Concurrent Investment Advisors LLC Boosts Position in Western Digital Corporation $WDC

Concurrent Investment Advisors LLC lifted its position in Western Digital Corporation (NASDAQ:WDC) by 43.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,533 shares of the data storage provider’s stock after buying an additional 5,043 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Western Digital were worth $10,560,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Western Digital in the 4th quarter worth approximately $788,729,000. Northern Trust Corp raised its stake in Western Digital by 11.2% during the third quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock valued at $456,884,000 after buying an additional 384,103 shares during the last quarter. Soroban Capital Partners LP boosted its holdings in Western Digital by 1,926.3% in the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after acquiring an additional 2,910,062 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Western Digital by 70.4% in the fourth quarter. AQR Capital Management LLC now owns 2,972,703 shares of the data storage provider’s stock worth $512,107,000 after acquiring an additional 1,228,661 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Western Digital by 6.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,809,409 shares of the data storage provider’s stock worth $483,977,000 after acquiring an additional 159,167 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.

Key Western Digital News

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

• Positive Sentiment: A broad rally in memory stocks lifted Western Digital alongside SK Hynix and Seagate. Investors appear to be responding to stronger memory pricing, supply tightness and continued demand from artificial-intelligence data centers. SK Hynix Surges 7% as Memory Bid Widens Beyond NAND; Seagate Rallies 5%
• Positive Sentiment: Western Digital’s investment case is supported by AI-driven storage growth, higher hard-disk-drive pricing and expanding margins. Recent earnings also showed revenue growth and earnings above consensus, while management’s next-quarter guidance points to continued momentum. WDC Stock’s Big Rally: Buy, Sell, or Hold After a 70% 6-Month Surge?
• Positive Sentiment: China’s progress in memory manufacturing is not viewed as an immediate threat because Western Digital and peers reportedly have capacity committed under multiyear contracts. That could help protect near-term pricing and margins. Why China’s Memory Chip Breakthrough Won’t Crash the Market
• Neutral Sentiment: Analysts remain broadly constructive, with reported price targets above the current trading level, but the stock’s sharp six-month advance has made expectations demanding. Investors are watching whether future earnings estimates can justify the valuation. WDC Stock’s Big Rally: Buy, Sell, or Hold After a 70% 6-Month Surge?
• Negative Sentiment: Recent insider transactions have consisted of sales rather than purchases, including a director’s sale of roughly $2.5 million in shares. Insider selling and profit-taking previously pressured WDC, while the stock’s elevated valuation leaves it vulnerable if storage-sector momentum fades. Western Digital Falls as Sector Weakness and Insider Selling Weigh on Shares

Insider Activity

In related news, insider Cynthia L. Tregillis sold 1,007 shares of Western Digital stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $478.36, for a total transaction of $481,708.52. Following the sale, the insider owned 112,155 shares of the company’s stock, valued at approximately $53,650,465.80. This trade represents a 0.89% decrease in their position. The sale 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, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total value of $8,899,400.00. Following the completion of the transaction, the chief executive officer directly owned 575,966 shares in the company, valued at approximately $256,287,591.02. This represents a 3.36% decrease in their ownership of the stock. 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 sold 23,210 shares of company stock worth $10,440,960 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

WDC has been the topic of a number of analyst reports. Summit Insights cut shares of Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 6th. Fox Advisors downgraded shares of Western Digital from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Wells Fargo & Company increased their price target on shares of Western Digital from $575.00 to $730.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Melius Research set a $1,050.00 price objective on shares of Western Digital and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, Evercore reaffirmed an “outperform” rating and issued a $575.00 price objective on shares of Western Digital in a research report on Tuesday, May 26th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $534.56.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $467.46 on Friday. The company has a market capitalization of $161.12 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.87 and a beta of 2.13. Western Digital Corporation has a 1-year low of $91.43 and a 1-year high of $799.87. The firm’s 50 day simple moving average is $506.03 and its two-hundred day simple moving average is $445.72.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.25. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the company posted $1.66 earnings per share. The company’s revenue for the quarter 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. On average, sell-side analysts anticipate that Western Digital Corporation will post 19.65 earnings per share for the current fiscal year.

Western Digital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Western Digital’s dividend payout ratio (DPR) is currently 2.48%.

About Western Digital

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.