Western Digital Corporation $WDC Stock Position Lifted by Fred Alger Management LLC

Fred Alger Management LLC raised its stake in Western Digital Corporation (NASDAQ:WDC) by 4,923.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,407,042 shares of the data storage provider’s stock after buying an additional 3,339,225 shares during the quarter. Western Digital accounts for about 1.6% of Fred Alger Management LLC’s holdings, making the stock its 14th biggest position. Fred Alger Management LLC owned approximately 1.00% of Western Digital worth $409,049,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WDC. 44 Wealth Management LLC grew its holdings in shares of Western Digital by 0.8% during the 3rd quarter. 44 Wealth Management LLC now owns 9,329 shares of the data storage provider’s stock valued at $1,120,000 after acquiring an additional 78 shares in the last quarter. Addison Advisors LLC raised its holdings in shares of Western Digital by 7.1% during the third quarter. Addison Advisors LLC now owns 1,281 shares of the data storage provider’s stock worth $154,000 after acquiring an additional 85 shares in the last quarter. Pure Financial Advisors LLC raised its holdings in shares of Western Digital by 3.1% during the third quarter. Pure Financial Advisors LLC now owns 3,583 shares of the data storage provider’s stock worth $430,000 after acquiring an additional 107 shares in the last quarter. Bogart Wealth LLC boosted its position in Western Digital by 57.7% during the third quarter. Bogart Wealth LLC now owns 309 shares of the data storage provider’s stock valued at $37,000 after purchasing an additional 113 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its stake in Western Digital by 3.0% in the third quarter. Dynamic Advisor Solutions LLC now owns 3,871 shares of the data storage provider’s stock valued at $465,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Activity at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 10,148 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $270.31, for a total value of $2,743,105.88. Following the sale, the insider directly owned 107,794 shares in the company, valued at $29,137,796.14. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $9,616,638.18. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 92,795 shares of company stock worth $24,265,884. 0.18% of the stock is owned by insiders.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $272.29 on Monday. The business has a 50 day moving average price of $255.24 and a 200 day moving average price of $179.83. Western Digital Corporation has a twelve month low of $28.83 and a twelve month high of $309.90. The company has a market cap of $92.32 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 0.63 and a beta of 1.75. The company has a quick ratio of 1.19, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.

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

Western Digital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors 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 5.02%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WDC. Citigroup upped their target price on Western Digital to $325.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Morgan Stanley lifted their price target on Western Digital from $260.00 to $306.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Wedbush reissued an “outperform” rating and issued a $325.00 price target on shares of Western Digital in a research note on Monday, February 9th. Weiss Ratings upgraded Western Digital from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 2nd. Finally, The Goldman Sachs Group set a $250.00 price objective on shares of Western Digital in a research report 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 given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $265.58.

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 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.