Western Digital (WDC)

• Market cap: $20.8B
• 1 day: 1.04%
• 5 days: -6.65%
• 1 month: -5.64%
• 3 months: -9.75%
• 6 months: -21.04%
• Year to date: 18.44%
• 1 year: 21.92%
• 5 years: -1.42%
• 10 years: -47.29%
• Sector: Information Technology
• Industry: Computer Storage Devices

About: Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives. In the HDD market it forms a practical duopoly with Seagate, and it is the largest global producer of NAND flash chips for SSDs in a joint venture with competitor Kioxia.

Employees: 51,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

68% more call options, than puts

Call options by funds: $1.7B | Put options by funds: $1.01B

5% less repeat investments, than reductions

Existing positions increased: 243 | Existing positions reduced: 255

9% less funds holding

Funds holding: 746 [Q2] → 682 (-64) [Q3]

13.38% less ownership

Funds ownership: 105.81% [Q2] → 92.44% (-13.38%) [Q3]

17% less capital invested

Capital invested by funds: $26.2B [Q2] → $21.7B (-$4.51B) [Q3]

38% less first-time investments, than exits

New positions opened: 103 | Existing positions closed: 167

44% less funds holding in top 10

Funds holding in top 10: 39 [Q2] → 22 (-17) [Q3]

Research analyst outlook

8 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $70 16% upside
• Avg. target: $91 51% upside
• High target: $115 91% upside

8 analyst ratings

• positive: 7 88%
• neutral: 1 13%
• negative: 0 0%

Morgan Stanley Joseph Moore 63% 1-year accuracy 36 / 57 met price target	54% upside $93	Overweight Maintained	19 Dec 2024
Benchmark Mark Miller 33% 1-year accuracy 13 / 39 met price target	16% upside $70	Buy Reiterated	19 Dec 2024
Citigroup Asiya Merchant 48% 1-year accuracy 13 / 27 met price target	41% upside $85	Buy Maintained	3 Dec 2024
Cantor Fitzgerald C J Muse 44% 1-year accuracy 36 / 82 met price target	58% upside $95	Overweight Reiterated	26 Nov 2024
Barclays Tom O'Malley 48% 1-year accuracy 21 / 44 met price target	49% upside $90	Overweight Maintained	25 Oct 2024