Parametrica Management Ltd Makes New Investment in Western Digital Corporation $WDC

Parametrica Management Ltd bought a new position in shares of Western Digital Corporation (NASDAQ:WDC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,487 shares of the data storage provider’s stock, valued at approximately $1,585,000. Western Digital makes up approximately 1.1% of Parametrica Management Ltd’s investment portfolio, making the stock its 17th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc purchased a new stake in Western Digital during the 2nd quarter worth $1,602,927,000. Anther Capital Ltd acquired a new position in Western Digital in the 2nd quarter worth $901,601,000. Deutsche Bank AG purchased a new position in Western Digital in the 2nd quarter valued at about $885,565,000. Value Aligned Research Advisors LLC purchased a new position in Western Digital in the 1st quarter valued at about $350,403,000. Finally, Trivest Advisors Ltd purchased a new position in Western Digital in the 2nd quarter valued at about $627,606,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Stock Performance

Shares of Western Digital stock opened at $380.88 on Wednesday. The firm’s 50-day simple moving average is $426.85 and its 200-day simple moving average is $413.96. Western Digital Corporation has a 1 year low of $121.85 and a 1 year high of $799.87.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, October 22nd. The data storage provider reported $4.64 EPS for the quarter, topping the consensus estimate of $4.11 by $0.53. The company had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.14 billion. The business’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.78 EPS. As a group, equities research analysts expect that Western Digital Corporation will post 20.23 earnings per share for the current year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, December 4th will be given a $0.1750 dividend. This represents a $0.70 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, December 4th. This is a positive change from Western Digital’s previous quarterly dividend of $0.15.

Insider Transactions at Western Digital

In other news, insider Cynthia Tregillis sold 1,007 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $478.36, for a total value of $481,708.52. Following the completion of the sale, the insider directly owned 112,155 shares in the company, valued at approximately $53,650,465.80. The trade was a 0.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara Gubbi sold 1,795 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $459.87, for a total value of $825,466.65. Following the sale, the insider directly owned 80,571 shares in the company, valued at approximately $37,052,185.77. This represents a 2.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 25,436 shares of company stock worth $11,340,064. 0.20% of the stock is currently owned by corporate insiders.

Trending Headlines about Western Digital

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

• Positive Sentiment: Western Digital’s fiscal first-quarter results exceeded expectations, with earnings of $4.64 per share versus the $4.11 consensus and revenue of $4.38 billion versus $4.14 billion expected. Revenue increased 55.5% year over year. Western Digital Corporation 2027 Q1 Results Earnings Call Presentation
• Positive Sentiment: The company recently raised its quarterly dividend by 16.7%, adding to the shareholder-return case after its strong earnings report. Western Digital Raises Dividend Following Strong Earnings
• Positive Sentiment: Analysts and market commentators point to surging hard-disk-drive demand, higher pricing and expanding AI workloads as factors supporting stronger fiscal second-quarter revenue, margins and earnings expectations. Zacks also upgraded WDC to a Rank #2, or “Buy.” WDC Fiscal Q2 Forecast Improves
• Neutral Sentiment: Western Digital’s CEO said AI storage demand could grow about 25% annually, while the company expects expanding margins. However, investors remain focused on whether demand and pricing can remain durable through the storage cycle. Western Digital CEO Discusses AI Storage Demand
• Negative Sentiment: WDC is declining after hours in sympathy with Seagate, whose results apparently raised concerns about storage-sector demand, supply or future cyclicality. The read-through is weighing on Western Digital despite its own positive earnings outlook. Western Digital Stock Slides After Hours
• Negative Sentiment: Argus lowered its price target from $600 to $500, citing valuation or sector risks, although it maintained a “Buy” rating. Other commentary also flags potential oversupply and cyclicality following WDC’s substantial multi-year rally.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Cantor Fitzgerald lowered their target price on Western Digital from $900.00 to $625.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. The Goldman Sachs Group set a $540.00 target price on Western Digital in a research report on Friday. Robert W. Baird set a $900.00 price target on Western Digital in a research note on Friday. BNP Paribas Exane increased their price target on Western Digital from $660.00 to $700.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Bank of America increased their price target on Western Digital from $720.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $591.04.

Western Digital Company Profile

Western Digital Corporation (NASDAQ: WDC) is a data storage technology company that develops and manufactures hard disk drives (HDDs) and related storage solutions. Its products are used in data centers, cloud infrastructure, enterprise systems, personal computers, gaming platforms and external storage devices.

The company offers HDD-based products for business and consumer applications, including high-capacity drives designed for hyperscale and cloud data centers, enterprise storage environments, network-attached storage systems and personal computing.