FY2025 EPS Estimate for Western Digital Decreased by Analyst

Western Digital Co. (NASDAQ:WDC - Free Report) - Equities research analysts at Cantor Fitzgerald lowered their FY2025 EPS estimates for shares of Western Digital in a report issued on Thursday, May 1st. Cantor Fitzgerald analyst C. Muse now expects that the data storage provider will post earnings per share of $3.93 for the year, down from their prior forecast of $4.11. Cantor Fitzgerald currently has a "Overweight" rating and a $65.00 target price on the stock. The consensus estimate for Western Digital's current full-year earnings is $4.89 per share.

A number of other equities research analysts also recently commented on WDC. Wedbush reaffirmed an "outperform" rating and issued a $60.00 price objective on shares of Western Digital in a research report on Thursday. Susquehanna lowered their price target on Western Digital from $72.00 to $40.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Robert W. Baird cut their price objective on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating on the stock in a report on Thursday, January 30th. Summit Insights raised shares of Western Digital from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Finally, TD Cowen dropped their price target on shares of Western Digital from $80.00 to $58.00 and set a "buy" rating for the company in a research report on Thursday. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $65.65.

Western Digital Stock Up 1.7 %

Shares of NASDAQ WDC opened at $44.69 on Monday. The firm's 50 day moving average price is $40.46 and its 200 day moving average price is $56.98. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The firm has a market cap of $15.54 billion, a P/E ratio of 10.64 and a beta of 1.42. Western Digital has a 1 year low of $28.83 and a 1 year high of $81.55.

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, topping analysts' consensus estimates of $1.06 by $0.30. The firm had revenue of ($1,465.00) million during the quarter, compared to analysts' expectations of $2.70 billion. Western Digital had a return on equity of 15.68% and a net margin of 9.95%. The firm's quarterly revenue was down 33.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS.

Western Digital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.90%. Western Digital's payout ratio is currently 7.58%.

Insider Activity

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the sale, the senior vice president now directly owns 43,776 shares in the company, valued at $1,810,575.36. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.30% of the company's stock.

Institutional Trading of Western Digital

A number of hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new position in Western Digital during the 3rd quarter worth $183,000. Tidal Investments LLC grew its stake in Western Digital by 123.5% in the third quarter. Tidal Investments LLC now owns 41,028 shares of the data storage provider's stock worth $2,802,000 after purchasing an additional 22,670 shares in the last quarter. Synovus Financial Corp increased its holdings in Western Digital by 20.0% in the third quarter. Synovus Financial Corp now owns 9,562 shares of the data storage provider's stock valued at $653,000 after buying an additional 1,591 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Western Digital by 9.3% during the third quarter. B. Riley Wealth Advisors Inc. now owns 3,745 shares of the data storage provider's stock valued at $252,000 after buying an additional 319 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Western Digital by 278.9% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock worth $25,000 after buying an additional 304 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company's stock.

Western Digital Company Profile

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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