L2 Asset Management LLC Invests $1.23 Million in Western Digital Corporation $WDC

L2 Asset Management LLC bought a new stake in Western Digital Corporation (NASDAQ:WDC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,923 shares of the data storage provider’s stock, valued at approximately $1,228,000.

Other large investors have also added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its holdings in Western Digital by 71.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 230,578 shares of the data storage provider’s stock worth $147,275,000 after purchasing an additional 96,078 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Western Digital by 33.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,122,095 shares of the data storage provider’s stock valued at $193,303,000 after buying an additional 282,156 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Western Digital during the fourth quarter worth approximately $20,889,000. World Investment Advisors grew its position in shares of Western Digital by 145.8% during the fourth quarter. World Investment Advisors now owns 5,950 shares of the data storage provider’s stock worth $1,025,000 after buying an additional 3,529 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in shares of Western Digital by 62.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 342,516 shares of the data storage provider’s stock worth $59,040,000 after buying an additional 131,247 shares during the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Western Digital

In related news, insider Cynthia L. Tregillis sold 684 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $446.17, for a total transaction of $305,180.28. Following the sale, the insider owned 112,146 shares in the company, valued at $50,036,180.82. This represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, insider Vidyadhara K. Gubbi sold 2,475 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the completion of the transaction, the insider directly owned 85,154 shares in the company, valued at $47,366,060.96. This represents a 2.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 25,598 shares of company stock worth $11,868,944 in the last ninety days. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

WDC has been the topic of a number of research analyst reports. Robert W. Baird set a $630.00 price objective on shares of Western Digital in a research note on Thursday, August 6th. Wall Street Zen lowered shares of Western Digital from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. UBS Group dropped their target price on shares of Western Digital from $560.00 to $525.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Bank of America increased their price target on shares of Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, Melius Research set a $1,050.00 price target on shares of Western Digital and gave the stock a “buy” rating in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Western Digital currently has a consensus rating of “Moderate Buy” and a consensus target price of $534.56.

Western Digital Price Performance

Western Digital stock opened at $435.38 on Tuesday. The company has a market cap of $150.07 billion, a PE ratio of 17.98 and a beta of 2.14. The company has a fifty day moving average price of $547.88 and a two-hundred day moving average price of $435.48. Western Digital Corporation has a 12 month low of $76.70 and a 12 month high of $799.87.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share 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 firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the firm earned $1.66 earnings per share. The firm’s revenue for the quarter 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 year.

Western Digital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, September 8th will be given a dividend of $0.15 per share. 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 is currently 2.48%.

Trending Headlines about Western Digital

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

• Positive Sentiment: Western Digital’s latest quarterly results exceeded expectations, with earnings of $3.56 per share, revenue of $3.75 billion and year-over-year revenue growth of approximately 44%. Analysts say accelerating AI and cloud-storage demand, improving margins and the planned ramp of 40TB drives and HAMR technology support the company’s fiscal 2027 outlook. WDC’s Strong Q4 Raises the Stakes for Its Fiscal 2027 Product Ramp
• Positive Sentiment: Some commentary continues to view WDC as attractively positioned for growth because AI data centers require increasing storage capacity. However, the bullish case depends on successful product execution and sustained cloud spending. Western Digital: Time To Jump In Before Beast Mode Arrives Again
• Neutral Sentiment: Western Digital will participate in Citi’s 2026 Global TMT Conference on September 9. Management’s presentation could provide additional commentary on demand, pricing and the fiscal 2027 product ramp, but the announcement itself contains no new financial guidance. WD to Participate in Upcoming Investor Conference
• Neutral Sentiment: Director Cynthia L. Tregillis sold a combined 919 shares under a pre-arranged Rule 10b5-1 trading plan. The sales represent a small reduction in her holdings and are less significant as a bearish signal because they were scheduled in advance. SEC insider transaction filing
• Negative Sentiment: Investors have rotated out of high-performing AI-chip and memory names ahead of Nvidia’s earnings report, weighing on WDC along with Micron and Seagate even though underlying storage demand remains firm. Micron, Seagate, Western Digital, Semtech, and Penguin Solutions Shares Are Falling
• Negative Sentiment: Reports that Apple may source memory chips from Chinese suppliers have intensified concerns about competition and future pricing across the memory industry. WDC’s premium valuation, concentration in cloud customers and the need to execute its product ramp add to investor caution. Memory Stocks Slide on Report Apple May Source Chinese Chips

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.