Parcion Private Wealth LLC Takes $397,000 Position in Western Digital Corporation $WDC

Parcion Private Wealth LLC acquired a new stake in Western Digital Corporation (NASDAQ:WDC) in the 4th quarter, Holdings Channel reports. The firm acquired 2,302 shares of the data storage provider’s stock, valued at approximately $397,000.

Several other hedge funds also recently modified their holdings of WDC. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Western Digital by 12.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,317 shares of the data storage provider’s stock valued at $6,281,000 after purchasing an additional 5,731 shares in the last quarter. LBP AM SA acquired a new position in Western Digital during the third quarter worth $641,000. AustralianSuper Pty Ltd acquired a new position in Western Digital during the third quarter worth $34,244,000. NorthCrest Asset Manangement LLC raised its stake in Western Digital by 75.4% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider’s stock worth $1,778,000 after acquiring an additional 4,068 shares in the last quarter. Finally, Cantor Fitzgerald L. P. raised its stake in Western Digital by 399.8% during the third quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider’s stock worth $3,900,000 after acquiring an additional 25,987 shares in the last quarter. 92.51% of the stock is owned by institutional investors.

Western Digital News Summary

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

• Positive Sentiment: Bank of America raised its WDC price target to $415 and assigned a “buy” rating, signaling increased analyst conviction and implying further upside from current levels.
• Positive Sentiment: JPMorgan raised its price target to $400 and moved to “overweight,” another institutional upgrade supporting the rally and likely attracting more buyer interest. Benzinga
• Positive Sentiment: Solid fundamentals and earnings momentum — WDC has a recent track record of beats and raised guidance drivers (high-capacity/HAMR drives, manufacturing productivity). Analysts and outlets highlight the company as positioned to beat again, which supports valuation multiple expansion. Will Western Digital (WDC) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: WDC reported multi‑year AI storage commitments from large customers, boosted its dividend by 25% and announced meaningful buybacks — all shareholder‑friendly actions that underpin investor confidence in continued demand from AI workloads. Western Digital (WDC) Is Up 7.7% After Securing Multi‑Year AI Storage Commitments And Boosting Payouts
• Positive Sentiment: Broader market strength (Dow, S&P 500, Nasdaq gains and new highs) is lifting cyclical and growth names, providing tailwinds for WDC’s share price. Dow jumps 800 points, S&P 500 at new record, Nasdaq gains 6.8% this week
• Neutral Sentiment: Coverage notes WDC hitting record highs and strong institutional buying, but also documents insider selling activity — the market reaction so far shows buyers outweighing internal selling, so this is mixed for near‑term direction. Western Digital (WDC) Stock Surges to Record Peak Despite Insider Sales Activity
• Negative Sentiment: Retail SSD price cuts (example: WD Blue SN5100 markdown) could signal near‑term ASP pressure in consumer channels and tighter margins if competition forces broader discounting. WD Blue SN5100 NVMe SSD drops to $324.61 in latest price cut

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. The Goldman Sachs Group set a $250.00 price objective on Western Digital in a research note on Tuesday, February 3rd. Weiss Ratings upgraded Western Digital from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 2nd. Wedbush reiterated an “outperform” rating and set a $325.00 price objective on shares of Western Digital in a research note on Monday, February 9th. Wall Street Zen lowered Western Digital from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Finally, Citigroup increased their price objective on Western Digital to $405.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Twenty-one research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $304.29.

Insiders Place Their Bets

In other news, insider Vidyadhara K. Gubbi sold 8,518 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $255.32, for a total value of $2,174,815.76. Following the completion of the sale, the insider directly owned 99,276 shares in the company, valued at approximately $25,347,148.32. This trade represents a 7.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Cynthia L. Tregillis sold 9,324 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $268.27, for a total value of $2,501,349.48. Following the completion of the sale, the insider owned 121,682 shares of the company’s stock, valued at approximately $32,643,630.14. This trade represents a 7.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 92,795 shares of company stock valued at $24,265,884. 0.18% of the stock is owned by corporate insiders.

Western Digital Stock Performance

Shares of NASDAQ:WDC opened at $372.52 on Friday. Western Digital Corporation has a twelve month low of $35.51 and a twelve month high of $378.98. The firm has a market cap of $126.30 billion, a PE ratio of 37.36, a price-to-earnings-growth ratio of 0.84 and a beta of 1.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.46. The business has a fifty day moving average of $293.17 and a 200-day moving average of $215.98.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.20. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the company posted $1.77 earnings per share. The firm’s quarterly revenue was up 25.2% compared to the same quarter last year. On average, equities research analysts predict that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Thursday, March 5th were paid a $0.125 dividend. The ex-dividend date was Thursday, March 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.1%. Western Digital’s dividend payout ratio (DPR) is 5.02%.

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.