Western Digital (NASDAQ:WDC) Raised to Buy at Wall Street Zen

Western Digital (NASDAQ:WDC) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other analysts also recently issued reports on WDC. TD Cowen raised their target price on Western Digital from $200.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. New Street Research set a $250.00 price target on Western Digital in a research report on Tuesday, February 3rd. Susquehanna reiterated a “neutral” rating and set a $285.00 price target on shares of Western Digital in a research note on Friday, February 6th. UBS Group set a $306.00 price objective on Western Digital in a report on Friday, January 30th. Finally, Truist Financial set a $310.00 price objective on Western Digital in a research note on Tuesday, February 3rd. Twenty-one analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and an average price target of $275.75.

Western Digital Price Performance

WDC opened at $294.97 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The stock has a market cap of $100.01 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 0.68 and a beta of 1.77. Western Digital has a twelve month low of $28.83 and a twelve month high of $319.62. The company’s 50-day moving average price is $277.62 and its two-hundred day moving average price is $200.88.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.20. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.93 billion. Western Digital had a net margin of 35.52% and a return on equity of 41.53%. Western Digital’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.77 EPS. As a group, equities analysts expect that Western Digital will post 4.89 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Matthew E. Massengill sold 36,926 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $260.43, for a total transaction of $9,616,638.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $255.44, for a total value of $5,108,800.00. Following the completion of the transaction, the chief executive officer owned 623,586 shares of the company’s stock, valued at approximately $159,288,807.84. This represents a 3.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 92,795 shares of company stock valued at $24,265,884 in the last ninety days. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Western Digital

A number of large investors have recently modified their holdings of WDC. ORG Partners LLC lifted its stake in Western Digital by 124.5% in the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 117 shares in the last quarter. Rakuten Securities Inc. grew its position in shares of Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 407 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in shares of Western Digital by 551.4% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 204 shares in the last quarter. Grove Bank & Trust bought a new position in shares of Western Digital in the third quarter worth $30,000. Finally, Westfuller Advisors LLC purchased a new stake in shares of Western Digital in the third quarter worth $30,000. 92.51% of the stock is currently owned by institutional investors.

Key Western Digital News

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

• Positive Sentiment: Analyst upgrades and buy-side repositioning pushed WDC sharply higher — Bernstein upgraded WDC to Outperform, sparking double-digit intraday gains as investors positioned ahead of earnings and viewed recent dips as buying opportunities. Western Digital (WDC) Shares Skyrocket, What You Need To Know
• Positive Sentiment: Macro/industry tailwinds from an AI-driven storage squeeze: analysts and industry pieces note hyperscalers are locking long-term HDD/nearline capacity, leaving WDC sold out into 2026 and improving margins and visibility — a structural demand story supporting higher revenue and valuation. There’s A Storage Problem With AI Inference – And Western Digital Knows It
• Neutral Sentiment: Sector-focused products and ETFs are increasing investor attention to memory/storage names (e.g., launch of a Roundhill Memory ETF), which can amplify flows into WDC but also concentrate volatility. Roundhill Investments Launches First-Ever Memory ETF (DRAM)
• Neutral Sentiment: Pre-earnings positioning: coverage pieces noting WDC’s strong YTD returns and valuation checks are keeping the stock in focus; these narratives support trading interest but are mixed for near-term direction until results are released. Western Digital (WDC) Valuation Check As AI Storage Optimism And Q3 2026 Earnings Expectations Build
• Negative Sentiment: Zacks downgraded WDC from “strong-buy” to “hold,” a headline that can trigger short-term selling by momentum-driven funds or cautious investors re-evaluating conviction after a large run-up. Zacks.com
• Negative Sentiment: Broader market risk and short-term profit-taking: rising rate/inflation worries and sector rotation led to pullbacks across tech; Benzinga noted a recent intraday pullback and volatility that pressured WDC briefly. What’s Going On With Western Digital Stock Thursday?

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.