Western Digital Co. (NASDAQ:WDC - Free Report) - Investment analysts at Cantor Fitzgerald issued their FY2026 EPS estimates for shares of Western Digital in a report issued on Monday, June 9th. Cantor Fitzgerald analyst C. Muse anticipates that the data storage provider will post earnings of $5.15 per share for the year. Cantor Fitzgerald has a "Overweight" rating and a $65.00 price target on the stock. The consensus estimate for Western Digital's current full-year earnings is $4.89 per share.
Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The data storage provider reported $1.36 EPS for the quarter, beating the consensus estimate of $1.06 by $0.30. The business had revenue of ($1,465.00) million for the quarter, compared to analysts' expectations of $2.70 billion. Western Digital had a net margin of 9.95% and a return on equity of 15.68%. The firm's revenue was down 33.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS.
WDC has been the topic of several other reports. Bank of America boosted their price target on shares of Western Digital from $62.00 to $71.00 and gave the stock a "buy" rating in a research report on Monday. Benchmark upgraded shares of Western Digital from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a research note on Thursday, April 10th. TD Securities lowered their price objective on shares of Western Digital from $80.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley restated an "overweight" rating and set a $70.00 price objective (up from $54.00) on shares of Western Digital in a research note on Friday, May 23rd. Finally, BNP Paribas restated an "outperform" rating on shares of Western Digital in a research note on Friday, May 16th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $63.37.
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Western Digital Stock Down 0.5%
WDC traded down $0.28 during trading on Tuesday, hitting $55.67. The company had a trading volume of 4,390,840 shares, compared to its average volume of 6,455,250. The company has a market capitalization of $19.42 billion, a PE ratio of 13.25 and a beta of 1.49. Western Digital has a one year low of $28.83 and a one year high of $81.55. The firm's 50-day moving average price is $44.75 and its 200 day moving average price is $54.03. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60.
Western Digital announced that its Board of Directors has authorized a share buyback program on Tuesday, May 13th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the data storage provider to reacquire up to 11.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.
Western Digital Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Wednesday, June 4th. Western Digital's dividend payout ratio is currently 7.58%.
Insider Buying and Selling at Western Digital
In other Western Digital news, CEO Irving Tan sold 11,379 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $48.19, for a total value of $548,354.01. Following the completion of the sale, the chief executive officer now owns 605,481 shares of the company's stock, valued at $29,178,129.39. The trade was a 1.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Gene M. Zamiska sold 1,729 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $54.88, for a total transaction of $94,887.52. Following the completion of the sale, the senior vice president now directly owns 40,089 shares of the company's stock, valued at $2,200,084.32. This represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.
Institutional Trading of Western Digital
A number of institutional investors and hedge funds have recently made changes to their positions in WDC. Sierra Ocean LLC bought a new stake in shares of Western Digital during the 4th quarter worth approximately $29,000. Zions Bancorporation National Association UT bought a new stake in shares of Western Digital during the 1st quarter worth approximately $29,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Western Digital during the 4th quarter worth approximately $30,000. OFI Invest Asset Management bought a new stake in shares of Western Digital during the 4th quarter worth approximately $36,000. Finally, Allworth Financial LP lifted its holdings in shares of Western Digital by 34.1% during the 1st quarter. Allworth Financial LP now owns 955 shares of the data storage provider's stock worth $38,000 after acquiring an additional 243 shares during the period. Institutional investors own 92.51% of the company's stock.
About Western Digital
(
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Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.
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