Waverly Advisors LLC Grows Stock Position in Western Digital Corporation $WDC

Waverly Advisors LLC raised its position in Western Digital Corporation (NASDAQ:WDC) by 27.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,615 shares of the data storage provider’s stock after buying an additional 1,212 shares during the quarter. Waverly Advisors LLC’s holdings in Western Digital were worth $1,519,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. increased its holdings in Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 407 shares during the last quarter. Avion Wealth lifted its holdings in Western Digital by 163.8% during the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 113 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in Western Digital during the first quarter worth about $32,000. Swiss RE Ltd. bought a new position in Western Digital during the fourth quarter worth about $32,000. Finally, BOKF NA increased its stake in shares of Western Digital by 6,700.0% in the third quarter. BOKF NA now owns 272 shares of the data storage provider’s stock worth $33,000 after purchasing an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital News Summary

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

• Positive Sentiment: Memory stocks rallied across the market, with the Roundhill Memory ETF and semiconductor indexes also advancing. Western Digital participated in the sector-wide rebound as investors returned to AI and data-center hardware names. Memory Stocks Surge. SanDisk Tops S&P 500 Gainers
• Positive Sentiment: Analyst commentary argued that a semiconductor oversupply cycle is unlikely before 2028 because the physical infrastructure needed to create excess capacity is not yet available. That view supports continued pricing power and demand for memory and storage products. Top Chip Analyst on Semiconductor Oversupply
• Positive Sentiment: Strong demand for hard drives and tighter global supply expectations are improving the outlook for Western Digital’s revenue, margins and cash generation. Positive results from Seagate also boosted confidence in Western Digital as a storage-industry peer. Why Is Western Digital Stock Surging?
• Neutral Sentiment: Western Digital’s upcoming earnings report is the next major catalyst. Investors will assess whether AI-driven demand, pricing and supply constraints are translating into higher margins and favorable guidance; Wall Street currently expects year-over-year earnings growth. Western Digital Reports Next Week
• Negative Sentiment: Concerns remain about competition from China’s ChangXin Memory Technologies following its strong market debut, while the broader memory trade has experienced sharp volatility. These factors could pressure valuations if investors begin to expect supply growth or weaker pricing.
• Negative Sentiment: Western Digital insider Cynthia Tregillis sold 808 shares worth approximately $428,000 under a pre-arranged Rule 10b5-1 plan. The sale represented only 0.70% of her holdings, making it a limited negative signal. Western Digital Insider Sale

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WDC. Mizuho boosted their price target on shares of Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Bank of America lifted their price objective on shares of Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. The Goldman Sachs Group reissued a “neutral” rating and set a $400.00 target price on shares of Western Digital in a report on Friday, May 1st. Citigroup increased their target price on Western Digital from $685.00 to $800.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Finally, TD Cowen raised their price target on Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $520.32.

Western Digital Trading Up 15.4%

WDC stock opened at $533.04 on Friday. The firm has a 50 day moving average of $566.82 and a 200-day moving average of $406.62. The firm has a market capitalization of $183.73 billion, a P/E ratio of 31.82 and a beta of 2.11. Western Digital Corporation has a 12 month low of $73.14 and a 12 month high of $799.87.

Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the firm posted $1.36 EPS. Western Digital’s revenue was up 45.5% on a year-over-year basis. Sell-side analysts predict that Western Digital Corporation will post 9.61 EPS for the current year.

Insider Transactions at Western Digital

In other Western Digital news, Director Bruce E. Kiddoo sold 750 shares of the company’s 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 transaction, the director directly owned 3,903 shares in the company, valued at $2,062,813.56. This represents a 16.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $443.19, for a total value of $2,071,470.06. Following the completion of the sale, the insider directly owned 90,041 shares in the company, valued at approximately $39,905,270.79. The trade was a 4.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 9,767 shares of company stock valued at $4,822,807. 0.18% of the stock is currently owned by company insiders.

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.