Western Digital (NASDAQ:WDC) Price Target Raised to $270.00 at Rosenblatt Securities

Western Digital (NASDAQ:WDC) had its price target raised by investment analysts at Rosenblatt Securities from $165.00 to $270.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the data storage provider’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 21.89% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $165.00 price objective on shares of Western Digital in a research note on Friday, January 9th. Wedbush upped their price target on Western Digital from $90.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Western Digital in a research note on Tuesday, December 16th. TD Cowen raised their price objective on Western Digital from $90.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 price objective on shares of Western Digital in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and an average price target of $194.05.

Western Digital Price Performance

Western Digital stock opened at $221.51 on Tuesday. The stock has a 50-day moving average price of $176.67 and a two-hundred day moving average price of $125.95. Western Digital has a 12 month low of $28.83 and a 12 month high of $230.48. The company has a market capitalization of $75.73 billion, a PE ratio of 32.24, a P/E/G ratio of 1.37 and a beta of 1.78. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.42.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, October 30th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.21. Western Digital had a return on equity of 30.89% and a net margin of 21.37%.The company had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The firm’s revenue was up 27.4% compared to the same quarter last year. Western Digital has set its Q2 2026 guidance at 1.730-2.030 EPS. Analysts expect that Western Digital will post 4.89 EPS for the current year.

Insider Activity at Western Digital

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $150.69, for a total value of $3,013,800.00. Following the completion of the sale, the chief executive officer directly owned 645,467 shares in the company, valued at approximately $97,265,422.23. This trade represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Roxanne Oulman sold 1,800 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $154.42, for a total transaction of $277,956.00. Following the transaction, the director owned 3,863 shares in the company, valued at $596,524.46. This represents a 31.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 26,369 shares of company stock valued at $4,013,785 in the last ninety days. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WDC. Perigon Wealth Management LLC increased its stake in Western Digital by 29.9% during the 4th quarter. Perigon Wealth Management LLC now owns 6,413 shares of the data storage provider’s stock valued at $1,105,000 after purchasing an additional 1,475 shares in the last quarter. BridgePort Financial Solutions LLC acquired a new position in shares of Western Digital during the fourth quarter valued at about $560,000. Aberdeen Group plc increased its position in shares of Western Digital by 11.6% during the fourth quarter. Aberdeen Group plc now owns 272,487 shares of the data storage provider’s stock worth $46,941,000 after acquiring an additional 28,227 shares in the last quarter. Worth Financial Advisory Group LLC acquired a new stake in shares of Western Digital in the 4th quarter worth about $249,000. Finally, Earned Wealth Advisors LLC lifted its position in Western Digital by 4.3% in the 4th quarter. Earned Wealth Advisors LLC now owns 4,449 shares of the data storage provider’s stock valued at $766,000 after acquiring an additional 182 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

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.