Western Digital (NASDAQ:WDC) Price Target Raised to $405.00 at Barclays

Western Digital (NASDAQ:WDC) had its price target hoisted by research analysts at Barclays from $325.00 to $405.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the data storage provider’s stock. Barclays‘s target price indicates a potential upside of 3.50% from the stock’s previous close.

Several other research firms also recently commented on WDC. Rosenblatt Securities reissued a “buy” rating and set a $340.00 target price on shares of Western Digital in a research report on Wednesday, February 4th. Zacks Research downgraded shares of Western Digital from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. TD Cowen increased their target price on shares of Western Digital from $200.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Wells Fargo & Company increased their target price on shares of Western Digital from $260.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Cantor Fitzgerald increased their price target on Western Digital to $325.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Twenty research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.79.

Western Digital Stock Up 2.0%

WDC traded up $7.50 during midday trading on Wednesday, hitting $391.31. 1,484,487 shares of the company’s stock traded hands, compared to its average volume of 9,317,669. The company has a market cap of $132.67 billion, a PE ratio of 39.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.77. The stock’s fifty day simple moving average is $297.35 and its 200-day simple moving average is $220.75. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 1.19. Western Digital has a one year low of $37.47 and a one year high of $402.00.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, January 29th. The data storage provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.20. The firm had revenue of $3.02 billion for 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%. The company’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.77 earnings per share. As a group, equities analysts anticipate that Western Digital will post 8.47 earnings per share for the current fiscal year.

Insider Activity at Western Digital

In other news, Director Matthew E. Massengill sold 36,926 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $260.43, for a total value of $9,616,638.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Cynthia L. Tregillis sold 9,324 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $268.27, for a total transaction of $2,501,349.48. Following the completion of the sale, the insider owned 121,682 shares in the company, valued at approximately $32,643,630.14. The trade was a 7.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 92,348 shares of company stock worth $24,163,521. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Western Digital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 worth $1,698,000 after buying an additional 3,019 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Western Digital by 229.7% during the first 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 in the last quarter. Sivia Capital Partners LLC acquired a new stake in Western Digital during the second quarter worth $307,000. Cresset Asset Management LLC acquired a new stake in shares of Western Digital during the 2nd quarter valued at about $292,000. Finally, Federated Hermes Inc. boosted its position in shares of Western Digital by 55.3% during the 2nd quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock valued at $152,000 after acquiring an additional 845 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

More Western Digital News

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

• Positive Sentiment: JPMorgan raised its price target on WDC to $400 and maintained an Overweight rating, part of a broader bullish view from major banks that WDC can benefit from secular AI/data-center demand. JPMorgan and Morgan Stanley Bullish on Western Digital (WDC)
• Positive Sentiment: Evercore boosted its price target and moved WDC to an outperform stance, contributing to analyst-driven upside and recent new 12‑month highs. Evercore price target raise / analyst upgrade
• Positive Sentiment: Industry fund flows into memory-focused ETFs (including SNDK, WDC, MU) have surged, helping bid up stocks in the sector as investors position for AI-driven capacity spending. SNDK, STX, MU, WDC rally powers first dedicated memory ETF to $1B AUM
• Positive Sentiment: Western Digital announced management will participate in upcoming investor conferences (Barclays, J.P. Morgan, Bank of America), which typically supports clearer guidance and investor confidence ahead of earnings. WD to Participate in Upcoming Investor Conferences
• Neutral Sentiment: Barclays reshuffled semiconductor coverage ahead of Q1 results, reallocating ratings across the space — a sector-wide reweighting that affects peers and WDC indirectly rather than signaling company-specific news. Barclays shifts semiconductor ratings ahead of earnings
• Neutral Sentiment: Analyst and media comparisons between SanDisk and Western Digital highlight differing end-market exposures (NAND flash vs HDD/total storage), useful context but not an immediate catalyst for WDC alone. SanDisk vs. Western Digital: Which Memory Storage Stock Is the Better Buy?
• Neutral Sentiment: Coverage noting buy zones in memory peers (e.g., Silicon Motion) underscores sector tailwinds that can lift WDC, but these are peer-derivative trading signals rather than direct company developments. A Micron And Western Digital Peer Flashes Fresh Buy Zone With Earnings On Tap
• Negative Sentiment: Analyses flag that while WDC is generating stronger cash flow from AI/data-center demand, its leverage remains a concern — a financing or flexibility risk that could temper upside if growth slows. Can Western Digital’s Strong Cash Flow Outweigh its Leverage Concerns?

About Western Digital

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.