Analysts Set Western Digital Corporation (NASDAQ:WDC) Price Target at $307.46

Shares of Western Digital Corporation (NASDAQ:WDC) have earned an average recommendation of “Moderate Buy” from the twenty-four research firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $320.3750.

A number of analysts have weighed in on the company. Susquehanna reiterated a “neutral” rating and issued a $285.00 target price on shares of Western Digital in a research note on Friday, February 6th. Bank of America increased their target price on Western Digital to $495.00 and gave the stock a “buy” rating in a research note on Monday. Argus set a $300.00 target price on Western Digital in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. increased their price target on Western Digital from $320.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Finally, Wells Fargo & Company increased their price target on Western Digital from $260.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th.

Insider Transactions at Western Digital

In other news, insider Cynthia L. Tregillis sold 9,324 shares of the 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 transaction, the insider owned 121,682 shares of the company’s stock, valued at approximately $32,643,630.14. This represents a 7.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew E. Massengill sold 36,926 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $260.43, for a total value of $9,616,638.18. The SEC filing for this sale provides additional information. Insiders sold a total of 92,711 shares of company stock worth $24,300,404 over the last quarter. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Western Digital

A number of hedge funds and other institutional investors have recently made changes to their positions in WDC. ORG Partners LLC grew its position in shares of Western Digital by 124.5% during the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock worth $25,000 after buying 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 worth $27,000 after buying 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 worth $29,000 after buying an additional 204 shares in the last quarter. Westfuller Advisors LLC bought a new stake in Western Digital during the third quarter valued at about $30,000. Finally, Avion Wealth boosted its position in Western Digital by 163.8% during the fourth quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Western Digital Stock Performance

WDC stock opened at $390.75 on Wednesday. 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 business’s fifty day simple moving average is $309.01 and its two-hundred day simple moving average is $230.51. Western Digital has a twelve month low of $40.58 and a twelve month high of $416.37. The firm has a market cap of $132.48 billion, a price-to-earnings ratio of 39.19, a PEG ratio of 0.84 and a beta of 1.77.

Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.20. Western Digital had a return on equity of 41.53% and a net margin of 35.52%.The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the firm posted $1.77 earnings per share. The business’s revenue was up 25.2% compared to the same quarter last year. Analysts predict that Western Digital will post 8.52 earnings per share for the current year.

Key Headlines Impacting Western Digital

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

• Positive Sentiment: Major analyst price‑target upgrades and bullish research are lifting sentiment: Cantor Fitzgerald and Bank of America raised targets sharply (Cantor to $500, BofA to $495), and UBS also recently lifted its target — signaling Wall Street sees sizable upside tied to a structural HDD supply tightness and improving memory pricing. Cantor Fitzgerald Raises Western Digital Price Target to $500
• Positive Sentiment: Analysts emphasize strong AI-driven NAND demand, improving pricing and margin leverage, plus big buybacks — all factors that support expectations for an earnings beat and higher free cash flow. WDC’s Q3 Earnings Likely to Beat Estimates
• Positive Sentiment: After‑hours strength is partially a sympathy rally with Seagate (STX) as the sector rallies on the same supply/pricing dynamics; that peer momentum is helping WDC shares recover late in the session. Western Digital Stock Is Soaring After The Close: Here’s Why
• Neutral Sentiment: Retail pricing noise: a steep discount on a WD_Black 2TB Xbox expansion card highlights promotional activity in the consumer channel — not necessarily a company-level earnings driver but worth monitoring for ASP/volume signaling. WD_Black 2TB Xbox Storage Expansion Card Drops to $0.11 per GB
• Neutral Sentiment: Options market is pricing in a large post‑earnings move (~11.6%), increasing short‑term volatility risk around the April 30 Q3 print — this raises trading noise even if fundamentals remain constructive. Western Digital Is About to Report Q3 Earnings. Options Traders Expect an 11.63% Move
• Negative Sentiment: Some research notes caution that analyst expectations and elevated price targets may already price in the best outcomes; that raises downside risk if the company merely meets (not exceeds) the high forecasts. Why The Western Digital (WDC) Story Is Shifting As Analysts Reset Targets And Expectations

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.