Rosenblatt Securities Issues Positive Forecast for Western Digital (NASDAQ:WDC) Stock Price

Key Points

• Rosenblatt Securities has raised its target price for Western Digital (NASDAQ:WDC) from $90.00 to $125.00, indicating a potential upside of 16.95% from the last close.
• The stock currently holds a consensus rating of "Moderate Buy" from analysts, with 17 Buy ratings and a target price of $91.47.
• Western Digital's quarterly earnings exceeded expectations, posting $1.66 earnings per share on revenue of $2.61 billion, marking a 30% year-over-year revenue increase.

Western Digital (NASDAQ:WDC - Get Free Report) had its target price lifted by equities researchers at Rosenblatt Securities from $90.00 to $125.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the data storage provider's stock. Rosenblatt Securities' price objective would indicate a potential upside of 16.95% from the company's previous close.

A number of other research firms also recently weighed in on WDC. UBS Group raised their price target on Western Digital from $45.00 to $75.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Wedbush raised their price objective on Western Digital from $78.00 to $90.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. The Goldman Sachs Group began coverage on Western Digital in a research note on Thursday, July 10th. They issued a "neutral" rating and a $70.00 price objective on the stock. Wells Fargo & Company raised their price objective on Western Digital from $80.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Mizuho raised their price objective on Western Digital from $87.00 to $120.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.47.

Western Digital Stock Down 0.3%

WDC opened at $106.88 on Monday. Western Digital has a fifty-two week low of $28.83 and a fifty-two week high of $113.75. The business has a 50-day moving average of $84.34 and a 200-day moving average of $61.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84. The company has a market capitalization of $37.29 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 0.91 and a beta of 1.69.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.18. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period last year, the business earned $1.44 EPS. The business's quarterly revenue was up 30.0% on a year-over-year basis. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. Equities research analysts forecast that Western Digital will post 4.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Western Digital news, CEO Irving Tan sold 8,621 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $75.90, for a total value of $654,333.90. Following the sale, the chief executive officer owned 594,836 shares of the company's stock, valued at $45,148,052.40. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Cynthia L. Tregillis sold 14,067 shares of Western Digital stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $74.78, for a total value of $1,051,930.26. Following the sale, the insider directly owned 135,351 shares in the company, valued at $10,121,547.78. The trade was a 9.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,730 shares of company stock worth $3,921,594. Corporate insiders own 0.30% of the company's stock.

Institutional Trading of Western Digital

Several institutional investors have recently modified their holdings of WDC. CVA Family Office LLC lifted its holdings in Western Digital by 23.7% during the 2nd quarter. CVA Family Office LLC now owns 904 shares of the data storage provider's stock worth $58,000 after purchasing an additional 173 shares during the last quarter. Manchester Capital Management LLC increased its stake in Western Digital by 47.2% during the 2nd quarter. Manchester Capital Management LLC now owns 577 shares of the data storage provider's stock worth $37,000 after acquiring an additional 185 shares during the period. Forum Financial Management LP increased its stake in Western Digital by 3.4% during the 2nd quarter. Forum Financial Management LP now owns 5,895 shares of the data storage provider's stock worth $377,000 after acquiring an additional 193 shares during the period. UMB Bank n.a. increased its stake in Western Digital by 6.2% during the 2nd quarter. UMB Bank n.a. now owns 3,465 shares of the data storage provider's stock worth $222,000 after acquiring an additional 202 shares during the period. Finally, Private Wealth Management Group LLC increased its stake in Western Digital by 102.5% during the 2nd quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider's stock worth $26,000 after acquiring an additional 202 shares during the period. 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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