Sagespring Wealth Partners LLC Purchases New Holdings in Western Digital Corporation $WDC

Sagespring Wealth Partners LLC acquired a new position in shares of Western Digital Corporation (NASDAQ:WDC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,846 shares of the data storage provider’s stock, valued at approximately $342,000.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in Western Digital by 2.0% during the second quarter. Geode Capital Management LLC now owns 9,305,289 shares of the data storage provider’s stock worth $593,045,000 after buying an additional 186,030 shares in the last quarter. Holocene Advisors LP lifted its holdings in shares of Western Digital by 8.5% during the 2nd quarter. Holocene Advisors LP now owns 5,535,972 shares of the data storage provider’s stock worth $354,247,000 after acquiring an additional 431,419 shares during the period. Maple Rock Capital Partners Inc. boosted its position in shares of Western Digital by 17.1% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 3,735,296 shares of the data storage provider’s stock valued at $239,022,000 after acquiring an additional 545,500 shares in the last quarter. Norges Bank bought a new stake in Western Digital in the second quarter valued at about $220,680,000. Finally, Soroban Capital Partners LP raised its position in Western Digital by 1,926.3% in the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after purchasing an additional 2,910,062 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Western Digital

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?

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Citigroup lifted their price objective on Western Digital from $200.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Wedbush boosted their price target on Western Digital from $90.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Western Digital in a research note on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on Western Digital from $94.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Finally, TD Cowen reaffirmed a “buy” rating on shares of Western Digital in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $207.48.

Insider Activity at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $150.69, for a total transaction of $3,013,800.00. Following the transaction, the chief executive officer directly owned 645,467 shares in the company, valued at approximately $97,265,422.23. This represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimberly Alexy sold 1,768 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $154.00, for a total transaction of $272,272.00. Following the completion of the sale, the director directly owned 3,585 shares of the company’s stock, valued at approximately $552,090. This represents a 33.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 26,816 shares of company stock valued at $4,116,148. Insiders own 0.18% of the company’s stock.

Western Digital Price Performance

Shares of WDC stock opened at $279.70 on Thursday. Western Digital Corporation has a 52 week low of $28.83 and a 52 week high of $284.00. The stock has a market capitalization of $95.63 billion, a PE ratio of 40.71, a PEG ratio of 1.20 and a beta of 1.78. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.94 and a current ratio of 1.21. The stock’s fifty day moving average is $188.62 and its 200-day moving average is $134.34.

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

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.