Activest Wealth Management Buys 1,969 Shares of Western Digital Corporation $WDC

Activest Wealth Management raised its stake in Western Digital Corporation (NASDAQ:WDC) by 3,786.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,021 shares of the data storage provider’s stock after buying an additional 1,969 shares during the period. Activest Wealth Management’s holdings in Western Digital were worth $243,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Pure Financial Advisors LLC grew its position in Western Digital by 3.1% during the 3rd quarter. Pure Financial Advisors LLC now owns 3,583 shares of the data storage provider’s stock worth $430,000 after acquiring an additional 107 shares during the last quarter. Bogart Wealth LLC boosted its stake in shares of Western Digital by 57.7% during the third quarter. Bogart Wealth LLC now owns 309 shares of the data storage provider’s stock valued at $37,000 after purchasing an additional 113 shares in the last quarter. Dynamic Advisor Solutions LLC grew its holdings in shares of Western Digital by 3.0% during the third quarter. Dynamic Advisor Solutions LLC now owns 3,871 shares of the data storage provider’s stock worth $465,000 after purchasing an additional 114 shares during the last quarter. ORG Partners LLC increased its stake in shares of Western Digital by 124.5% in the third quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock valued at $25,000 after buying an additional 117 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its holdings in Western Digital by 4.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,993 shares of the data storage provider’s stock valued at $359,000 after buying an additional 120 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Trading Up 10.7%

NASDAQ WDC opened at $279.70 on Thursday. The stock has a market capitalization of $95.63 billion, a P/E ratio of 40.71, a P/E/G ratio of 1.20 and a beta of 1.78. The business has a 50 day simple moving average of $188.62 and a 200 day simple moving average of $134.34. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.21 and a quick ratio of 0.94. Western Digital Corporation has a one year low of $28.83 and a one year high of $284.00.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, October 30th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.21. The firm had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Western Digital had a return on equity of 30.89% and a net margin of 21.37%.The company’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.78 EPS. Research analysts expect that Western Digital Corporation will post 4.89 earnings per share for the current year.

Insider Activity at Western Digital

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $150.69, for a total value of $3,013,800.00. Following the completion of the sale, the chief executive officer directly owned 645,467 shares in the company, valued at approximately $97,265,422.23. This trade represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Roxanne Oulman sold 1,800 shares of Western Digital stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $154.42, for a total transaction of $277,956.00. Following the completion of the sale, the director directly owned 3,863 shares of the company’s stock, valued at approximately $596,524.46. This trade represents a 31.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,816 shares of company stock valued at $4,116,148 in the last ninety days. Insiders own 0.18% of the company’s stock.

Western Digital News Summary

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

• Positive Sentiment: Investors lifted WDC after Seagate reported a strong Q2 that signaled robust demand for datacenter drives and helped re-rate storage peers. Why Western Digital Stock Soared Today
• Positive Sentiment: Same-day coverage: Benzinga highlights Seagate’s results as the proximate trigger for WDC buying, with investors rotating into peers. Western Digital Stock Rises On Seagate’s Strong Q2 Results
• Positive Sentiment: High-profile endorsement: Jim Cramer and other commentators pointed to persistent shortages and expect Western Digital’s upcoming quarter to be “very positive,” supporting sentiment. Jim Cramer Expects Western Digital’s Quarter to Be “Very Positive”
• Positive Sentiment: Industry supply tightness: coverage citing a DRAM/NAND “supercycle” and price strength underpins profit outlooks for Western Digital and peers. That fundamental backdrop helps justify the rally. 4 Memory Chip Stocks to Buy as Prices Skyrocket
• Positive Sentiment: New products for investors: launch of ETFs and 2x leveraged funds tied to Sandisk/Western Digital increases retail and thematic flows into the stock. Tradr Debuts Leveraged ETFs on Lumentum, Sandisk and Western Digital
• Neutral Sentiment: Analyst context: some research (Zacks) flags Micron as a potentially better value/ride on AI-driven memory demand, which could divert relative investor interest away from WDC. Western Digital vs. Micron: Which Data Storage Stock Has More Upside?
• Negative Sentiment: Mean-reversion risk: multiple pieces note WDC (and SanDisk) are up roughly 400% over the past year — that sharp run raises pullback and profit-taking risk despite strong fundamentals. SanDisk and Western Digital are up 400 in 1 Year. Should You Still Buy?

Analyst Ratings Changes

WDC has been the topic of a number of research reports. Benchmark boosted their target price on shares of Western Digital from $115.00 to $163.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Loop Capital boosted their price objective on shares of Western Digital to $250.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Rosenblatt Securities increased their price objective on Western Digital from $165.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. UBS Group lifted their target price on Western Digital from $145.00 to $230.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Finally, Barclays reiterated an “overweight” rating and issued a $240.00 price target on shares of Western Digital in a research report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $207.48.

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.