Cache Advisors LLC Invests $3.54 Million in Western Digital Corporation $WDC

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Western Digital during the fourth quarter worth approximately $788,729,000. Fred Alger Management LLC lifted its position in shares of Western Digital by 4,923.9% during the 3rd quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock worth $409,049,000 after buying an additional 3,339,225 shares during the last quarter. Soroban Capital Partners LP boosted its holdings in shares of Western Digital by 1,926.3% in the 2nd quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock valued at $195,882,000 after buying an additional 2,910,062 shares in the last quarter. Polar Capital Holdings Plc purchased a new position in shares of Western Digital in the 3rd quarter valued at $221,800,000. Finally, National Pension Service raised its stake in 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 in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on WDC shares. The Goldman Sachs Group restated a “neutral” rating and issued a $400.00 price objective on shares of Western Digital in a research note on Friday, May 1st. Evercore reissued an “outperform” rating and issued a $575.00 target price on shares of Western Digital in a report on Tuesday, May 26th. Sanford C. Bernstein raised Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 target price for the company in a research report on Tuesday, March 31st. UBS Group lifted their price target on Western Digital from $350.00 to $375.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Rosenblatt Securities boosted 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. 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. According to MarketBeat.com, the company presently 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.

Insider Activity

In other news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the transaction, the chief executive officer directly owned 598,150 shares in the company, valued at $246,342,096. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $443.19, for a total transaction of $2,071,470.06. Following the transaction, the insider directly owned 90,041 shares of the company’s stock, valued at $39,905,270.79. This represents a 4.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,322 shares of company stock worth $12,768,550 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Western Digital Trading Down 8.4%

Western Digital stock opened at $670.75 on Wednesday. The stock has a 50 day moving average of $501.56 and a two-hundred day moving average of $335.98. Western Digital Corporation has a twelve month low of $60.56 and a twelve month high of $799.87. The stock has a market capitalization of $231.19 billion, a price-to-earnings ratio of 40.04 and a beta of 2.13.

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 business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. The company’s revenue for the quarter 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. Equities analysts predict that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

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

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.