Connective Portfolio Management LLC Buys Shares of 5,000 Western Digital Corporation $WDC

Connective Portfolio Management LLC bought a new position in Western Digital Corporation (NASDAQ:WDC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,000 shares of the data storage provider’s stock, valued at approximately $861,000. Western Digital makes up approximately 1.6% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 24th largest holding.

Other hedge funds have also recently modified their holdings of the company. 44 Wealth Management LLC boosted its position in shares of Western Digital by 0.8% during the third quarter. 44 Wealth Management LLC now owns 9,329 shares of the data storage provider’s stock valued at $1,120,000 after buying an additional 78 shares during the last quarter. Addison Advisors LLC raised its position in Western Digital by 7.1% in the 3rd quarter. Addison Advisors LLC now owns 1,281 shares of the data storage provider’s stock worth $154,000 after buying an additional 85 shares during the last quarter. Harbor Investment Advisory LLC raised its position in Western Digital by 47.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 300 shares of the data storage provider’s stock worth $52,000 after buying an additional 97 shares during the last quarter. Pure Financial Advisors LLC lifted its stake in Western Digital by 3.1% during the 3rd quarter. Pure Financial Advisors LLC now owns 3,583 shares of the data storage provider’s stock valued at $430,000 after acquiring an additional 107 shares during the period. Finally, Bogart Wealth LLC lifted its stake in Western Digital by 57.7% during the 3rd quarter. Bogart Wealth LLC now owns 309 shares of the data storage provider’s stock valued at $37,000 after acquiring an additional 113 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital News Summary

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

• Positive Sentiment: WDC is benefiting from a surge in AI and cloud demand that is lifting shipments of high‑capacity drives and advancing next‑generation storage for hyperscale customers, underpinning near‑term revenue growth. Western Digital Riding on AI & Cloud Boom to Power Growth
• Positive Sentiment: Management has secured multi‑year purchase commitments for high‑capacity storage extending into 2027–2028, improving revenue visibility and supply planning for AI/hyperscale customers — a valuation positive. Western Digital (WDC) Increases Despite Market Slip: Here’s What You Need to Know
• Positive Sentiment: Industry commentary continues to favor memory/storage stocks as beneficiaries of the AI infrastructure cycle, supporting momentum in WDC shares. Why Memory Stocks Are Winning the AI Boom While Big Tech Struggles
• Neutral Sentiment: Comparisons with peers: analyses show Micron posting record revenue while WDC’s cloud sales jumped ~31% — useful for relative valuation but not an immediate price driver. Micron (MU) vs Western Digital (WDC): Which AI Infrastructure Stock Offers Better Value?
• Neutral Sentiment: Retail promotions on WD consumer SSDs/hard drives are visible but have limited impact on enterprise/hyperscale revenue trends. Western Digital WD Red SA500 NAS 3D SSD drops to $898.99
• Negative Sentiment: Google’s new TurboQuant compression algorithm prompted a pullback in memory/storage stocks today because it could lower memory requirements for AI models, potentially reducing near‑term demand for capacity expansion. That headline is the main near‑term negative pressure on WDC. MU, WDC, SNDK fall: Why Google’s TurboQuant is rattling memory stocks
• Negative Sentiment: Broader coverage highlights a shift toward algorithmic efficiency that could temper growth assumptions for memory and storage demand, creating near‑term uncertainty for chip and storage suppliers. This Google Shift Is Raising Questions For Chip Makers

Wall Street Analyst Weigh In

WDC has been the subject of a number of research analyst reports. Citigroup lifted their price target on shares of Western Digital to $325.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Rosenblatt Securities restated a “buy” rating and set a $340.00 price objective on shares of Western Digital in a research report on Wednesday, February 4th. UBS Group set a $306.00 target price on shares of Western Digital in a report on Friday, January 30th. Wells Fargo & Company lifted their target price on shares of Western Digital from $260.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, New Street Research set a $250.00 target price on shares of Western Digital in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $265.58.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $296.14 on Thursday. 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 stock has a market capitalization of $100.40 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 0.69 and a beta of 1.76. The firm’s 50 day moving average price is $270.65 and its 200-day moving average price is $191.25. Western Digital Corporation has a twelve month low of $28.83 and a twelve month high of $319.62.

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 the consensus estimate of $1.93 by $0.20. Western Digital had a net margin of 35.52% and a return on equity of 41.53%. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the business posted $1.77 earnings per share. The firm’s quarterly revenue was up 25.2% compared to the same quarter last year. Equities research analysts expect that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Thursday, March 5th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.2%. Western Digital’s payout ratio is presently 5.02%.

Insider Buying and Selling

In other Western Digital news, insider Vidyadhara K. Gubbi sold 8,518 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $255.32, for a total transaction of $2,174,815.76. Following the completion of the sale, the insider owned 99,276 shares of the company’s stock, valued at approximately $25,347,148.32. The trade was a 7.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Cynthia L. Tregillis sold 9,324 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $268.27, for a total value of $2,501,349.48. Following the sale, the insider directly owned 121,682 shares of the company’s stock, valued at $32,643,630.14. This represents a 7.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 92,795 shares of company stock valued at $24,265,884. Company insiders own 0.18% of the company’s stock.

Western Digital 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.