Opal Capital LLC Takes Position in Western Digital Corporation $WDC

Opal Capital LLC bought a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,211 shares of the data storage provider's stock, valued at approximately $598,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Western Digital by 7.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider's stock valued at $1,698,000 after buying an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Western Digital by 229.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider's stock worth $56,000 after acquiring an additional 967 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Western Digital during the 2nd quarter worth approximately $307,000. Cresset Asset Management LLC bought a new stake in Western Digital in the 2nd quarter valued at $292,000. Finally, Federated Hermes Inc. raised its stake in Western Digital by 55.3% in the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider's stock valued at $152,000 after acquiring an additional 845 shares during the period. Institutional investors own 92.51% of the company's stock.

Western Digital Price Performance

WDC opened at $463.51 on Wednesday. The business has a fifty day simple moving average of $565.84 and a 200 day simple moving average of $402.35. The company has a market capitalization of $159.76 billion, a PE ratio of 27.67 and a beta of 2.11. Western Digital Corporation has a 1 year low of $69.30 and a 1 year high of $799.87.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period in the prior year, the firm posted $1.36 EPS. The company's revenue for the quarter was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities analysts anticipate that Western Digital Corporation will post 9.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Western Digital

In other Western Digital news, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director owned 3,903 shares in the company, valued at $2,062,813.56. The trade was a 16.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the business's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the completion of the sale, the insider directly owned 90,041 shares of the company's stock, valued at $39,905,270.79. This represents a 4.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 29,767 shares of company stock valued at $13,059,607. 0.18% of the stock is currently owned by insiders.

Key Stories Impacting Western Digital

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

• Positive Sentiment: AI infrastructure remains a major long-term growth driver. Western Digital supplies high-capacity hard drives used by cloud providers, and rising AI-generated data is supporting strong demand, tight supply and pricing power. 2 AI Stocks That Beat NVIDIA - and Could Soar Even Higher
• Positive Sentiment: Wedbush raised its price targets for Western Digital and Seagate ahead of earnings, while other analysts remain bullish. Morgan Stanley reportedly set a $650 target and Citigroup maintained an $800 target, suggesting analysts view the selloff as potentially excessive if demand and margins remain strong. Seagate and Western Digital in Focus as Wedbush Raises Price Targets
• Positive Sentiment: Investment commentary highlighted Western Digital’s strong hard-drive demand and tighter supply, reinforcing the company’s improving revenue, margins and cash-generation outlook. Western Digital Surged on Strong Hard Drive Demand and Tighter Supply
• Neutral Sentiment: Western Digital’s Aug. 5 earnings report is the next major catalyst. Investors will focus on gross margins, pricing, supply conditions and guidance to determine whether AI demand is still translating into higher profitability. Western Digital’s Earnings Will Test Whether Its AI Rally Has More Room
• Negative Sentiment: The broader AI memory trade is unwinding, with investors reducing exposure to chip and storage companies amid a shaky risk appetite and expectations that market volatility could persist. Western Digital has also retreated substantially from its June peak, increasing concern that valuation expectations had moved too far ahead of fundamentals. The AI Memory Trade Is Crumbling
• Negative Sentiment: China’s ChangXin Memory Technologies’ highly successful IPO and advances in Chinese AI technology are raising concerns about future competition and whether the current memory and storage supply shortage can persist. CXMT’s Blockbuster IPO Hits Memory Stocks
• Negative Sentiment: Insider Cynthia L. Tregillis sold 808 shares worth approximately $428,000 under a pre-arranged Rule 10b5-1 plan. The transaction was small relative to her remaining holdings, so it is a limited but slightly negative sentiment signal.

Analyst Ratings Changes

Several equities research analysts have issued reports on WDC shares. UBS Group reaffirmed a "neutral" rating and set a $560.00 price target on shares of Western Digital in a report on Monday, July 13th. Bank of America upped their price objective on shares of Western Digital from $610.00 to $732.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Morgan Stanley increased their price objective on shares of Western Digital from $488.00 to $650.00 and gave the company an "overweight" rating in a research report on Monday, June 15th. Robert W. Baird raised their target price on shares of Western Digital from $310.00 to $450.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. Finally, Fox Advisors downgraded shares of Western Digital from an "overweight" rating to an "equal weight" rating in a report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $520.32.

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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