Western Digital (NASDAQ:WDC) Price Target Raised to $325.00

Western Digital (NASDAQ:WDC) had its price target boosted by TD Cowen from $200.00 to $325.00 in a report released on Friday. The firm presently has a “buy” rating on the data storage provider’s stock. TD Cowen’s price objective suggests a potential upside of 16.73% from the company’s current price.

Several other equities analysts have also issued reports on WDC. Benchmark boosted their target price on shares of Western Digital from $115.00 to $163.00 and gave the company a “buy” rating in a report on Friday, October 31st. Bank of America boosted their price objective on Western Digital from $197.00 to $257.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Western Digital in a report on Monday, December 29th. Robert W. Baird set a $180.00 price objective on shares of Western Digital in a report on Friday, October 31st. Finally, China Renaissance assumed coverage on Western Digital in a research report on Friday, December 5th. They issued a “buy” rating and a $193.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $220.10.

Western Digital Price Performance

NASDAQ:WDC opened at $278.41 on Friday. Western Digital has a 12-month low of $28.83 and a 12-month high of $285.42. The firm has a market capitalization of $95.19 billion, a price-to-earnings ratio of 40.53, a P/E/G ratio of 1.33 and a beta of 1.78. The stock’s 50 day moving average price is $191.38 and its two-hundred day moving average price is $135.34. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.42.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, January 29th. The data storage provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.20. Western Digital had a net margin of 21.37% and a return on equity of 30.89%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the business earned $1.77 EPS. Western Digital’s quarterly revenue was up 25.2% on a year-over-year basis. On average, analysts anticipate that Western Digital will post 4.89 earnings per share for the current year.

Insider Transactions at Western Digital

In other Western Digital news, Director Roxanne Oulman sold 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $154.42, for a total transaction of $277,956.00. Following the completion of the sale, the director directly owned 3,863 shares of the company’s stock, valued at approximately $596,524.46. This represents a 31.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimberly Alexy sold 1,768 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $154.00, for a total value of $272,272.00. Following the transaction, the director owned 3,585 shares of the company’s stock, valued at approximately $552,090. This trade represents a 33.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 26,816 shares of company stock valued at $4,116,148 over the last 90 days. 0.18% of the stock is owned by corporate insiders.

Institutional Trading of Western Digital

Several hedge funds have recently bought and sold shares of WDC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Western Digital by 7.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after purchasing an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Western Digital by 229.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after buying an additional 967 shares during the period. Sivia Capital Partners LLC purchased a new position in Western Digital during the second quarter valued at approximately $307,000. Greenleaf Trust bought a new position in Western Digital in the second quarter worth about $233,000. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Western Digital by 187.1% during the second quarter. Robeco Institutional Asset Management B.V. now owns 361,709 shares of the data storage provider’s stock worth $23,146,000 after purchasing an additional 235,738 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital News Summary

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: WDC beat Q2 estimates on both EPS and revenue and posted strong margins — reported EPS $2.13 vs. ~$1.93 consensus and revenue $3.02B vs. ~$2.93B; revenue was up ~25% YoY, and net margin/ROE were robust, signaling profitable demand recovery. MarketBeat Earnings Summary
• Positive Sentiment: Company raised Q3 (fiscal) guidance well above Street expectations — EPS guide $2.15–$2.45 (consensus ~$1.94) and revenue guide $3.1B–$3.3B (consensus ~$3.0B), implying continued strong AI and data-center demand that supports further upside. Reuters Guidance Story
• Positive Sentiment: Management highlights AI-driven storage demand and delivered a sizable profit (WSJ noted profit of $1.84B), reinforcing the narrative that enterprise/AI spending is lifting HDD and flash pricing and utilization. WSJ Profit Coverage
• Positive Sentiment: Analysts and market outlets are upping estimates and noting inventory improvements and beat-and-raise dynamics; press and analyst pieces point to momentum similar to peers (Seagate), which helped spark the rally. Zacks Earnings Note
• Neutral Sentiment: WDC declared a quarterly dividend of $0.125/share (yield ~0.2%), payable Mar. 18 with record/ex-dividend date Mar. 5 — a small income signal but not material to growth thesis.
• Neutral Sentiment: Company released its earnings press release, slide deck and call transcript for deeper due diligence — useful for investors wanting detail on product mix, ASPs and backlog. BusinessWire Release
• Negative Sentiment: Some market commentary warns the name is extended/overbought after the run-up (and Jim Cramer warned against “chasing” storage plays), which raises near-term pullback risk despite strong results. Barchart Overbought Note InsiderMonkey Cramer Comment

Western Digital Company Profile

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.