Trivest Advisors Ltd Makes New Investment in Western Digital Corporation $WDC

Trivest Advisors Ltd acquired a new position in Western Digital Corporation (NASDAQ:WDC) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 982,600 shares of the data storage provider’s stock, valued at approximately $627,606,000. Western Digital comprises approximately 19.7% of Trivest Advisors Ltd’s holdings, making the stock its 3rd largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Western Digital by 7.7% in 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 buying an additional 3,019 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Western Digital by 229.7% during 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 acquired a new stake in shares of Western Digital during the 2nd quarter worth approximately $307,000. Cresset Asset Management LLC acquired a new stake in shares of Western Digital during the 2nd quarter worth approximately $292,000. Finally, Federated Hermes Inc. increased its stake in shares of Western Digital by 55.3% in the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after acquiring an additional 845 shares in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Western Digital

In other news, insider Cynthia L. Tregillis sold 808 shares of Western Digital stock in a transaction dated 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 directly owned 114,539 shares in the company, valued at $60,663,290.57. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the sale, the director directly owned 3,903 shares of the company’s stock, 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. Insiders have sold 24,987 shares of company stock valued at $11,602,097 over the last three months. Corporate insiders own 0.18% of the company’s stock.

Western Digital Stock Down 6.9%

Shares of NASDAQ:WDC opened at $462.09 on Thursday. Western Digital Corporation has a twelve month low of $73.14 and a twelve month high of $799.87. The stock’s 50 day moving average is $555.52 and its 200-day moving average is $431.58. The firm has a market capitalization of $159.27 billion, a price-to-earnings ratio of 19.09 and a beta of 2.14.

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

Western Digital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Western Digital’s dividend payout ratio (DPR) is 2.48%.

More Western Digital News

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WDC shares. JPMorgan Chase & Co. boosted their target price on shares of Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. The Goldman Sachs Group restated a “neutral” rating and issued a $400.00 price target on shares of Western Digital in a report on Friday, May 1st. Weiss Ratings downgraded shares of Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. UBS Group dropped their price objective on shares of Western Digital from $560.00 to $525.00 and set a “neutral” rating on the stock in a report on Thursday, August 6th. Finally, TD Cowen increased their price objective on shares of Western Digital from $500.00 to $540.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $534.56.

Western Digital 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.