Pallas Capital Advisors LLC Makes New Investment in Western Digital Corporation $WDC

Pallas Capital Advisors LLC bought a new position in Western Digital Corporation (NASDAQ:WDC) in the 2nd quarter, Holdings Channel.com reports. The firm bought 8,514 shares of the data storage provider’s stock, valued at approximately $5,438,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ares Financial Consulting LLC raised its holdings in Western Digital by 45.5% during the second quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock worth $51,000 after purchasing an additional 25 shares in the last quarter. Dogwood Wealth Management LLC lifted its position in Western Digital by 28.6% in the second quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock valued at $57,000 after purchasing an additional 20 shares during the period. Clearstead Trust LLC purchased a new stake in Western Digital in the 2nd quarter valued at approximately $59,000. Kelleher Financial Advisors purchased a new stake in Western Digital in the 2nd quarter valued at approximately $73,000. Finally, Valley Wealth Managers Inc. acquired a new position in Western Digital during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on WDC. The Goldman Sachs Group reissued a “neutral” rating and issued a $400.00 price target on shares of Western Digital in a report on Friday, May 1st. Zacks Research raised Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Melius Research set a $1,050.00 price objective on Western Digital and gave the stock a “buy” rating in a research report on Monday, June 29th. Weiss Ratings downgraded Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of Western Digital from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $534.56.

Trending Headlines about Western Digital

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

• Positive Sentiment: Improving fundamentals supported the move higher. Expanding margins and a forecast-beating outlook gave Western Digital-specific support beyond the broader storage-sector rally. The company recently exceeded quarterly EPS and revenue estimates, while revenue grew sharply year over year. Western Digital Stock Jumps Over 6% as Memory Rally Accelerates
• Positive Sentiment: Analyst earnings estimates are being revised upward. Recent estimate revisions suggest expectations for Western Digital’s earnings are improving, potentially supporting additional near-term share-price momentum. Can Western Digital Run Higher on Rising Earnings Estimates?
• Positive Sentiment: AI-related storage demand and pricing tailwinds remain key catalysts. Western Digital is entering fiscal 2027 with expectations for strong end-market demand, better pricing, cloud growth tied to artificial intelligence, and a recovery in its hard-disk-drive business. Can Strong End Markets and Pricing Tailwinds Keep WDC’s Momentum Alive?
• Positive Sentiment: A broad memory-sector rally lifted sentiment. Elon Musk’s comments about a potential memory bottleneck, along with strong long-term expectations for peer SanDisk, helped boost storage and memory stocks, including WDC. Political developments cited by market coverage also contributed to the positive tone. SanDisk Rallies, Western Digital Rises, and Micron Gains as Elon Musk Flags a Memory Bottleneck
• Neutral Sentiment: Amazon discounted a WD-branded 5TB My Passport portable hard drive. The promotion may support consumer visibility but is unlikely to materially affect Western Digital’s investment outlook. Amazon Clears Out WD 5TB My Passport Portable External Hard Drive
• Negative Sentiment: Wall Street Zen lowered its rating on Western Digital, providing a counterpoint to the more optimistic earnings and industry-demand signals. Western Digital Stock Rating Lowered by Wall Street Zen

Insider Buying and Selling at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $444.97, for a total value of $8,899,400.00. Following the sale, the chief executive officer directly owned 575,966 shares in the company, valued at $256,287,591.02. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 808 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $529.63, for a total transaction of $427,941.04. Following the transaction, the insider directly owned 114,539 shares of the company’s stock, valued at approximately $60,663,290.57. This trade represents a 0.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,093 shares of company stock worth $11,650,737 over the last ninety days. 0.18% of the stock is currently owned by company insiders.

Western Digital Price Performance

NASDAQ WDC opened at $536.01 on Tuesday. Western Digital Corporation has a 1-year low of $73.14 and a 1-year high of $799.87. The company has a market capitalization of $184.75 billion, a P/E ratio of 22.14 and a beta of 2.14. The business has a 50 day moving average price of $556.51 and a 200 day moving average price of $428.76.

Western Digital (NASDAQ:WDC) last posted its earnings results on Wednesday, August 5th. The data storage provider reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.25. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.70 billion. Western Digital had a return on equity of 48.15% and a net margin of 72.95%.Western Digital’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.66 earnings per share. Western Digital has set its Q1 2027 guidance at 3.850-4.150 EPS. On average, research analysts expect that Western Digital Corporation will post 19.65 earnings per share for the current fiscal year.

Western Digital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Tuesday, September 8th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Western Digital’s dividend payout ratio is 2.48%.

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.