Cache Advisors LLC Makes New Investment in Western Digital Corporation $WDC

Cache Advisors LLC purchased a new stake in shares of Western Digital Corporation (NASDAQ:WDC) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 13,096 shares of the data storage provider’s stock, valued at approximately $3,542,000. Western Digital comprises approximately 0.4% of Cache Advisors LLC’s portfolio, making the stock its 21st biggest holding.

A number of other hedge funds have also recently modified their holdings of the company. AustralianSuper Pty Ltd purchased a new stake in Western Digital in the third quarter valued at $34,244,000. Cantor Fitzgerald L. P. raised its position in Western Digital by 399.8% in the third quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider’s stock valued at $3,900,000 after purchasing an additional 25,987 shares during the period. NorthCrest Asset Manangement LLC lifted its stake in Western Digital by 75.4% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider’s stock worth $1,778,000 after purchasing an additional 4,068 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Western Digital during the fourth quarter worth $2,270,000. Finally, WESPAC Advisors LLC purchased a new position in shares of Western Digital during the fourth quarter worth $793,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WDC shares. Rosenblatt Securities lifted their price objective on Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Cantor Fitzgerald increased their target price on Western Digital to $660.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Mizuho raised their target price on Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a report on Monday, June 8th. UBS Group lifted their target price on Western Digital from $350.00 to $375.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Finally, Weiss Ratings upgraded shares of Western Digital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $450.46.

Western Digital News Summary

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

• Positive Sentiment: Analysts have remained constructive on Western Digital, with recent price-target increases from firms including JPMorgan and Morgan Stanley, reflecting optimism about earnings power and AI-related storage demand.
• Positive Sentiment: Western Digital’s recent quarterly results beat expectations, with revenue and EPS ahead of estimates and management guiding for continued expansion, which supports the longer-term bull case.
• Neutral Sentiment: Investor attention has stayed high around Western Digital as the stock has rallied strongly this year, keeping it in focus as a leveraged AI-memory play.
• Negative Sentiment: Today’s decline appears tied to a broad selloff in semiconductor and memory names as investors worry about an AI-bubble-style valuation reset and weakness in Asian chip markets.
• Negative Sentiment: Western Digital also faces some near-term share-overhang concerns after disclosed share-exchange transactions involving Sandisk stock, which may have added pressure on the stock.

Western Digital Trading Down 8.4%

Shares of NASDAQ WDC opened at $670.75 on Wednesday. The stock has a market cap of $231.19 billion, a P/E ratio of 40.04 and a beta of 2.13. Western Digital Corporation has a 12-month low of $60.56 and a 12-month high of $799.87. The business’s fifty day simple moving average is $501.56 and its 200-day simple moving average is $335.98.

Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (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 during the quarter, compared to analyst estimates of $3.25 billion. During the same period last year, the business posted $1.36 earnings per share. Western Digital’s revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities analysts forecast that Western Digital Corporation will post 9.6 EPS for the current fiscal year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th were given a dividend of $0.15 per share. This is a boost from Western Digital’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, June 5th. Western Digital’s dividend payout ratio is presently 3.58%.

Insider Activity

In related news, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $411.84, for a total value of $8,236,800.00. Following the sale, the chief executive officer owned 598,150 shares of the company’s stock, valued at $246,342,096. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the transaction, the director owned 3,903 shares of the company’s stock, valued at $2,062,813.56. This represents a 16.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,322 shares of company stock valued at $12,768,550 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

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.