Western Digital Corporation (NASDAQ:WDC) Stock Has Average Price Target of $591.04

Key Points

• Analyst sentiment is positive: Western Digital has a “Moderate Buy” consensus from 28 analysts, with an average 12-month price target of $591.04.
• Latest results beat expectations: Quarterly EPS was $4.64 versus the $4.11 consensus, while revenue of $4.38 billion exceeded forecasts and grew 55.5% year over year.
• AI demand is a key opportunity and risk: Demand for data-center storage and higher-capacity drives may support growth, but concerns that policy limits could slow data-center investment have contributed to stock volatility.

Western Digital Corporation (NASDAQ:WDC - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty-eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $591.04.

WDC has been the subject of several analyst reports. Bank of America increased their target price on shares of Western Digital from $720.00 to $800.00 and gave the stock a "buy" rating in a report on Wednesday, October 21st. Robert W. Baird set a $900.00 price target on shares of Western Digital in a report on Friday, October 23rd. Cantor Fitzgerald dropped their price target on shares of Western Digital from $900.00 to $625.00 and set an "overweight" rating for the company in a research report on Friday, October 23rd. Wells Fargo & Company reduced their price objective on shares of Western Digital from $730.00 to $450.00 and set an "overweight" rating for the company in a research note on Friday, October 16th. Finally, The Goldman Sachs Group set a $540.00 price objective on shares of Western Digital in a research note on Friday, October 23rd.

Western Digital Stock Down 1.4%

Shares of WDC opened at $263.78 on Friday. The business has a 50-day simple moving average of $406.75 and a two-hundred day simple moving average of $418.97. Western Digital has a 52 week low of $132.43 and a 52 week high of $799.87. The stock has a market cap of $98.74 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 0.93 and a beta of 2.27.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The data storage provider reported $4.64 earnings per share for the quarter, beating analysts' consensus estimates of $4.11 by $0.53. The firm had revenue of $4.38 billion for the quarter, compared to analysts' expectations of $4.14 billion. Western Digital had a return on equity of 55.62% and a net margin of 69.20%. The business's quarterly revenue was up 55.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 EPS. On average, equities analysts anticipate that Western Digital will post 23.62 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, December 4th will be issued a $0.1750 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $0.70 annualized dividend and a yield of 0.3%. This is an increase from Western Digital's previous quarterly dividend of $0.15. Western Digital's payout ratio is currently 2.33%.

Insider Buying and Selling

In other Western Digital news, insider Cynthia L. Tregillis sold 1,007 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $478.36, for a total transaction of $481,708.52. Following the sale, the insider directly owned 112,155 shares of the company's stock, valued at $53,650,465.80. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 1,795 shares of the business's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $459.87, for a total value of $825,466.65. Following the completion of the transaction, the insider owned 80,571 shares in the company, valued at $37,052,185.77. The trade was a 2.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 25,436 shares of company stock valued at $11,340,064. Company insiders own 0.20% of the company's stock.

Institutional Trading of Western Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ibex Wealth Advisors purchased a new stake in shares of Western Digital during the 3rd quarter worth about $619,000. Diversified Trust Co grew its position in shares of Western Digital by 5.8% during the 3rd quarter. Diversified Trust Co now owns 5,421 shares of the data storage provider's stock valued at $2,464,000 after acquiring an additional 296 shares during the period. Vista Capital Partners Inc. acquired a new stake in shares of Western Digital during the 3rd quarter valued at about $212,000. Aberdeen Group plc increased its stake in shares of Western Digital by 307.4% in the 3rd quarter. Aberdeen Group plc now owns 1,024,588 shares of the data storage provider's stock valued at $465,634,000 after purchasing an additional 773,103 shares in the last quarter. Finally, Moors & Cabot Inc. increased its stake in shares of Western Digital by 103.7% in the 3rd quarter. Moors & Cabot Inc. now owns 4,415 shares of the data storage provider's stock valued at $2,006,000 after purchasing an additional 2,248 shares in the last quarter. Institutional investors own 92.51% of the company's stock.

Key Western Digital News

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

• Positive Sentiment: Storage and memory stocks recovered as investors reassessed fears that election-related policy changes would derail AI investment. Strategists say the AI buildout is still expected to continue, though potentially on a longer timeline. Western Digital Stock Rebounds as Wall Street Bets AI Storage Demand Outlasts Election Rout
• Positive Sentiment: Fundamental commentary highlights stronger pricing, demand for higher-capacity hard drives, and operational efficiencies as drivers of Western Digital’s gross-margin expansion. Zacks Research also upgraded the stock from “hold” to “strong-buy.” Western Digital's Gross Margin Momentum: How Long Can It Last?
• Neutral Sentiment: Analyst sentiment remains broadly supportive, with a reported consensus Buy rating and average price target near $589. However, one valuation estimate was recently reduced from $650.67 to $613.38, reflecting a reassessment of HDD strength, spending plans, and future supply. Nasdaq Suffers Worst AI Panic in Years as Nvidia, SanDisk, and Western Digital Sink Western Digital Stock Sees Fair Value Cut
• Negative Sentiment: Investors are concerned that proposed federal oversight, permitting restrictions, or caps on new data centers could slow AI infrastructure spending—an important source of expected storage demand. That concern drove a sharp selloff Thursday before the reported rebound. Why Are Western Digital Shares Falling on AI Data Center Policy Risk?

About Western Digital

Western Digital Corporation NASDAQ: WDC develops and supplies hard disk drives (HDDs) and related data-storage products. Its drives serve data centers and cloud providers, as well as businesses and consumers who need storage for computers, network-attached storage systems, surveillance and other applications. Its product brands include WD and Ultrastar.

Founded in 1970, the company began as an electronics and semiconductor business before expanding into data storage. In February 2025, Western Digital completed the separation of its flash-memory business into the independently traded SanDisk Corporation, leaving Western Digital focused on HDDs.

Western Digital serves customers around the world.

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