Western Digital (NASDAQ:WDC) Price Target Raised to $141.00

Western Digital (NASDAQ:WDC) had its target price raised by Bank of America from $123.00 to $141.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the data storage provider’s stock.

Several other equities research analysts also recently commented on the stock. Barclays boosted their target price on shares of Western Digital from $80.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Wells Fargo & Company boosted their target price on shares of Western Digital from $80.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Zacks Research downgraded shares of Western Digital from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Rosenblatt Securities boosted their target price on shares of Western Digital from $53.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Finally, Sanford C. Bernstein upgraded shares of Western Digital to a “hold” rating in a research report on Tuesday, September 16th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.63.

Western Digital Trading Down 0.3%

Shares of Western Digital stock opened at $106.88 on Wednesday. The firm has a market capitalization of $37.29 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84. The company’s fifty day moving average price is $84.34 and its two-hundred day moving average price is $61.45. Western Digital has a 52-week low of $28.83 and a 52-week high of $113.75.

Western Digital (NASDAQ:WDC) last issued its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.48 by $0.18. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the company earned $1.44 EPS. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. On average, analysts expect that Western Digital will post 4.89 EPS for the current year.

Western Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. Western Digital’s dividend payout ratio is presently 7.77%.

Insider Buying and Selling at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 11,343 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $90.29, for a total transaction of $1,024,159.47. Following the transaction, the insider directly owned 151,596 shares in the company, valued at approximately $13,687,602.84. This represents a 6.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cynthia L. Tregillis sold 14,067 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the transaction, the insider owned 135,351 shares in the company, valued at approximately $10,121,547.78. The trade was a 9.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,730 shares of company stock valued at $3,921,594. 0.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Western Digital in the 4th quarter valued at about $9,663,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Western Digital by 29.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,864 shares of the data storage provider’s stock valued at $1,125,000 after acquiring an additional 4,324 shares during the last quarter. Kera Capital Partners Inc. bought a new stake in shares of Western Digital in the 1st quarter valued at about $237,000. Versant Capital Management Inc increased its stake in shares of Western Digital by 879.4% in the 1st quarter. Versant Capital Management Inc now owns 4,045 shares of the data storage provider’s stock valued at $164,000 after acquiring an additional 3,632 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Western Digital by 3,470.0% in the 1st quarter. GAMMA Investing LLC now owns 253,294 shares of the data storage provider’s stock valued at $10,241,000 after acquiring an additional 246,199 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

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.