SEB Asset Management AB Invests $25.83 Million in Western Digital Corporation $WDC

SEB Asset Management AB bought a new stake in shares of Western Digital Corporation (NASDAQ:WDC) in the first quarter, Holdings Channel reports. The institutional investor bought 95,487 shares of the data storage provider’s stock, valued at approximately $25,828,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Western Digital by 7.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after purchasing an additional 3,019 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Western Digital by 229.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after buying an additional 967 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Western Digital in the 2nd quarter worth about $307,000. Cresset Asset Management LLC bought a new stake in shares of Western Digital in the 2nd quarter worth about $292,000. Finally, Federated Hermes Inc. raised its position in shares of Western Digital by 55.3% during the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after buying an additional 845 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Cynthia L. Tregillis sold 432 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $545.60, for a total value of $235,699.20. Following the sale, the insider directly owned 116,643 shares in the company, valued at approximately $63,640,420.80. This represents a 0.37% 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, Director Bruce E. Kiddoo sold 750 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director owned 3,903 shares in the company, valued at approximately $2,062,813.56. The trade was a 16.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 29,322 shares of company stock worth $12,768,550. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WDC shares. Barclays increased their price target on shares of Western Digital from $450.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Evercore reissued an “outperform” rating and set a $575.00 price objective on shares of Western Digital in a research note on Tuesday, May 26th. Citigroup upped their price objective on Western Digital from $685.00 to $800.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Sanford C. Bernstein raised Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price objective for the company in a research note on Tuesday, March 31st. Finally, TD Cowen lifted their target price on Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Two equities 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $520.32.

Western Digital News Summary

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

• Positive Sentiment: New coverage says Western Digital is well positioned to benefit from global AI infrastructure growth, with rising demand for advanced memory and storage supporting a stronger long-term revenue outlook. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Another report highlighted Western Digital as one of two smaller AI storage names that could benefit from expanding data center demand, citing improving margins and earnings growth potential. Everyone’s Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: A separate Zacks piece argues AI data growth is accelerating HDD demand and that Western Digital’s focused strategy could help it capture hyperscale storage opportunities. AI Data Growth is Exploding: Can Western Digital Keep Up?
• Neutral Sentiment: Several market wrap-ups noted high volatility in tech and momentum stocks, which is adding noise to trading in Western Digital and other memory names. The Tech Shakeout: Market Extremes & Gavin Baker’s Bold Call
• Neutral Sentiment: Wall Street commentary also flagged Western Digital as part of a broader AI-memory trade, with analysts still generally constructive but market sentiment swinging sharply day to day. Which Storage Stock Is Best Positioned to Win the AI Memory War?
• Negative Sentiment: Multiple reports said Western Digital fell alongside SanDisk and Micron as investors took profits in semiconductor and memory stocks, reflecting sector-wide rotation rather than company-specific trouble. Nasdaq Slips as Chip Stocks Come Under Pressure
• Negative Sentiment: Western Digital also faced a post-rally pullback as traders reassessed how durable the AI-driven storage boom will be ahead of the company’s next earnings report and guidance. Why Western Digital (WDC) Stock Is Down Today

Western Digital Stock Performance

Western Digital stock opened at $477.22 on Monday. Western Digital Corporation has a 12-month low of $66.04 and a 12-month high of $799.87. The firm has a 50-day moving average price of $560.89 and a 200-day moving average price of $386.04. The firm has a market capitalization of $164.49 billion, a PE ratio of 28.49 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the firm posted $1.36 EPS. The firm’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, sell-side analysts predict that Western Digital Corporation will post 9.61 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, June 5th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is a boost from Western Digital’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 5th. Western Digital’s dividend payout ratio (DPR) 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.