Boothbay Fund Management LLC Grows Stock Holdings in Western Digital Corporation $WDC

Boothbay Fund Management LLC increased its holdings in shares of Western Digital Corporation (NASDAQ:WDC) by 172.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,814 shares of the data storage provider’s stock after purchasing an additional 67,040 shares during the quarter. Boothbay Fund Management LLC’s holdings in Western Digital were worth $12,704,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WDC. Vanguard Group Inc. grew its stake in Western Digital by 0.6% during the third quarter. Vanguard Group Inc. now owns 43,282,393 shares of the data storage provider’s stock valued at $5,196,484,000 after acquiring an additional 243,177 shares in the last quarter. Geode Capital Management LLC lifted its stake in Western Digital by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 9,305,289 shares of the data storage provider’s stock worth $593,045,000 after purchasing an additional 186,030 shares in the last quarter. WCM Investment Management LLC purchased a new stake in Western Digital in the 3rd quarter worth $791,317,000. Holocene Advisors LP boosted its holdings in shares of Western Digital by 8.5% during the 2nd quarter. Holocene Advisors LP now owns 5,535,972 shares of the data storage provider’s stock valued at $354,247,000 after purchasing an additional 431,419 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Western Digital by 11.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,804,907 shares of the data storage provider’s stock valued at $456,737,000 after purchasing an additional 402,981 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Insider Transactions at Western Digital

In other news, Director Matthew E. Massengill sold 36,926 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $260.43, for a total value of $9,616,638.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cynthia L. Tregillis sold 9,324 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $268.27, for a total transaction of $2,501,349.48. Following the sale, the insider directly owned 121,682 shares in the company, valued at approximately $32,643,630.14. The trade was a 7.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 92,795 shares of company stock worth $24,265,884 in the last 90 days. 0.18% of the stock is owned by company insiders.

Key Western Digital News

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

• Positive Sentiment: Investor focus on tight high-capacity HDD supply for cloud/AI workloads and Western Digital’s expanded $4.0 billion share-repurchase authorization is supporting the rally; the company’s Innovation Day roadmap (40TB UltraSMR ePMR HDD in hyperscaler qualification) reinforces the growth narrative for AI storage. Western Digital (WDC) rises 3.5% as AI-storage demand narrative and recent buyback authorization continue to support shares
• Positive Sentiment: Customer narrative pieces highlight strong enterprise demand for hard drives, which backs the thesis that nearline/HDD capacity remains tight and pricing power could persist. Customer Narrative on Hard Drives Bodes Well for Western Digital (WDC)
• Positive Sentiment: Analyst sentiment and relative performance remain constructive: WDC has materially outperformed the broader tech sector over the past year and multiple brokers maintain bullish ratings and elevated price targets, which provides momentum and buy-side interest. How Is Western Digital’s Stock Performance Compared to Other Technology Stocks?
• Positive Sentiment: Media commentators (e.g., Jim Cramer) have included WDC on watchlists as a name to buy on market dips, which can amplify flows when broader-market pullbacks occur. Cramer: Buy Western Digital, Micron, Seagate on oil-driven dips
• Neutral Sentiment: Partnership/solution announcements (e.g., VDURA combining WD Ultrastar hybrid platforms with cloud-scale AI file architecture) extend product reach but are incremental until they produce visible revenue/contract wins. VDURA to Combine Scalable WD Ultrastar Hybrid Storage Platforms with Cloud-Scale AI File Architecture
• Negative Sentiment: Insider selling has been heavy recently (multiple exec sales reported), which can be interpreted negatively by some investors and may weigh on sentiment despite company-level buybacks. Western Digital (WDC) rises 3.5% as AI-storage demand narrative and recent buyback authorization continue to support shares
• Negative Sentiment: Macro pressure from rising oil and choppy futures can drag broader tech names; recent headlines show futures slipping as oil jumps, which can trigger short-term volatility for WDC. Dow Jones Futures Fall As Oil Prices Run Past $90; Oracle, Nvidia Lift These AI Names
• Negative Sentiment: Short-term pullbacks have occurred (coverage noting WDC fell more than the broader market), so momentum can reverse quickly after a sharp rally — watch valuation and volume on moves. Western Digital (WDC) Falls More Steeply Than Broader Market: What Investors Need to Know

Western Digital Price Performance

Shares of WDC stock opened at $272.29 on Friday. Western Digital Corporation has a twelve month low of $28.83 and a twelve month high of $309.90. The company has a current ratio of 1.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $255.24 and a two-hundred day simple moving average of $179.13. The stock has a market capitalization of $92.32 billion, a price-to-earnings ratio of 27.31, a P/E/G ratio of 0.63 and a beta of 1.76.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, January 29th. The data storage provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.20. Western Digital had a net margin of 35.52% and a return on equity of 41.53%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.93 billion. Western Digital’s revenue was up 25.2% compared to the same quarter last year. During the same period last year, the company posted $1.77 earnings per share. On average, analysts predict that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Thursday, March 5th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $0.50 dividend on an annualized basis and a yield of 0.2%. Western Digital’s payout ratio is currently 5.02%.

Analyst Ratings Changes

WDC has been the topic of a number of research reports. Argus set a $300.00 price objective on Western Digital in a research note on Tuesday, February 3rd. Wedbush reiterated an “outperform” rating and set a $325.00 target price on shares of Western Digital in a research report on Monday, February 9th. Wall Street Zen lowered shares of Western Digital from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. TD Cowen boosted their price target on shares of Western Digital from $200.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Truist Financial set a $310.00 price target on shares of Western Digital in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $265.58.

Western Digital Company 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.