Lansforsakringar Fondforvaltning AB publ Has $11.22 Million Stock Holdings in Western Digital Corporation $WDC

Lansforsakringar Fondforvaltning AB publ lifted its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 38.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,491 shares of the data storage provider’s stock after purchasing an additional 11,416 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Western Digital were worth $11,223,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Rakuten Securities Inc. raised its holdings in Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 407 shares during the period. Avion Wealth boosted its holdings in Western Digital by 163.8% during the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 113 shares during the period. Swiss RE Ltd. acquired a new stake in shares of Western Digital in the fourth quarter valued at about $32,000. BOKF NA grew its position in shares of Western Digital by 6,700.0% in the third quarter. BOKF NA now owns 272 shares of the data storage provider’s stock valued at $33,000 after purchasing an additional 268 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new stake in shares of Western Digital in the third quarter valued at about $33,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of the company’s 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 owned 598,150 shares of the company’s stock, valued at $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $545.60, for a total transaction of $235,699.20. Following the completion of the transaction, the insider directly owned 116,643 shares of the company’s stock, valued at $63,640,420.80. This trade represents a 0.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 29,322 shares of company stock worth $12,768,550. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

WDC has been the subject of several recent analyst reports. Bank of America increased their target price on Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group set a $575.00 price target on Western Digital in a report on Tuesday, May 26th. Rosenblatt Securities increased their price objective on Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Citigroup raised their price objective on shares of Western Digital from $500.00 to $685.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, Barclays boosted their target price on shares of Western Digital from $450.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and an average target price of $493.52.

Trending Headlines about Western Digital

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

• Positive Sentiment: Bank of America raised its price target on Western Digital to $732 from $610 and kept a buy rating, implying meaningful upside from current levels. Benzinga
• Positive Sentiment: Melius Research upgraded Western Digital to strong-buy, reinforcing the bullish analyst view on the stock. Zacks.com
• Positive Sentiment: An analyst fair value estimate was reset higher to $584.79 from $518.26 as models were updated for AI storage demand, HDD pricing, and Western Digital’s product roadmap. Yahoo Finance
• Neutral Sentiment: The stock’s move is also part of a broader memory-sector pullback, with Micron and SanDisk also declining as the Nasdaq weakens. 247WallSt

Western Digital Stock Down 6.3%

Western Digital stock opened at $598.37 on Thursday. The business has a 50 day moving average price of $533.61 and a two-hundred day moving average price of $355.37. Western Digital Corporation has a 12 month low of $63.01 and a 12 month high of $799.87. The stock has a market cap of $206.25 billion, a price-to-earnings ratio of 35.72 and a beta of 2.10.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.33. The company had revenue of $3.34 billion for 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%.Western Digital’s revenue for the quarter was up 45.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, analysts expect that Western Digital Corporation will post 9.6 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.1%. This is a positive change from Western Digital’s previous quarterly dividend of $0.12. Western Digital’s dividend payout ratio is currently 3.58%.

Western Digital Company 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.