Concurrent Investment Advisors LLC Buys 5,043 Shares of Western Digital Corporation $WDC

Key Points

• Concurrent Investment Advisors increased its Western Digital stake by 43.9% in the second quarter, adding 5,043 shares for a total holding of 16,533 shares valued at approximately $10.56 million. Institutional investors own 92.51% of WDC’s shares.
• Analysts remain broadly optimistic, with Western Digital rated “Moderate Buy” and a consensus price target of $534.56. Recent earnings surpassed expectations, with revenue up 43.8% year over year and quarterly EPS of $3.56 versus the $3.31 consensus.
• AI-driven storage demand and tighter memory supply are supporting the investment case, although elevated valuation and insider selling present risks. CEO Irving Tan and other insiders sold a combined 23,210 shares worth about $10.44 million over the past 90 days.

Concurrent Investment Advisors LLC lifted its stake in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 43.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,533 shares of the data storage provider's stock after acquiring an additional 5,043 shares during the period. Concurrent Investment Advisors LLC's holdings in Western Digital were worth $10,560,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WDC. Handelsbanken Fonder AB lifted its holdings in shares of Western Digital by 71.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 230,578 shares of the data storage provider's stock worth $147,275,000 after purchasing an additional 96,078 shares in the last quarter. Nomura Asset Management Co. Ltd. increased 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 in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Western Digital during the 4th quarter valued at $20,889,000. World Investment Advisors raised its holdings in Western Digital by 145.8% during the fourth quarter. World Investment Advisors now owns 5,950 shares of the data storage provider's stock worth $1,025,000 after buying an additional 3,529 shares during the last quarter. Finally, Win Advisors Inc. bought a new position in shares of Western Digital in the fourth quarter valued at $1,233,000. 92.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WDC shares. Susquehanna lifted their price objective on shares of Western Digital from $360.00 to $500.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Morgan Stanley restated an "overweight" rating and issued a $676.00 target price on shares of Western Digital in a report on Thursday, August 6th. Rosenblatt Securities cut their price target on Western Digital from $900.00 to $800.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Cantor Fitzgerald boosted their price objective on Western Digital from $660.00 to $900.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Finally, Robert W. Baird set a $630.00 price objective on Western Digital in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Western Digital presently has an average rating of "Moderate Buy" and a consensus target price of $534.56.

Key Headlines Impacting Western Digital

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 Transactions at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total value of $8,899,400.00. Following the sale, the chief executive officer owned 575,966 shares of the company's stock, valued at $256,287,591.02. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 1,007 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The shares were 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 in the company, valued at $53,650,465.80. The trade was a 0.89% 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. Insiders sold a total of 23,210 shares of company stock worth $10,440,960 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

Western Digital Stock Up 5.9%

WDC opened at $467.46 on Friday. Western Digital Corporation has a twelve month low of $91.43 and a twelve month high of $799.87. The company's 50-day moving average price is $506.03 and its two-hundred day moving average price is $445.72. The stock has a market cap of $161.12 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 1.87 and a beta of 2.13.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.25. The company had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.70 billion. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. Western Digital's quarterly revenue was up 43.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.66 EPS. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. As a group, sell-side analysts anticipate that Western Digital Corporation will post 19.65 earnings per share for the current year.

Western Digital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Tuesday, September 8th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Tuesday, September 8th. Western Digital's payout ratio 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.

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