EverSource Wealth Advisors LLC Has $2.31 Million Stock Position in Western Digital Corporation $WDC

EverSource Wealth Advisors LLC lifted its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 20.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,548 shares of the data storage provider’s stock after buying an additional 1,443 shares during the period. EverSource Wealth Advisors LLC’s holdings in Western Digital were worth $2,312,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new position in Western Digital in the 4th quarter valued at about $2,270,000. Nomura Asset Management Co. Ltd. grew its holdings in Western Digital by 33.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,122,095 shares of the data storage provider’s stock worth $193,303,000 after acquiring an additional 282,156 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Western Digital in the fourth quarter valued at about $20,889,000. World Investment Advisors boosted its holdings 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 purchasing an additional 3,529 shares during the period. Finally, Pictet Asset Management Holding SA grew 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 purchasing an additional 131,247 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

WDC has been the subject of a number of recent analyst reports. Jefferies Financial Group set a $575.00 price target on Western Digital in a research report on Tuesday, May 26th. Mizuho lifted their price target on shares of Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a report on Monday, June 8th. JPMorgan Chase & Co. boosted their price target 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. Evercore reaffirmed an “outperform” rating and set a $575.00 target price on shares of Western Digital in a research note on Tuesday, May 26th. Finally, Wall Street Zen raised shares of Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two research 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 stock. Based on data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and a consensus price target of $520.32.

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $462.04 on Thursday. The company has a market cap of $159.26 billion, a P/E ratio of 27.58 and a beta of 2.11. The firm’s fifty day moving average is $565.89 and its two-hundred day moving average is $404.28. Western Digital Corporation has a 52-week low of $69.30 and a 52-week high of $799.87.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. The business’s revenue was up 45.5% on a year-over-year basis. As a group, analysts forecast that Western Digital Corporation will post 9.61 EPS for the current fiscal year.

Trending Headlines about Western Digital

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

• Positive Sentiment: Strong demand for high-capacity hard drives from cloud providers and data centers, driven by rapidly increasing AI-generated data, is supporting Western Digital’s growth outlook. Tighter global supply could also improve pricing and margins. Why Is Western Digital Stock Surging on Wednesday?
• Positive Sentiment: Seagate’s strong results provided a read-through for Western Digital, reinforcing expectations that demand for enterprise storage remains healthy. Analysts, including Wedbush and Citigroup, have also maintained bullish views and elevated price targets. Seagate, SK Hynix, Ford, Vertiv, and More Stocks That Explain Today’s Market
• Neutral Sentiment: Wall Street expects earnings growth in Western Digital’s next report. Investors will focus on whether AI-related storage demand, supply tightness and pricing power can support results and forward guidance after the stock’s sharp rally. Western Digital Reports Next Week
• Neutral Sentiment: Western Digital previously exceeded quarterly estimates, reporting $2.72 in earnings per share versus a $2.39 consensus and revenue of $3.34 billion, up 45.5% year over year. That performance raises expectations for the upcoming report.
• Negative Sentiment: The broader AI memory trade has suffered a severe sell-off, with investors reducing exposure to high-growth chip and storage names. Western Digital has retreated substantially from its June high, increasing concerns that its valuation may have outpaced near-term fundamentals. The Memory Crash Has 4 Big Stocks Down 30% or More
• Negative Sentiment: Advances in Chinese AI technology and a strong listing by China’s ChangXin Memory Technologies are fueling concerns about future competition and whether current supply constraints will persist. Stocks Extend Slide Amid China’s AI Challenge
• Negative Sentiment: Insider Cynthia Tregillis sold 808 shares for approximately $428,000 under a pre-arranged Rule 10b5-1 plan. The sale reduced her position by only 0.7% and is therefore a limited bearish signal.

Insider Buying and Selling at Western Digital

In other news, insider Cynthia L. Tregillis sold 808 shares of the company’s 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 sale, the insider directly owned 114,539 shares in the company, valued at approximately $60,663,290.57. This represents a 0.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction dated 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 transaction, the director owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This represents a 16.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 29,767 shares of company stock valued at $13,059,607. 0.18% of the stock is owned by company 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.