WT Asset Management Ltd Makes New Investment in Western Digital Corporation $WDC

WT Asset Management Ltd purchased a new stake in Western Digital Corporation (NASDAQ:WDC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 784,212 shares of the data storage provider’s stock, valued at approximately $500,892,000. Western Digital accounts for about 9.9% of WT Asset Management Ltd’s investment portfolio, making the stock its 3rd biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDC. IMG Wealth Management Inc. bought a new position in Western Digital in the 2nd quarter worth $80,000. Focused Alpha LLC bought a new position in shares of Western Digital in the second quarter worth about $254,000. Paladin Partners LLC acquired a new stake in Western Digital in the 2nd quarter valued at approximately $160,000. Dunhill Financial LLC bought a new position in Western Digital in the 2nd quarter worth approximately $29,000. Finally, Pallas Capital Advisors LLC acquired a new position in shares of Western Digital during the second quarter worth approximately $5,438,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WDC has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $400.00 target price on shares of Western Digital in a research note on Friday, May 1st. Susquehanna increased their target price on shares of Western Digital from $360.00 to $500.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Rosenblatt Securities lowered their price target on Western Digital from $900.00 to $800.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Melius Research set a $1,050.00 price objective on Western Digital and gave the stock a “buy” rating in a research report on Monday, June 29th. Finally, UBS Group lowered their price objective on Western Digital from $560.00 to $525.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Two investment 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $534.56.

Insider Activity

In related news, CEO Irving Tan sold 20,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 575,966 shares in the company, valued at $256,287,591.02. This trade represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $528.52, for a total transaction of $396,390.00. Following the transaction, the director directly owned 3,903 shares of the company’s stock, valued at $2,062,813.56. This represents 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 a total of 25,093 shares of company stock worth $11,650,737 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Improving fundamentals supported the move higher. Expanding margins and a forecast-beating outlook gave Western Digital-specific support beyond the broader storage-sector rally. The company recently exceeded quarterly EPS and revenue estimates, while revenue grew sharply year over year. Western Digital Stock Jumps Over 6% as Memory Rally Accelerates
• Positive Sentiment: Analyst earnings estimates are being revised upward. Recent estimate revisions suggest expectations for Western Digital’s earnings are improving, potentially supporting additional near-term share-price momentum. Can Western Digital Run Higher on Rising Earnings Estimates?
• Positive Sentiment: AI-related storage demand and pricing tailwinds remain key catalysts. Western Digital is entering fiscal 2027 with expectations for strong end-market demand, better pricing, cloud growth tied to artificial intelligence, and a recovery in its hard-disk-drive business. Can Strong End Markets and Pricing Tailwinds Keep WDC’s Momentum Alive?
• Positive Sentiment: A broad memory-sector rally lifted sentiment. Elon Musk’s comments about a potential memory bottleneck, along with strong long-term expectations for peer SanDisk, helped boost storage and memory stocks, including WDC. Political developments cited by market coverage also contributed to the positive tone. SanDisk Rallies, Western Digital Rises, and Micron Gains as Elon Musk Flags a Memory Bottleneck
• Neutral Sentiment: Amazon discounted a WD-branded 5TB My Passport portable hard drive. The promotion may support consumer visibility but is unlikely to materially affect Western Digital’s investment outlook. Amazon Clears Out WD 5TB My Passport Portable External Hard Drive
• Negative Sentiment: Wall Street Zen lowered its rating on Western Digital, providing a counterpoint to the more optimistic earnings and industry-demand signals. Western Digital Stock Rating Lowered by Wall Street Zen

Western Digital Trading Up 5.3%

NASDAQ WDC opened at $536.01 on Tuesday. Western Digital Corporation has a 1-year low of $73.14 and a 1-year high of $799.87. The company has a market capitalization of $184.75 billion, a price-to-earnings ratio of 22.14 and a beta of 2.14. The stock’s 50 day moving average is $556.51 and its two-hundred day moving average is $428.76.

Western Digital (NASDAQ:WDC) last issued 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 business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.Western Digital’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.66 EPS. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. On average, analysts predict that Western Digital Corporation will post 19.65 earnings per share for the current year.

Western Digital Announces Dividend

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

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.