta of 2.13. Western Digital Corporation has a twelve month low of $57.88 and a twelve month high of $729.92.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.33. The company had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business’s quarterly revenue was up 45.5% compared to the same quarter last year. During the same period last year, the firm posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, research 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. 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 an increase from Western Digital’s previous quarterly dividend of $0.13. Western Digital’s payout ratio is presently 3.58%.

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.