L2 Asset Management LLC Invests $1.23 Million in Western Digital Corporation $WDC

L2 Asset Management LLC acquired a new position in Western Digital Corporation (NASDAQ:WDC) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,923 shares of the data storage provider’s stock, valued at approximately $1,228,000.

Several other hedge funds have also recently bought and sold shares of the company. Aberdeen Wealth Management LLC bought a new position in Western Digital in the 2nd quarter worth about $109,000. Visionary Wealth Advisors acquired a new stake in shares of Western Digital in the second quarter valued at approximately $303,000. Dearborn Partners LLC acquired a new stake in shares of Western Digital in the second quarter valued at approximately $868,000. Algert Global LLC bought a new stake in shares of Western Digital during the second quarter valued at approximately $5,030,000. Finally, D.B. Root & Company LLC bought a new stake in shares of Western Digital during the second quarter valued at approximately $204,000. 92.51% of the stock is currently owned by institutional investors.

More Western Digital News

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

• Positive Sentiment: Western Digital’s latest quarterly results exceeded expectations, with earnings of $3.56 per share, revenue of $3.75 billion and year-over-year revenue growth of approximately 44%. Analysts say accelerating AI and cloud-storage demand, improving margins and the planned ramp of 40TB drives and HAMR technology support the company’s fiscal 2027 outlook. WDC’s Strong Q4 Raises the Stakes for Its Fiscal 2027 Product Ramp
• Positive Sentiment: Some commentary continues to view WDC as attractively positioned for growth because AI data centers require increasing storage capacity. However, the bullish case depends on successful product execution and sustained cloud spending. Western Digital: Time To Jump In Before Beast Mode Arrives Again
• Neutral Sentiment: Western Digital will participate in Citi’s 2026 Global TMT Conference on September 9. Management’s presentation could provide additional commentary on demand, pricing and the fiscal 2027 product ramp, but the announcement itself contains no new financial guidance. WD to Participate in Upcoming Investor Conference
• Neutral Sentiment: Director Cynthia L. Tregillis sold a combined 919 shares under a pre-arranged Rule 10b5-1 trading plan. The sales represent a small reduction in her holdings and are less significant as a bearish signal because they were scheduled in advance. SEC insider transaction filing
• Negative Sentiment: Investors have rotated out of high-performing AI-chip and memory names ahead of Nvidia’s earnings report, weighing on WDC along with Micron and Seagate even though underlying storage demand remains firm. Micron, Seagate, Western Digital, Semtech, and Penguin Solutions Shares Are Falling
• Negative Sentiment: Reports that Apple may source memory chips from Chinese suppliers have intensified concerns about competition and future pricing across the memory industry. WDC’s premium valuation, concentration in cloud customers and the need to execute its product ramp add to investor caution. Memory Stocks Slide on Report Apple May Source Chinese Chips

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WDC shares. Weiss Ratings lowered Western Digital from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Cantor Fitzgerald lifted their target price on Western Digital from $660.00 to $900.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Wells Fargo & Company lifted their target price on Western Digital from $575.00 to $730.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Bank of America boosted their price target on Western Digital from $610.00 to $732.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, Zacks Research raised Western Digital from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Western Digital presently has an average rating of “Moderate Buy” and a consensus target price of $534.56.

Western Digital Price Performance

NASDAQ WDC opened at $435.38 on Tuesday. Western Digital Corporation has a 12 month low of $76.70 and a 12 month high of $799.87. The firm has a market capitalization of $150.07 billion, a PE ratio of 17.98 and a beta of 2.14. The company’s 50 day simple moving average is $547.88 and its 200 day simple moving average is $435.48.

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

Western Digital Dividend Announcement

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

Insider Transactions at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of Western Digital stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $556.24, for a total transaction of $1,376,694.00. Following the transaction, the insider directly owned 85,154 shares of the company’s stock, valued at $47,366,060.96. The trade was a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total transaction of $8,899,400.00. Following the completion of the sale, the chief executive officer owned 575,966 shares in the company, valued at approximately $256,287,591.02. This trade represents a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 25,598 shares of company stock worth $11,868,944. Corporate 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.