BDF Gestion Grows Position in Western Digital Corporation $WDC

BDF Gestion lifted its position in Western Digital Corporation (NASDAQ:WDC - Free Report) by 70.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,735 shares of the data storage provider's stock after purchasing an additional 2,369 shares during the period. BDF Gestion's holdings in Western Digital were worth $3,663,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WDC. Rakuten Securities Inc. increased its holdings in Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 407 shares during the period. Avion Wealth lifted its holdings in Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider's stock worth $31,000 after buying an additional 113 shares during the period. Valley Wealth Managers Inc. purchased a new stake in Western Digital in the 1st quarter worth approximately $32,000. Swiss RE Ltd. bought a new stake in shares of Western Digital in the 4th quarter worth approximately $32,000. Finally, BOKF NA grew its position in shares of Western Digital by 6,700.0% in the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider's stock worth $33,000 after buying an additional 268 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Analysts remain broadly optimistic about Western Digital (WDC) after its substantial year-to-date rally. Coverage highlights strong earnings-surprise history, favorable ratings and price targets that generally point to additional upside, although expectations are elevated. Are Wall Street Analysts Predicting Western Digital Stock Will Climb or Sink?
• Positive Sentiment: Investors are looking for WDC to benefit from continued AI-related infrastructure investment and improving enterprise-storage demand. Strong results from rival Seagate have reinforced hopes that Western Digital could deliver a similarly positive earnings update. Should You Buy Western Digital Before Its Earnings Report?
• Neutral Sentiment: Multiple previews say the earnings release could either rekindle investor enthusiasm or trigger a sharp reaction, since the stock has already risen significantly. Key issues include management’s outlook for demand, gross margin expansion and the durability of the AI-storage cycle. Sandisk and Western Digital Are Set to Report Earnings Soon
• Negative Sentiment: Recent weakness across memory and storage stocks reflects profit-taking, valuation concerns and caution ahead of earnings. Investors are also monitoring competition in the memory market and broader semiconductor-sector volatility. Western Digital Slides as Investors Appear to De-Risk Ahead of Earnings
• Negative Sentiment: Reported insider-trading data shows substantial selling by company executives and other insiders over the past six months, with no reported open-market purchases. While such sales may reflect compensation or diversification, they could add to investor caution at elevated valuations.

Western Digital Trading Up 4.0%

Shares of WDC opened at $548.56 on Wednesday. The company's fifty day simple moving average is $569.37 and its 200-day simple moving average is $413.52. The company has a market cap of $189.08 billion, a P/E ratio of 32.75 and a beta of 2.14. Western Digital Corporation has a twelve month low of $73.14 and a twelve month high of $799.87.

Analysts Set New Price Targets

WDC has been the subject of a number of research analyst reports. Cantor Fitzgerald raised their price target on Western Digital from $660.00 to $900.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. Robert W. Baird boosted their price objective on shares of Western Digital from $310.00 to $450.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Weiss Ratings upgraded shares of Western Digital from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, July 13th. Zacks Research upgraded shares of Western Digital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 6th. Finally, Barclays increased their price target on Western Digital from $450.00 to $620.00 and gave the company an "overweight" rating in a report on Wednesday, May 27th. Two research 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 company's stock. According to data from MarketBeat, Western Digital has a consensus rating of "Moderate Buy" and an average target price of $520.32.

Insider Buying and Selling

In other Western Digital news, insider Vidyadhara K. Gubbi sold 2,475 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the completion of the sale, the insider 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 at this hyperlink. Also, insider Cynthia L. Tregillis sold 808 shares of the business's stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $529.63, for a total value of $427,941.04. Following the transaction, the insider owned 114,539 shares of the company's stock, valued at $60,663,290.57. This trade represents a 0.70% 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 5,093 shares of company stock valued at $2,751,337 in the last ninety days. 0.18% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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