Western Digital (NASDAQ:WDC) Stock Rating Reaffirmed by Wedbush

Western Digital (NASDAQ:WDC)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research report issued on Friday, Benzinga reports. They presently have a $95.00 price target on the data storage provider’s stock. Wedbush’s price target indicates a potential upside of 31.36% from the company’s previous close. Wedbush also issued estimates for Western Digital’s Q1 2025 earnings at $1.71 EPS, Q2 2025 earnings at $1.82 EPS, Q3 2025 earnings at $1.72 EPS, Q4 2025 earnings at $2.24 EPS, FY2025 earnings at $7.49 EPS, Q1 2026 earnings at $3.40 EPS, Q2 2026 earnings at $3.97 EPS, Q3 2026 earnings at $3.03 EPS and Q4 2026 earnings at $3.00 EPS.

Several other equities research analysts also recently issued reports on WDC. Rosenblatt Securities restated a “buy” rating and issued a $115.00 price objective on shares of Western Digital in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 price objective on shares of Western Digital in a report on Tuesday, September 10th. Morgan Stanley increased their target price on shares of Western Digital from $94.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday. TD Cowen lowered their price target on Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Finally, StockNews.com upgraded Western Digital from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.95.

Western Digital Stock Performance

Shares of Western Digital stock traded up $6.00 on Friday, reaching $72.32. The stock had a trading volume of 8,549,643 shares, compared to its average volume of 6,135,558. Western Digital has a fifty-two week low of $35.62 and a fifty-two week high of $81.55. The business’s 50-day moving average price is $65.31 and its two-hundred day moving average price is $69.73. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32. The stock has a market cap of $25.00 billion, a P/E ratio of -39.80 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.17. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.77 billion. On average, sell-side analysts forecast that Western Digital will post 7.75 EPS for the current year.

Insider Buying and Selling

In other Western Digital news, EVP Robert Soderbery sold 12,154 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the transaction, the executive vice president now owns 128,413 shares of the company’s stock, valued at approximately $7,331,098.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Robert Soderbery sold 12,154 shares of Western Digital stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the completion of the transaction, the executive vice president now directly owns 128,413 shares of the company’s stock, valued at $7,331,098.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Goeckeler sold 75,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the sale, the chief executive officer now directly owns 896,630 shares in the company, valued at approximately $63,051,021.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,955 shares of company stock worth $6,327,560 in the last three months. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Fortitude Family Office LLC raised its position in shares of Western Digital by 1,637.9% during the third quarter. Fortitude Family Office LLC now owns 2,016 shares of the data storage provider’s stock worth $138,000 after acquiring an additional 1,900 shares during the last quarter. abrdn plc raised its holdings in Western Digital by 2.0% during the 3rd quarter. abrdn plc now owns 119,577 shares of the data storage provider’s stock worth $8,205,000 after purchasing an additional 2,320 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Western Digital by 2.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 87,967 shares of the data storage provider’s stock valued at $6,007,000 after purchasing an additional 2,508 shares during the period. Asahi Life Asset Management CO. LTD. bought a new position in shares of Western Digital in the 3rd quarter valued at about $389,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Western Digital by 84.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,540 shares of the data storage provider’s stock worth $993,000 after buying an additional 6,644 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.