Western Digital (WDC)

• Market cap: $22.3B
• 1 day: 3.01%
• 5 days: 2.41%
• 1 month: -1.03%
• 3 months: -3.47%
• 6 months: -18.00%
• Year to date: 4.46%
• 1 year: 23.74%
• 5 years: -3.06%
• 10 years: -38.27%
• 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)

69% more call options, than puts

Call options by funds: $1.72B | Put options by funds: $1.02B

8% more capital invested

Capital invested by funds: $26.4B [Q2] → $28.6B (+$2.21B) [Q3]

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]

8.82% less ownership

Funds ownership: 106.58% [Q2] → 97.76% (-8.82%) [Q3]

34% less first-time investments, than exits

New positions opened: 103 | Existing positions closed: 157

44% less funds holding in top 10

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

Research analyst outlook

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

• Low target: $70 8% upside
• Avg. target: $88 36% upside
• High target: $115 78% upside

10 analyst ratings

• positive: 8 80%
• neutral: 2 20%
• negative: 0 0%

Goldman Sachs Toshiya Hari 52% 1-year accuracy 59 / 113 met price target	8% upside $70	Neutral Maintained	10 Jan 2025
Mizuho Vijay Rakesh 37% 1-year accuracy 28 / 76 met price target	27% upside $82	Outperform Maintained	3 Jan 2025
Morgan Stanley Joseph Moore 63% 1-year accuracy 36 / 57 met price target	44% upside $93	Overweight Maintained	19 Dec 2024
Benchmark Mark Miller 39% 1-year accuracy 15 / 38 met price target	8% upside $70	Buy Reiterated	19 Dec 2024
Citigroup Asiya Merchant 35% 1-year accuracy 9 / 26 met price target	32% upside $85	Buy Maintained	3 Dec 2024