Milestone Asset Management LLC Makes New Investment in Western Digital Corporation $WDC

Key Points

• Milestone Asset Management initiated a new position in Western Digital in Q4, buying 16,950 shares valued at about $2.92 million as part of a market where institutional investors now own 92.51% of the stock.
• Significant insider selling occurred: insiders offloaded 92,711 shares worth roughly $24.3 million last quarter, including CEO Irving Tan (20,000 shares, ~$5.11M) and Director Matthew Massengill (36,926 shares, ~$9.62M), leaving insiders with just 0.18% ownership.
• Analyst optimism and strong results are supporting the rally — Barclays and JPMorgan lifted price targets to $405 and $400, respectively, after Western Digital beat quarterly EPS and revenue expectations (EPS $2.13 vs $1.93; revenue $3.02B), with the stock trading near its 52‑week high (~$389.10 vs $402).

Milestone Asset Management LLC bought a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 16,950 shares of the data storage provider's stock, valued at approximately $2,920,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Avion Wealth increased its position in Western Digital by 163.8% in the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider's stock worth $31,000 after purchasing an additional 113 shares during the period. ORG Partners LLC grew its position in shares of Western Digital by 124.5% during the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider's stock worth $25,000 after buying an additional 117 shares during the period. Cullen Frost Bankers Inc. raised its stake in shares of Western Digital by 551.4% during the third quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider's stock worth $29,000 after buying an additional 204 shares during the last quarter. Westfuller Advisors LLC acquired a new position in Western Digital in the third quarter valued at approximately $30,000. Finally, Cornerstone Planning Group LLC boosted its stake in Western Digital by 207.0% in the third quarter. Cornerstone Planning Group LLC now owns 264 shares of the data storage provider's stock valued at $32,000 after acquiring an additional 178 shares during the last quarter. Institutional investors own 92.51% of the company's stock.

Insiders Place Their Bets

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $255.44, for a total transaction of $5,108,800.00. Following the sale, the chief executive officer directly owned 623,586 shares in the company, valued at approximately $159,288,807.84. This trade represents a 3.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Matthew E. Massengill sold 36,926 shares of Western Digital stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $260.43, for a total transaction of $9,616,638.18. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 92,711 shares of company stock worth $24,300,404. Company insiders own 0.18% of the company's stock.

Western Digital Trading Up 1.4%

Shares of NASDAQ WDC opened at $389.10 on Thursday. Western Digital Corporation has a twelve month low of $37.47 and a twelve month high of $402.00. The stock has a market cap of $131.92 billion, a price-to-earnings ratio of 39.03, a P/E/G ratio of 0.81 and a beta of 1.77. The company has a quick ratio of 1.19, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The company's fifty day moving average is $299.66 and its 200-day moving average is $221.92.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The data storage provider reported $2.13 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.20. The business had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.93 billion. Western Digital had a net margin of 35.52% and a return on equity of 41.53%. The firm's quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 EPS. Equities research analysts predict that Western Digital Corporation will post 8.47 EPS for the current year.

Western Digital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Thursday, March 5th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Thursday, March 5th. Western Digital's payout ratio is 5.02%.

Trending Headlines about Western Digital

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

• Positive Sentiment: Barclays raised coverage and bumped WDC’s price target to $405 with an Overweight rating, reinforcing buy‑side momentum and supporting the rally. Barclays raises price target to $405
• Positive Sentiment: JPMorgan increased its price target to $400 and flagged WDC as a top memory/storage idea, lending credibility to the upside case and likely driving inflows. JPMorgan and Morgan Stanley Bullish on Western Digital (WDC)
• Positive Sentiment: Street sentiment has shifted broadly positive (Evercore and others), leaving consensus at a “Moderate Buy” — analyst upgrades are sustaining momentum into new highs. Analyst consensus and Evercore note
• Positive Sentiment: Sector tailwinds: AI‑fueled memory/storage demand is lifting peers (Micron, NAND names) and investors are repricing storage suppliers for stronger near‑term demand and margins. Micron surge / memory demand
• Neutral Sentiment: WD published its FY2025 Sustainability Report highlighting energy‑efficiency and recycled content initiatives — helpful for ESG positioning among large tech buyers but with limited immediate revenue impact. WD FY2025 Sustainability Report
• Neutral Sentiment: Management will present at Barclays, J.P. Morgan and BofA investor conferences in May–June — opportunities for guidance clarity, but informational until new guidance is given. WD to Participate in Upcoming Investor Conferences
• Neutral Sentiment: Memory‑focused ETF flows (first dedicated memory ETF topping ~$1B AUM) are amplifying demand for the group — supportive for WDC as a large‑cap exposure but likely to increase volatility. Memory ETF hits $1B AUM
• Neutral Sentiment: Insider activity: Cynthia Tregillis sold 363 shares at ~$377 under a pre‑arranged Rule 10b5‑1 plan — a very small (<0.5%) trimming of a large holding and not a clear signal of deteriorating fundamentals. Insider sale disclosure
• Negative Sentiment: Valuation concerns: commentary from Zacks and others warns WDC’s rapid run to a 52‑week high may have stretched multiples — risk of a pullback if AI demand or margin assumptions disappoint. Zacks on valuation risks
• Negative Sentiment: Competitive/structural risk: comparisons with NAND‑focused peers (SanDisk) highlight different long‑term end‑market exposures; investors preferring pure NAND plays may cap WDC’s multiple over time. SanDisk vs. Western Digital analysis

Analyst Upgrades and Downgrades

Several brokerages have commented on WDC. Morgan Stanley upped their target price on shares of Western Digital to $380.00 and gave the company an "overweight" rating in a research report on Monday, April 6th. Wedbush reaffirmed an "outperform" rating and set a $325.00 price objective on shares of Western Digital in a research note on Monday, February 9th. Truist Financial set a $310.00 price objective on Western Digital in a report on Tuesday, February 3rd. TD Cowen increased their target price on Western Digital from $200.00 to $325.00 and gave the company a "buy" rating in a research note on Friday, January 30th. Finally, Wall Street Zen cut Western Digital from a "buy" rating to a "hold" rating in a report on Sunday, April 12th. Twenty research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $310.79.

Western Digital Company 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.

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