Edgestream Partners L.P. Has $600,000 Position in Western Digital Corporation $WDC

Edgestream Partners L.P. lessened its position in Western Digital Corporation (NASDAQ:WDC) by 89.9% in the first quarter, HoldingsChannel.com reports. The fund owned 2,217 shares of the data storage provider’s stock after selling 19,723 shares during the period. Edgestream Partners L.P.’s holdings in Western Digital were worth $600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Western Digital in the 4th quarter valued at about $788,729,000. Soroban Capital Partners LP grew its holdings in Western Digital by 1,926.3% during the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after purchasing an additional 2,910,062 shares during the period. Polar Capital Holdings Plc acquired a new position in Western Digital during the third quarter worth approximately $221,800,000. Value Aligned Research Advisors LLC acquired a new position in Western Digital during the first quarter worth approximately $350,403,000. Finally, National Pension Service boosted its stake in shares of Western Digital by 267.6% during the 4th quarter. National Pension Service now owns 1,691,659 shares of the data storage provider’s stock worth $291,422,000 after acquiring an additional 1,231,477 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Western Digital

In other Western Digital news, Director Bruce E. Kiddoo sold 750 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the transaction, the director directly owned 3,903 shares of the company’s stock, valued at $2,062,813.56. This represents a 16.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Cynthia L. Tregillis sold 808 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total value of $427,941.04. Following the transaction, the insider owned 114,539 shares in the company, valued at $60,663,290.57. The trade was a 0.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,093 shares of company stock worth $2,751,337 in the last ninety days. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on WDC. Wells Fargo & Company boosted their target price on Western Digital from $575.00 to $730.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Wall Street Zen raised Western Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Rosenblatt Securities lifted their price objective on shares of Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Cantor Fitzgerald upped their price objective on shares of Western Digital from $660.00 to $900.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $520.32.

Trending Headlines about Western Digital

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

• Positive Sentiment: Analysts remain broadly optimistic about Western Digital (WDC) after its substantial year-to-date rally. Coverage highlights strong earnings-surprise history, favorable ratings and price targets that generally point to additional upside, although expectations are elevated. Are Wall Street Analysts Predicting Western Digital Stock Will Climb or Sink?
• Positive Sentiment: Investors are looking for WDC to benefit from continued AI-related infrastructure investment and improving enterprise-storage demand. Strong results from rival Seagate have reinforced hopes that Western Digital could deliver a similarly positive earnings update. Should You Buy Western Digital Before Its Earnings Report?
• Neutral Sentiment: Multiple previews say the earnings release could either rekindle investor enthusiasm or trigger a sharp reaction, since the stock has already risen significantly. Key issues include management’s outlook for demand, gross margin expansion and the durability of the AI-storage cycle. Sandisk and Western Digital Are Set to Report Earnings Soon
• Negative Sentiment: Recent weakness across memory and storage stocks reflects profit-taking, valuation concerns and caution ahead of earnings. Investors are also monitoring competition in the memory market and broader semiconductor-sector volatility. Western Digital Slides as Investors Appear to De-Risk Ahead of Earnings
• Negative Sentiment: Reported insider-trading data shows substantial selling by company executives and other insiders over the past six months, with no reported open-market purchases. While such sales may reflect compensation or diversification, they could add to investor caution at elevated valuations.

Western Digital Trading Up 4.0%

Western Digital stock opened at $548.56 on Wednesday. The company has a market capitalization of $189.08 billion, a price-to-earnings ratio of 32.75 and a beta of 2.14. Western Digital Corporation has a 12 month low of $73.14 and a 12 month high of $799.87. The stock’s 50 day moving average is $569.37 and its 200-day moving average is $413.52.

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.