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Is it a Good Choice to Invest in Western Digital Corp. (WDC)?

THB Asset Management, an investment management firm, published its "THB International (Ex-USA) Micro Cap Fund" third-quarter 2022 investor letter – a copy of which can be downloaded here. The MSCI World ex USA Small Cap® Index ((Index)) returned -3.2% in Q3 2022 while the THB International (ex-USA) Micro Cap Fund returned -3.9% (net of fees) in the same period. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, THB International Micro Cap Fund mentioned Western Digital Corporation (NASDAQ:WDC) and explained its insights for the company. Founded in 1970, Western Digital Corporation (NASDAQ:WDC) is a San Jose, California-based computer hard disk drive manufacturer and data storage company with an $11.4 billion market capitalization. Western Digital Corporation (NASDAQ:WDC) delivered a -44.75% return since the beginning of the year, while its 12-month returns are down by -37.71%. The stock closed at $36.03 per share on November 29, 2022.

Here is what THB International Micro Cap Fund has to say about Western Digital Corporation (NASDAQ:WDC) in its Q3 2022 investor letter:

"In July this year, Japan announced it will provide a subsidy up to 92.9 billion yen ($680 million) to Kioxia Corp. and Western Digital Corp. (NASDAQ:WDC) for a semiconductor production facility as part of efforts to secure stable domestic chip production. In a break with its past economic nationalism, it is also seeking to form a coalition with allies such as the US and the European Union to build a semiconductor supply chain that is less geographically concentrated and so better insulated from disasters and geopolitical instability. Beyond providing inputs to nearly every industry, the semiconductor industry is generating value for the economy, stimulating jobs, and paying high- income to workers."


Our calculations show that Western Digital Corporation (NASDAQ:WDC) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Western Digital Corporation (NASDAQ:WDC) was in 46 hedge fund portfolios at the end of the second quarter of 2022, compared to 43 funds in the previous quarter. Western Digital Corporation (NASDAQ:WDC) delivered a -16.90% return in the past 3 months.

In November 2022, we also shared another hedge fund’s views on Western Digital Corporation (NASDAQ:WDC) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.


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Disclosure: None. This article is originally published at Insider Monkey.