Trivest Advisors Ltd Acquires New Holdings in Western Digital Corporation $WDC

Trivest Advisors Ltd bought a new stake in Western Digital Corporation (NASDAQ:WDC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 982,600 shares of the data storage provider’s stock, valued at approximately $627,606,000. Western Digital makes up 19.7% of Trivest Advisors Ltd’s holdings, making the stock its 3rd largest position. Trivest Advisors Ltd owned 0.29% of Western Digital at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Western Digital during the second quarter worth $28,000. Dunhill Financial LLC acquired a new stake in shares of Western Digital during the 2nd quarter valued at $29,000. Gables Capital Management Inc. acquired a new stake in shares of Western Digital during the 2nd quarter valued at $32,000. Ares Financial Consulting LLC boosted its holdings in shares of Western Digital by 45.5% during the 2nd quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock valued at $51,000 after acquiring an additional 25 shares in the last quarter. Finally, Dogwood Wealth Management LLC grew its position in Western Digital by 28.6% during the 2nd quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock worth $57,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 575,966 shares in the company, valued at approximately $256,287,591.02. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 2,475 shares of the business’s stock in a transaction that occurred on 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 owned 85,154 shares in the company, valued at $47,366,060.96. This trade represents a 2.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 24,987 shares of company stock valued at $11,602,097. Insiders own 0.18% of the company’s stock.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Western Digital is benefiting from a shortage of storage products and continued AI-related demand, supporting an optimistic long-term growth outlook. Is Western Digital Stock an Undervalued AI Stock to Buy?
• Positive Sentiment: Momentum-focused analysis continues to identify WDC as an attractive pick, reflecting strong recent performance and favorable investor sentiment toward AI-driven storage demand. Why Western Digital Is a Great Momentum Choice
• Neutral Sentiment: Jim Cramer said it may not be too late to invest in memory and storage stocks, but he also highlighted the sector’s historical boom-and-bust cycles, underscoring the risk of sharp swings in demand and pricing. Jim Cramer Discusses WDC and Other Memory Stocks
• Negative Sentiment: A broader technology selloff pressured WDC and other memory stocks as investors reduced exposure to AI hardware following a Wall Street Journal report about undisclosed AI-related spending commitments. WSJ Report Sends Memory Stocks Lower
• Negative Sentiment: Rising Treasury yields are weighing on high-growth semiconductor and storage shares by increasing discount rates and making richly valued AI trades less attractive, even without a deterioration in memory fundamentals. Higher Rates Test the Memory Boom
• Negative Sentiment: One recent analysis argues that WDC could be substantially overvalued after its strong rally, while uncertainty over whether Apple can source high-bandwidth memory from Chinese suppliers is creating additional volatility around potential demand shifts. Western Digital Could Be Overvalued on Apple China Memory Push

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Bank of America upped their target price on Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Cantor Fitzgerald lifted their price target on Western Digital from $660.00 to $900.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Jefferies Financial Group set a $575.00 price target on Western Digital in a report on Tuesday, May 26th. Wall Street Zen downgraded Western Digital from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, Mizuho set a $590.00 price objective 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 issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $534.56.

Western Digital Stock Down 6.9%

NASDAQ WDC opened at $462.09 on Thursday. The company has a market capitalization of $159.27 billion, a price-to-earnings ratio of 19.09 and a beta of 2.14. Western Digital Corporation has a twelve month low of $73.14 and a twelve month high of $799.87. The stock has a fifty day simple moving average of $555.52 and a 200 day simple moving average of $431.58.

Western Digital (NASDAQ:WDC) last announced its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 EPS for the quarter, topping the consensus estimate of $3.31 by $0.25. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the business earned $1.66 EPS. The business’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. Research analysts expect that Western Digital Corporation will post 19.65 earnings per share for the current fiscal year.

Western Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, September 8th will be paid a $0.15 dividend. 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%.

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.