Performance Wealth Partners LLC Acquires Shares of 20,000 Western Digital Corporation $WDC

Performance Wealth Partners LLC acquired a new stake in shares of Western Digital Corporation (NASDAQ:WDC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,000 shares of the data storage provider’s stock, valued at approximately $71,000.

Several other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Western Digital in the 4th quarter worth approximately $788,729,000. Northern Trust Corp boosted its position in shares of Western Digital by 11.2% during the 3rd quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock valued at $456,884,000 after acquiring an additional 384,103 shares during the last quarter. Soroban Capital Partners LP grew its holdings in shares of Western Digital by 1,926.3% in the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock valued at $195,882,000 after purchasing an additional 2,910,062 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Western Digital by 70.4% in the fourth quarter. AQR Capital Management LLC now owns 2,972,703 shares of the data storage provider’s stock valued at $512,107,000 after purchasing an additional 1,228,661 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Western Digital by 6.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,809,409 shares of the data storage provider’s stock worth $483,977,000 after purchasing an additional 159,167 shares during the last quarter. 92.51% of the stock is owned by institutional investors.

Key Headlines 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 Stock Up 5.3%

NASDAQ WDC opened at $536.01 on Tuesday. Western Digital Corporation has a 52 week low of $73.14 and a 52 week high of $799.87. The firm has a market capitalization of $184.75 billion, a price-to-earnings ratio of 22.14 and a beta of 2.14. The company has a fifty day moving average of $556.51 and a two-hundred day moving average of $428.76.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping 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 earned $1.66 earnings per share. The firm’s quarterly 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 EPS for the current year.

Western Digital Dividend Announcement

The business 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 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 payout ratio is currently 2.48%.

Insider Activity at Western Digital

In other news, Director Bruce E. Kiddoo sold 750 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were 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 approximately $2,062,813.56. This represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the completion of the transaction, the chief executive officer directly owned 575,966 shares in the company, valued at $256,287,591.02. This represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,093 shares of company stock valued at $11,650,737 over the last ninety days. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on WDC. UBS Group decreased their price target on shares of Western Digital from $560.00 to $525.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Wall Street Zen cut shares of Western Digital from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Wells Fargo & Company boosted their target price on shares of Western Digital from $575.00 to $730.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Zacks Research upgraded shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Finally, Robert W. Baird set a $630.00 price target on shares of Western Digital in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.