WT Asset Management Ltd Invests $500.89 Million in Western Digital Corporation $WDC

WT Asset Management Ltd purchased a new position in Western Digital Corporation (NASDAQ:WDC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 784,212 shares of the data storage provider’s stock, valued at approximately $500,892,000. Western Digital makes up about 9.9% of WT Asset Management Ltd’s investment portfolio, making the stock its 3rd largest holding. WT Asset Management Ltd owned 0.23% of Western Digital at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new position in shares of Western Digital in the 2nd quarter worth approximately $80,000. Focused Alpha LLC acquired a new stake in shares of Western Digital during the 2nd quarter valued at approximately $254,000. Paladin Partners LLC bought a new position in Western Digital during the second quarter worth $160,000. Dunhill Financial LLC bought a new position in Western Digital during the second quarter worth $29,000. Finally, Pallas Capital Advisors LLC acquired a new position in Western Digital in the second quarter worth $5,438,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of the stock in a transaction on 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 sale, the chief executive officer owned 575,966 shares in the company, valued at approximately $256,287,591.02. This represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 808 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total value of $427,941.04. Following the sale, the insider directly owned 114,539 shares of the company’s stock, valued at approximately $60,663,290.57. This represents a 0.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 25,093 shares of company stock valued at $11,650,737. 0.18% of the stock is currently owned by corporate insiders.

Western Digital News Roundup

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

Wall Street Analyst Weigh In

WDC has been the topic of a number of recent research reports. Mizuho set a $590.00 price target on shares of Western Digital in a research report on Thursday, August 6th. Susquehanna upped their price objective on Western Digital from $360.00 to $500.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Citigroup dropped their target price on Western Digital from $800.00 to $740.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $676.00 price objective on shares of Western Digital in a report on Thursday, August 6th. Finally, Zacks Research upgraded shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Two investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $534.56.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $536.01 on Tuesday. The stock has a market cap of $184.75 billion, a price-to-earnings ratio of 22.14 and a beta of 2.14. Western Digital Corporation has a 12 month low of $73.14 and a 12 month high of $799.87. The stock’s 50 day moving average price is $556.51 and its 200 day moving average price is $428.76.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the firm earned $1.66 EPS. The firm’s revenue for the quarter was up 43.8% on a year-over-year basis. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. On average, sell-side analysts expect that Western Digital Corporation will post 19.65 EPS for the current year.

Western Digital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Tuesday, September 8th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. 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.