Sharpepoint LLC Has $4.96 Million Stock Holdings in Western Digital Corporation $WDC

Sharpepoint LLC lessened its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 25.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 18,328 shares of the data storage provider’s stock after selling 6,284 shares during the quarter. Western Digital makes up about 3.0% of Sharpepoint LLC’s portfolio, making the stock its 8th largest position. Sharpepoint LLC’s holdings in Western Digital were worth $4,958,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. grew its position in shares of Western Digital by 9.2% during the 1st quarter. GHP Investment Advisors Inc. now owns 357 shares of the data storage provider’s stock valued at $97,000 after acquiring an additional 30 shares during the period. Alps Advisors Inc. increased its stake in shares of Western Digital by 0.8% during the 4th quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider’s stock worth $811,000 after purchasing an additional 37 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its holdings in shares of Western Digital by 1.1% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 3,782 shares of the data storage provider’s stock worth $1,023,000 after purchasing an additional 40 shares during the period. Quadcap Wealth Management LLC raised its holdings in shares of Western Digital by 2.1% in the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock worth $346,000 after purchasing an additional 41 shares during the period. Finally, Moss Adams Wealth Advisors LLC lifted its stake in Western Digital by 2.6% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider’s stock valued at $341,000 after purchasing an additional 51 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Western Digital News Summary

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

• Positive Sentiment: Some analysts remain constructive on Western Digital, with one report suggesting the stock could still have meaningful upside from current levels thanks to improving memory pricing and AI-driven demand. Why Analysts Are Betting Western Digital Stock Can Gain Another 30% from Here
• Positive Sentiment: Several market commentary pieces argue that Western Digital and other memory stocks may look attractive after the recent sell-off because of lower valuations, better supply-demand trends, and ongoing AI-related storage demand. Why You Must Buy These 4 Memory Stocks After the Recent Sell-Off
• Neutral Sentiment: Western Digital’s upcoming earnings preview is drawing attention, but no new company-specific results were reported in these articles. Western Digital’s Quarterly Earnings Preview: What You Need to Know
• Negative Sentiment: Shares are being hit by broad profit-taking across memory stocks after a sharp rally this year, with traders locking in gains in Western Digital, Micron, SanDisk, and peers. SK Hynix Drops 5%, SanDisk Slides 6%, Western Digital Slips 4% as Traders Take Profits in Memory Stocks
• Negative Sentiment: Western Digital also fell after CXMT’s reported $10 billion IPO plans raised fears of a stronger new competitor entering the memory market, adding to concerns about future pricing and margins. Western Digital Stock Tumbles as CXMT Targets $10 Billion Shanghai IPO
• Negative Sentiment: Another market wrap noted that Western Digital was down sharply as the broader chip selloff weighed on the memory sector. Western Digital (WDC) Stock Dips While Market Gains: Key Facts

Western Digital Price Performance

Shares of WDC stock opened at $513.84 on Thursday. The stock has a market capitalization of $177.11 billion, a price-to-earnings ratio of 30.68 and a beta of 2.11. The company’s fifty day simple moving average is $560.89 and its two-hundred day simple moving average is $381.93. Western Digital Corporation has a 1 year low of $65.79 and a 1 year high of $799.87.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.33. The firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The business’s revenue for the quarter was up 45.5% on a year-over-year basis. During the same period last year, the company earned $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities research analysts anticipate that Western Digital Corporation will post 9.6 EPS for the current year.

Western Digital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were paid a $0.15 dividend. The ex-dividend date was 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 $0.12. Western Digital’s dividend payout ratio is 3.58%.

Insider Buying and Selling

In other news, CEO Irving Tan sold 20,000 shares of the stock in a transaction dated 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. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 90,041 shares of the company’s stock, valued at $39,905,270.79. This trade represents a 4.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,322 shares of company stock worth $12,768,550 over the last quarter. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WDC shares. Morgan Stanley increased their price objective on Western Digital from $488.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Barclays upped their price target on Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Jefferies Financial Group set a $575.00 price target on Western Digital in a research note on Tuesday, May 26th. Mizuho lifted their price objective on Western Digital from $550.00 to $685.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $400.00 price objective on shares of Western Digital in a research note on Friday, May 1st. Two 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 company’s stock. Based on data from MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and an average price target of $520.32.

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.