7,935 Shares in Western Digital Corporation $WDC Acquired by Bull Harbor Capital LLC

Bull Harbor Capital LLC bought a new position in Western Digital Corporation (NASDAQ:WDC) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,935 shares of the data storage provider’s stock, valued at approximately $2,146,000. Western Digital accounts for about 0.6% of Bull Harbor Capital LLC’s investment portfolio, making the stock its 28th largest holding.

Other hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. acquired a new position in shares of Western Digital in the 4th quarter worth approximately $2,270,000. Nomura Asset Management Co. Ltd. raised its stake in Western Digital by 33.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,122,095 shares of the data storage provider’s stock valued at $193,303,000 after purchasing an additional 282,156 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Western Digital in the fourth quarter worth $20,889,000. World Investment Advisors grew its holdings in shares of Western Digital by 145.8% during the fourth quarter. World Investment Advisors now owns 5,950 shares of the data storage provider’s stock valued at $1,025,000 after buying an additional 3,529 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in Western Digital by 62.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 342,516 shares of the data storage provider’s stock worth $59,040,000 after acquiring an additional 131,247 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Western Digital

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

• Positive Sentiment: Strong demand for high-capacity hard drives from cloud providers and data centers, driven by rapidly increasing AI-generated data, is supporting Western Digital’s growth outlook. Tighter global supply could also improve pricing and margins. Why Is Western Digital Stock Surging on Wednesday?
• Positive Sentiment: Seagate’s strong results provided a read-through for Western Digital, reinforcing expectations that demand for enterprise storage remains healthy. Analysts, including Wedbush and Citigroup, have also maintained bullish views and elevated price targets. Seagate, SK Hynix, Ford, Vertiv, and More Stocks That Explain Today’s Market
• Neutral Sentiment: Wall Street expects earnings growth in Western Digital’s next report. Investors will focus on whether AI-related storage demand, supply tightness and pricing power can support results and forward guidance after the stock’s sharp rally. Western Digital Reports Next Week
• Neutral Sentiment: Western Digital previously exceeded quarterly estimates, reporting $2.72 in earnings per share versus a $2.39 consensus and revenue of $3.34 billion, up 45.5% year over year. That performance raises expectations for the upcoming report.
• Negative Sentiment: The broader AI memory trade has suffered a severe sell-off, with investors reducing exposure to high-growth chip and storage names. Western Digital has retreated substantially from its June high, increasing concerns that its valuation may have outpaced near-term fundamentals. The Memory Crash Has 4 Big Stocks Down 30% or More
• Negative Sentiment: Advances in Chinese AI technology and a strong listing by China’s ChangXin Memory Technologies are fueling concerns about future competition and whether current supply constraints will persist. Stocks Extend Slide Amid China’s AI Challenge
• Negative Sentiment: Insider Cynthia Tregillis sold 808 shares for approximately $428,000 under a pre-arranged Rule 10b5-1 plan. The sale reduced her position by only 0.7% and is therefore a limited bearish signal.

Western Digital Stock Down 0.3%

Shares of NASDAQ WDC opened at $462.04 on Thursday. Western Digital Corporation has a 12 month low of $69.30 and a 12 month high of $799.87. The company has a market cap of $159.26 billion, a P/E ratio of 27.58 and a beta of 2.11. The business’s 50 day moving average is $565.89 and its two-hundred day moving average is $404.28.

Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating the consensus estimate of $2.39 by $0.33. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business’s quarterly revenue was up 45.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 EPS. Sell-side analysts expect that Western Digital Corporation will post 9.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

WDC has been the subject of a number of research analyst reports. TD Cowen increased their price target on shares of Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Weiss Ratings raised shares of Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 13th. Morgan Stanley increased their price objective on Western Digital from $488.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Wells Fargo & Company lifted their price target on Western Digital from $575.00 to $730.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Finally, Zacks Research upgraded shares of Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $520.32.

Insider Activity at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $556.24, for a total value of $1,376,694.00. Following the completion of the transaction, the insider directly owned 85,154 shares of the company’s stock, valued at $47,366,060.96. This trade represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the sale, the chief executive officer directly owned 598,150 shares in the company, valued at $246,342,096. This trade represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 29,767 shares of company stock worth $13,059,607 in the last three months. Corporate insiders own 0.18% of the company’s stock.

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.