BlackRock Amends Western Digital Stake; Signals Portfolio Shift
Ticker: WDC · Form: SC 13G/A · Filed: Jan 25, 2024 · CIK: 106040
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, portfolio-update
TL;DR
**BlackRock updated its Western Digital holdings, watch for market reaction.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 25, 2024, indicating a change in their ownership of Western Digital Corp. common stock as of December 31, 2023. This amendment, number 10, shows BlackRock's updated stake in the computer storage device company. This matters to investors because BlackRock is a major institutional investor, and changes in their holdings can signal their confidence (or lack thereof) in Western Digital's future performance, potentially influencing other investors' decisions.
Why It Matters
Changes in large institutional holdings like BlackRock's can influence market sentiment and stock prices, as other investors often follow the lead of major players.
Risk Assessment
Risk Level: low — This filing is a routine update from a large institutional investor and does not indicate any immediate, significant risk to the company.
Analyst Insight
Investors should review the full SC 13G/A filing to understand the exact change in BlackRock's ownership percentage and consider how this might align with their own investment thesis for Western Digital Corp.
Key Players & Entities
- BlackRock Inc. (company) — the reporting person, a major institutional investor
- Western Digital Corp. (company) — the subject company, a computer storage device manufacturer
- December 31, 2023 (date) — the date of the event requiring the filing
- January 25, 2024 (date) — the filing date of the SC 13G/A
- 958102105 (number) — the CUSIP number for Western Digital Corp. Common Stock
Forward-Looking Statements
- BlackRock's updated stake in Western Digital will be closely watched by other institutional investors. (BlackRock Inc.) — high confidence, target: Q1 2024
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as stated in the 'FORM TYPE: SC 13G/A' and 'SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 10)' sections.
Who is the reporting person in this filing?
The reporting person is BlackRock Inc., as indicated under 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc.' and '(1)Names of reporting persons. BlackR'.
What is the subject company of this filing?
The subject company is WESTERN DIGITAL CORP, as stated under 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WESTERN DIGITAL CORP' and 'WESTERN DIGITAL CORP (Name of Issuer)'.
What was the date of the event that triggered this filing?
The date of the event which requires the filing of this statement was December 31, 2023, as specified under '(Date of Event Which Requires Filing of this Statement)'.
What is the CUSIP number for the securities discussed in this filing?
The CUSIP number for the Common Stock of Western Digital Corp. is 958102105, as listed under 'CUSIP No. 958102105'.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 25, 2024 regarding WESTERN DIGITAL CORP (WDC).