Western Digital (NASDAQ:WDC) Given New $125.00 Price Target at Rosenblatt Securities

Western Digital (NASDAQ:WDC) had its target price increased by Rosenblatt Securities from $90.00 to $125.00 in a research report report published on Monday, Marketbeat.com reports. The brokerage currently has a buy rating on the data storage provider’s stock.

Several other brokerages also recently weighed in on WDC. Citigroup upped their target price on shares of Western Digital from $88.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Bank of America increased their price objective on shares of Western Digital from $123.00 to $141.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Wedbush increased their price objective on shares of Western Digital from $78.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Mizuho increased their price objective on shares of Western Digital from $87.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Finally, UBS Group increased their price objective on shares of Western Digital from $45.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and a consensus target price of $91.47.

Western Digital Price Performance

Shares of WDC opened at $130.59 on Monday. Western Digital has a fifty-two week low of $28.83 and a fifty-two week high of $131.12. The firm’s 50 day moving average price is $87.58 and its 200 day moving average price is $63.09. The company has a market cap of $45.56 billion, a P/E ratio of 25.36, a PEG ratio of 1.01 and a beta of 1.77. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.47.

Western Digital (NASDAQ:WDC) last announced its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share for the quarter, topping 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 firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the prior year, the firm earned $1.44 EPS. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. On average, research analysts forecast that Western Digital will post 4.89 earnings per share for the current fiscal year.

Western Digital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, September 4th. Western Digital’s dividend payout ratio (DPR) is 7.77%.

Insider Activity at Western Digital

In related news, insider Vidyadhara K. Gubbi sold 11,343 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $90.29, for a total value of $1,024,159.47. Following the transaction, the insider directly owned 151,596 shares of the company’s stock, valued at $13,687,602.84. This trade represents a 6.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Gene M. Zamiska sold 3,160 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $75.68, for a total transaction of $239,148.80. Following the completion of the transaction, the senior vice president directly owned 31,560 shares in the company, valued at $2,388,460.80. This trade represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,730 shares of company stock valued at $3,921,594. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WDC. Wealth Enhancement Advisory Services LLC grew its position in Western Digital by 29.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,864 shares of the data storage provider’s stock worth $1,125,000 after purchasing an additional 4,324 shares during the last quarter. Versant Capital Management Inc grew its position in Western Digital by 879.4% during the 1st quarter. Versant Capital Management Inc now owns 4,045 shares of the data storage provider’s stock worth $164,000 after purchasing an additional 3,632 shares during the last quarter. GAMMA Investing LLC grew its position in Western Digital by 3,470.0% during the 1st quarter. GAMMA Investing LLC now owns 253,294 shares of the data storage provider’s stock worth $10,241,000 after purchasing an additional 246,199 shares during the last quarter. Rhumbline Advisers grew its position in Western Digital by 7.3% during the 1st quarter. Rhumbline Advisers now owns 674,874 shares of the data storage provider’s stock worth $27,285,000 after purchasing an additional 46,202 shares during the last quarter. Finally, Czech National Bank grew its position in Western Digital by 6.6% during the 1st quarter. Czech National Bank now owns 79,889 shares of the data storage provider’s stock worth $3,230,000 after purchasing an additional 4,932 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

About Western Digital

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.