E Fund Management Co. Ltd. Buys Shares of 30,057 Western Digital Corporation $WDC

E Fund Management Co. Ltd. acquired a new position in shares of Western Digital Corporation (NASDAQ:WDC) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 30,057 shares of the data storage provider’s stock, valued at approximately $19,198,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Western Digital in the second quarter valued at $703,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Western Digital during the second quarter worth about $546,000. Trivest Advisors Ltd acquired a new position in shares of Western Digital during the second quarter worth about $627,606,000. Csenge Advisory Group purchased a new stake in shares of Western Digital during the second quarter worth approximately $1,267,000. Finally, Shepherd Financial Partners LLC purchased a new stake in shares of Western Digital during the second quarter worth approximately $406,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WDC has been the subject of a number of research analyst reports. Cantor Fitzgerald upped their price target on Western Digital from $660.00 to $900.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $676.00 price objective on shares of Western Digital in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Bank of America upped their price target on Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Finally, Fox Advisors cut shares of Western Digital from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $534.56.

Trending Headlines about Western Digital

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

• Positive Sentiment: Western Digital is benefiting from a shortage of storage products and continued AI-related demand, supporting an optimistic long-term growth outlook. Is Western Digital Stock an Undervalued AI Stock to Buy?
• Positive Sentiment: Momentum-focused analysis continues to identify WDC as an attractive pick, reflecting strong recent performance and favorable investor sentiment toward AI-driven storage demand. Why Western Digital Is a Great Momentum Choice
• Neutral Sentiment: Jim Cramer said it may not be too late to invest in memory and storage stocks, but he also highlighted the sector’s historical boom-and-bust cycles, underscoring the risk of sharp swings in demand and pricing. Jim Cramer Discusses WDC and Other Memory Stocks
• Negative Sentiment: A broader technology selloff pressured WDC and other memory stocks as investors reduced exposure to AI hardware following a Wall Street Journal report about undisclosed AI-related spending commitments. WSJ Report Sends Memory Stocks Lower
• Negative Sentiment: Rising Treasury yields are weighing on high-growth semiconductor and storage shares by increasing discount rates and making richly valued AI trades less attractive, even without a deterioration in memory fundamentals. Higher Rates Test the Memory Boom
• Negative Sentiment: One recent analysis argues that WDC could be substantially overvalued after its strong rally, while uncertainty over whether Apple can source high-bandwidth memory from Chinese suppliers is creating additional volatility around potential demand shifts. Western Digital Could Be Overvalued on Apple China Memory Push

Western Digital Trading Down 6.9%

Western Digital stock opened at $462.09 on Thursday. The stock has a 50-day moving average price of $555.52 and a 200 day moving average price of $431.58. Western Digital Corporation has a 52 week low of $73.14 and a 52 week high of $799.87. The stock has a market cap of $159.27 billion, a PE ratio of 19.09 and a beta of 2.14.

Western Digital (NASDAQ:WDC) last announced its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.25. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.70 billion. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. Western Digital’s revenue was up 43.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.66 earnings per share. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. On average, equities analysts predict that Western Digital Corporation will post 19.65 EPS for the current year.

Western Digital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, September 8th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital’s dividend payout ratio is currently 2.48%.

Insider Buying and Selling

In other news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the transaction, the chief executive officer directly owned 575,966 shares of the company’s stock, valued at approximately $256,287,591.02. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 808 shares of the company’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $529.63, for a total transaction of $427,941.04. Following the completion of the transaction, the insider owned 114,539 shares of the company’s stock, valued at $60,663,290.57. This trade represents a 0.70% decrease in their ownership of the stock. 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. Insiders have sold a total of 24,987 shares of company stock worth $11,602,097 in the last ninety days. 0.18% of the stock is owned by corporate insiders.

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.