5 Best Data Center Stocks to Invest In

In this article, we will look at the 5 best data center stocks to invest in. If you want to read our detailed analysis of the data center industry which highlights key trends and major players, you can go to 10 Best Data Center Stocks to Invest In.

5. Western Digital Corporation (NASDAQ:WDC)

Number of Hedge Fund Holders: 45

Western Digital Corporation (NASDAQ:WDC) develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, Asia, and internationally. The company’s product offerings include storage devices, data center systems, and cloud storage services, among others. Western Digital Corporation (NASDAQ:WDC) offers a range of data center storage platforms for enterprises, which include Ultrastar, OpenFlex, and RapidFlex. These products strengthen the company’s market position as a data infrastructure company and place it high among the best data center stocks to invest in.

On July 1, Benchmark analyst Mark Miller trimmed his price target on Western Digital Corporation (NASDAQ:WDC) to $65 from $85 but reiterated a Buy rating on the shares.

At the end of Q1 2022, 45 hedge funds held stakes in Western Digital Corporation (NASDAQ:WDC) worth $1.03 billion. This is compared to 50 positions in the previous quarter with stakes worth $1.28 billion.

In Q1 2022, Lyrical Asset Management raised its stakes in Western Digital Corporation (NASDAQ:WDC) by 4%, bringing them to $204.09 million. The investment covers 2.82% of Lyrical Asset Management’s 13F portfolio and the fund is the largest shareholder in the company.