Strategic Investment Advisors MI Boosts Stake in Western Digital Corporation $WDC

Strategic Investment Advisors MI grew its holdings in Western Digital Corporation (NASDAQ:WDC) by 73.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,690 shares of the data storage provider’s stock after purchasing an additional 1,140 shares during the period. Strategic Investment Advisors MI’s holdings in Western Digital were worth $727,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Ashton Thomas Securities LLC purchased a new stake in Western Digital in the 1st quarter valued at about $221,000. Opal Capital LLC acquired a new position in Western Digital during the first quarter worth $598,000. Sunbelt Securities Inc. lifted its stake in Western Digital by 405.5% during the first quarter. Sunbelt Securities Inc. now owns 278 shares of the data storage provider’s stock worth $75,000 after purchasing an additional 223 shares in the last quarter. Value Aligned Research Advisors LLC purchased a new position in shares of Western Digital during the first quarter worth $350,403,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Western Digital by 20.3% during the first quarter. EverSource Wealth Advisors LLC now owns 8,548 shares of the data storage provider’s stock worth $2,312,000 after buying an additional 1,443 shares during the period. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Trading Up 15.4%

WDC stock opened at $533.04 on Friday. The company’s 50 day moving average is $566.82 and its two-hundred day moving average is $406.62. Western Digital Corporation has a twelve month low of $73.14 and a twelve month high of $799.87. The stock has a market cap of $183.73 billion, a P/E ratio of 31.82 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS 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%.The firm’s revenue was up 45.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 earnings per share. On average, equities research analysts predict that Western Digital Corporation will post 9.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WDC. Wells Fargo & Company boosted their price target on shares of Western Digital from $575.00 to $730.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Rosenblatt Securities raised their price objective on shares of Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Mizuho upped their target price on shares of Western Digital from $550.00 to $685.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. The Goldman Sachs Group reiterated a “neutral” rating and set a $400.00 target price on shares of Western Digital in a report on Friday, May 1st. Finally, Wall Street Zen raised shares of Western Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $520.32.

Insiders Place Their Bets

In other news, Director Bruce E. Kiddoo sold 750 shares of the firm’s 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 directly owned 3,903 shares of the company’s stock, valued at $2,062,813.56. This trade represents a 16.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cynthia L. Tregillis sold 808 shares of the business’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total transaction of $427,941.04. Following the sale, the insider owned 114,539 shares in the company, valued at $60,663,290.57. The trade was a 0.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 9,767 shares of company stock valued at $4,822,807. 0.18% of the stock is owned by company insiders.

Key Western Digital News

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

• Positive Sentiment: Memory stocks rallied across the market, with the Roundhill Memory ETF and semiconductor indexes also advancing. Western Digital participated in the sector-wide rebound as investors returned to AI and data-center hardware names. Memory Stocks Surge. SanDisk Tops S&P 500 Gainers
• Positive Sentiment: Analyst commentary argued that a semiconductor oversupply cycle is unlikely before 2028 because the physical infrastructure needed to create excess capacity is not yet available. That view supports continued pricing power and demand for memory and storage products. Top Chip Analyst on Semiconductor Oversupply
• Positive Sentiment: Strong demand for hard drives and tighter global supply expectations are improving the outlook for Western Digital’s revenue, margins and cash generation. Positive results from Seagate also boosted confidence in Western Digital as a storage-industry peer. Why Is Western Digital Stock Surging?
• Neutral Sentiment: Western Digital’s upcoming earnings report is the next major catalyst. Investors will assess whether AI-driven demand, pricing and supply constraints are translating into higher margins and favorable guidance; Wall Street currently expects year-over-year earnings growth. Western Digital Reports Next Week
• Negative Sentiment: Concerns remain about competition from China’s ChangXin Memory Technologies following its strong market debut, while the broader memory trade has experienced sharp volatility. These factors could pressure valuations if investors begin to expect supply growth or weaker pricing.
• Negative Sentiment: Western Digital insider Cynthia Tregillis sold 808 shares worth approximately $428,000 under a pre-arranged Rule 10b5-1 plan. The sale represented only 0.70% of her holdings, making it a limited negative signal. Western Digital Insider Sale

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.