B. Riley Wealth Advisors Inc. Takes Position in Western Digital Corporation $WDC

B. Riley Wealth Advisors Inc. bought a new stake in Western Digital Corporation (NASDAQ:WDC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,964 shares of the data storage provider’s stock, valued at approximately $356,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDC. ORG Partners LLC raised its stake in shares of Western Digital by 124.5% in the third quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 117 shares during the last quarter. Private Wealth Management Group LLC increased its holdings in Western Digital by 102.5% in the 2nd quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock worth $26,000 after buying an additional 202 shares during the period. Rakuten Securities Inc. raised its position 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 worth $27,000 after buying an additional 407 shares during the last quarter. NewSquare Capital LLC lifted its stake in Western Digital by 86.9% during the 2nd quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 205 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its holdings in shares of Western Digital by 551.4% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 204 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Activity at Western Digital

In other news, Director Roxanne Oulman sold 1,800 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $154.42, for a total transaction of $277,956.00. Following the completion of the sale, the director owned 3,863 shares of the company’s stock, valued at $596,524.46. The trade was a 31.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $150.69, for a total transaction of $3,013,800.00. Following the transaction, the chief executive officer owned 645,467 shares of the company’s stock, valued at approximately $97,265,422.23. This trade represents a 3.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,816 shares of company stock worth $4,116,148 in the last ninety days. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

WDC has been the subject of a number of research reports. UBS Group boosted their target price on shares of Western Digital from $145.00 to $230.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Benchmark boosted their price objective on Western Digital from $115.00 to $163.00 and gave the company a “buy” rating in a report on Friday, October 31st. Bank of America raised their target price on Western Digital from $197.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. TD Cowen reissued a “buy” rating on shares of Western Digital in a report on Friday, October 31st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price objective on shares of Western Digital in a research report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $207.48.

Western Digital News Roundup

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

• Positive Sentiment: Q2 beat: WDC reported $2.13 EPS and $3.02B revenue, topping consensus estimates and showing a meaningful year‑over‑year improvement in profit margins. This is the primary driver behind investor optimism. Read More.
• Positive Sentiment: Upbeat guidance: Management forecast Q3 revenue above Street estimates, citing sustained demand for HDDs and flash storage from AI servers — reinforcing the view that AI-driven data center demand is driving growth. Read More.
• Positive Sentiment: Sector tailwind: Strong results from peer Seagate helped lift WDC ahead of its report as investors priced in continued strength across storage names. Read More.
• Neutral Sentiment: Financial detail & investor materials: The company posted a $1.84B profit and provided a press release, slide deck and conference call — useful for modeling forward margins and capacity plans but not market-moving by itself. Read More.
• Neutral Sentiment: Analyst revisions: Several analysts revised forecasts higher into the print, which supports the bullish thesis but also means expectations are elevated. Read More.
• Negative Sentiment: Profit-taking and overbought technicals: WDC had run to record highs ahead of earnings, prompting take‑profits and triggering “overbought” warnings that can pressure shares short‑term. Read More.
• Negative Sentiment: Market commentary caution: Media/TV commentators have advised against “chasing” high‑momentum memory/storage names, which can amplify short-term selling after big moves. Read More.

Western Digital Stock Down 0.5%

Western Digital stock opened at $278.41 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.21 and a quick ratio of 0.94. The stock has a market capitalization of $95.19 billion, a PE ratio of 40.53, a price-to-earnings-growth ratio of 1.33 and a beta of 1.78. The business has a 50 day simple moving average of $191.38 and a 200-day simple moving average of $135.34. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $285.42.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.20. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.93 billion. Western Digital had a return on equity of 30.89% and a net margin of 21.37%.The business’s revenue was up 25.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. On average, analysts anticipate that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

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.