Western Digital (NASDAQ:WDC) Given New $335.00 Price Target at Wells Fargo & Company

Western Digital (NASDAQ:WDC) had its target price raised by Wells Fargo & Company to $335.00 in a research note released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the data storage provider’s stock.

WDC has been the topic of a number of other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Western Digital in a research note on Monday, December 29th. Susquehanna upped their price target on shares of Western Digital from $135.00 to $205.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Benchmark increased their price objective on shares of Western Digital from $115.00 to $163.00 and gave the stock a “buy” rating in a report on Friday, October 31st. China Renaissance initiated coverage on shares of Western Digital in a research note on Friday, December 5th. They issued a “buy” rating and a $193.00 target price for the company. Finally, Rosenblatt Securities upped their target price on shares of Western Digital from $165.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $244.95.

Western Digital Price Performance

Shares of Western Digital stock opened at $250.23 on Friday. The stock has a market capitalization of $85.55 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 1.33 and a beta of 1.78. The firm’s 50-day moving average price is $193.60 and its two-hundred day moving average price is $136.62. 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 has a 1-year low of $28.83 and a 1-year high of $285.42.

Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.20. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Western Digital had a net margin of 35.52% and a return on equity of 44.67%. Western Digital’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.77 earnings per share. On average, equities analysts predict that Western Digital will post 4.89 earnings per share for the current fiscal year.

Western Digital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Thursday, March 5th will be given a dividend of $0.125 per share. The ex-dividend date is Thursday, March 5th. This represents a $0.50 annualized dividend and a dividend yield of 0.2%. Western Digital’s payout ratio is currently 5.02%.

Insider Buying and Selling at Western Digital

In related news, Director Kimberly Alexy sold 1,768 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $154.00, for a total value of $272,272.00. Following the transaction, the director directly owned 3,585 shares in the company, valued at $552,090. This represents a 33.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $150.69, for a total transaction of $3,013,800.00. Following the sale, the chief executive officer directly owned 645,467 shares of the company’s stock, valued at $97,265,422.23. This represents a 3.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 26,816 shares of company stock valued at $4,116,148. 0.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Western Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC boosted its holdings in Western Digital by 124.5% during the third quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock worth $25,000 after buying an additional 117 shares during the last quarter. Private Wealth Management Group LLC raised its position in shares of Western Digital by 102.5% in the 2nd quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock valued at $26,000 after acquiring an additional 202 shares during the period. Rakuten Securities Inc. raised its position in shares of Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 407 shares during the period. NewSquare Capital LLC boosted its stake in Western Digital by 86.9% during the 2nd quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 205 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in Western Digital by 551.4% during the third 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 during the period. Institutional investors own 92.51% of the company’s stock.

Key Headlines Impacting Western Digital

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

• Positive Sentiment: Q2 results beat and upbeat guidance — WDC reported $2.13 EPS vs. ~$1.93 consensus and revenue of $3.02B (+25% Y/Y); management guided Q3 well above Street estimates, citing strong demand from AI/data center customers. Western Digital Reports Fiscal Second Quarter 2026 Financial Results
• Positive Sentiment: Analysts turn more bullish — several firms upped ratings/targets (Wells Fargo $335, Wedbush $325, TD Cowen to $325, Morgan Stanley, Citi maintain/raise Buy calls), reflecting expectations for sustained AI-led capacity demand and margin upside. Analyst Coverage & Price Target Changes
• Positive Sentiment: Management and CEO comments highlight AI-driven storage growth — CEO Irving Tan emphasized that AI inference is generating more data and requiring more storage, supporting ongoing demand for high‑capacity HDDs and flash. Western Digital CEO: AI inference is generating more data and requiring storage hence demand growth
• Positive Sentiment: Company to outline AI storage roadmap at Feb. 3 Innovation Day — investors have an upcoming event to get product/roadmap detail, which could provide further visibility on TAM and upside. Dear Western Digital Stock Fans, Mark Your Calendars for February 3
• Neutral Sentiment: Small quarterly dividend declared — WDC announced a $0.125 per‑share dividend (ex‑dividend Mar 5), a token yield that is unlikely to materially move the stock but may be noted by income investors.
• Negative Sentiment: Shares gave back gains after the initial rally — despite the beat and strong guide, intraday profit‑taking and repositioning pushed the stock down on elevated volume, suggesting some investors are booking gains after a rapid run. Western Digital Shares Give Up Gains After Earnings Beat, Strong Guidance
• Negative Sentiment: Technical/positioning risks — some analysts and market pieces noted WDC was overbought ahead of results; after a big run to an all‑time high, elevated expectations increase the risk of short‑term pullbacks. Overbought Ahead of Earnings

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.