Bull Harbor Capital LLC Takes $2.15 Million Position in Western Digital Corporation $WDC

Bull Harbor Capital LLC purchased a new position in Western Digital Corporation (NASDAQ:WDC) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,935 shares of the data storage provider’s stock, valued at approximately $2,146,000. Western Digital accounts for 0.6% of Bull Harbor Capital LLC’s portfolio, making the stock its 28th biggest holding.

Other large investors also recently bought and sold shares of the company. Rakuten Securities Inc. grew its holdings in Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 407 shares in the last quarter. Avion Wealth lifted its stake in shares of Western Digital by 163.8% in the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 113 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in Western Digital in the first quarter valued at about $32,000. Swiss RE Ltd. acquired a new stake in Western Digital during the 4th quarter valued at approximately $32,000. Finally, BOKF NA grew its stake in Western Digital by 6,700.0% during the 3rd quarter. BOKF NA now owns 272 shares of the data storage provider’s stock valued at $33,000 after purchasing an additional 268 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on WDC shares. JPMorgan Chase & Co. raised their price objective on shares of Western Digital from $530.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Wells Fargo & Company increased their price target on shares of Western Digital from $575.00 to $730.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Fox Advisors lowered Western Digital from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. TD Cowen raised their price objective on Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, Mizuho boosted their target price on shares of Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $520.32.

Western Digital Price Performance

Shares of WDC opened at $462.04 on Thursday. The company has a market cap of $159.26 billion, a P/E ratio of 27.58 and a beta of 2.11. Western Digital Corporation has a 12 month low of $69.30 and a 12 month high of $799.87. The stock has a fifty day moving average price of $565.89 and a 200 day moving average price of $404.28.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. The company’s revenue for the quarter was up 45.5% compared to the same quarter last year. As a group, research analysts anticipate that Western Digital Corporation will post 9.61 earnings per share for the current year.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Strong demand for high-capacity hard drives from cloud providers and data centers, driven by rapidly increasing AI-generated data, is supporting Western Digital’s growth outlook. Tighter global supply could also improve pricing and margins. Why Is Western Digital Stock Surging on Wednesday?
• Positive Sentiment: Seagate’s strong results provided a read-through for Western Digital, reinforcing expectations that demand for enterprise storage remains healthy. Analysts, including Wedbush and Citigroup, have also maintained bullish views and elevated price targets. Seagate, SK Hynix, Ford, Vertiv, and More Stocks That Explain Today’s Market
• Neutral Sentiment: Wall Street expects earnings growth in Western Digital’s next report. Investors will focus on whether AI-related storage demand, supply tightness and pricing power can support results and forward guidance after the stock’s sharp rally. Western Digital Reports Next Week
• Neutral Sentiment: Western Digital previously exceeded quarterly estimates, reporting $2.72 in earnings per share versus a $2.39 consensus and revenue of $3.34 billion, up 45.5% year over year. That performance raises expectations for the upcoming report.
• Negative Sentiment: The broader AI memory trade has suffered a severe sell-off, with investors reducing exposure to high-growth chip and storage names. Western Digital has retreated substantially from its June high, increasing concerns that its valuation may have outpaced near-term fundamentals. The Memory Crash Has 4 Big Stocks Down 30% or More
• Negative Sentiment: Advances in Chinese AI technology and a strong listing by China’s ChangXin Memory Technologies are fueling concerns about future competition and whether current supply constraints will persist. Stocks Extend Slide Amid China’s AI Challenge
• Negative Sentiment: Insider Cynthia Tregillis sold 808 shares for approximately $428,000 under a pre-arranged Rule 10b5-1 plan. The sale reduced her position by only 0.7% and is therefore a limited bearish signal.

Insiders Place Their Bets

In related news, insider Vidyadhara K. Gubbi sold 4,674 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $443.19, for a total value of $2,071,470.06. Following the completion of the transaction, the insider directly owned 90,041 shares of the company’s stock, valued at $39,905,270.79. This represents a 4.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Cynthia L. Tregillis sold 808 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $529.63, for a total value of $427,941.04. Following the completion of the sale, the insider owned 114,539 shares in the company, valued at approximately $60,663,290.57. This represents a 0.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 29,767 shares of company stock valued at $13,059,607. Corporate insiders own 0.18% of the company’s stock.

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.