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

Key Points

• Susquehanna raised its price target on Western Digital from $360 to $500, while keeping a neutral rating. The new target still implies about 6% downside from the current share price.
• Other analysts remain generally constructive: UBS, Evercore, Citigroup, and Mizuho have all lifted targets or maintained bullish views. Overall, Western Digital has a consensus rating of Moderate Buy with an average target near $502.
• Western Digital recently reported strong quarterly results, with EPS of $2.72 beating estimates and revenue rising 45.5% year over year to $3.34 billion. The company also guided Q4 2026 EPS to $3.10–$3.40, though some recent insider sales and sector volatility have kept attention on the stock.

Western Digital (NASDAQ:WDC - Get Free Report) had its price target hoisted by equities research analysts at Susquehanna from $360.00 to $500.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the data storage provider's stock. Susquehanna's target price would indicate a potential downside of 6.03% from the company's current price.

Several other equities analysts also recently commented on the stock. UBS Group increased their price objective on shares of Western Digital from $350.00 to $375.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Evercore reiterated an "outperform" rating and issued a $575.00 price target on shares of Western Digital in a research note on Tuesday, May 26th. Wall Street Zen raised Western Digital from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Citigroup increased their target price on Western Digital from $500.00 to $685.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Finally, Mizuho lifted their price target on shares of Western Digital from $550.00 to $685.00 and gave the stock an "outperform" rating in a report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $502.12.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $532.10 on Wednesday. The company's 50 day simple moving average is $545.76 and its 200 day simple moving average is $365.92. The stock has a market capitalization of $183.40 billion, a price-to-earnings ratio of 31.77 and a beta of 2.11. Western Digital has a 1 year low of $63.67 and a 1 year high of $799.87.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter last year, the company posted $1.36 EPS. The company's revenue for the quarter was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, analysts anticipate that Western Digital will post 9.6 EPS for the current fiscal year.

Insider Activity at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction on Friday, May 1st. The shares were sold at an average price of $411.84, for a total value of $8,236,800.00. Following the completion of the sale, the chief executive officer owned 598,150 shares in the company, valued at $246,342,096. The trade was a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cynthia L. Tregillis sold 432 shares of the company's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $545.60, for a total transaction of $235,699.20. Following the transaction, the insider owned 116,643 shares in the company, valued at approximately $63,640,420.80. The trade was a 0.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 29,322 shares of company stock worth $12,768,550. Corporate insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Western Digital

Large investors have recently bought and sold shares of the stock. Dogwood Wealth Management LLC boosted its holdings in Western Digital by 28.6% during the second quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider's stock worth $57,000 after purchasing an additional 20 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in Western Digital by 2.1% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 1,390 shares of the data storage provider's stock valued at $888,000 after purchasing an additional 28 shares during the period. GHP Investment Advisors Inc. increased its position in shares of Western Digital by 9.2% during the 1st quarter. GHP Investment Advisors Inc. now owns 357 shares of the data storage provider's stock valued at $97,000 after purchasing an additional 30 shares during the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of Western Digital by 33.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the data storage provider's stock worth $36,000 after buying an additional 33 shares during the last quarter. Finally, City Center Advisors LLC grew its position in Western Digital by 3.5% during the second quarter. City Center Advisors LLC now owns 1,101 shares of the data storage provider's stock valued at $703,000 after buying an additional 37 shares during the period. 92.51% of the stock is currently owned by institutional investors.

More Western Digital News

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

• Positive Sentiment: Goldman Sachs reportedly initiated/issued a Hold on Western Digital, while other analysts remain constructive on the memory cycle and some price targets in the group stay well above current levels. Western Digital (WDC) Gets a Hold from Goldman Sachs
• Positive Sentiment: Some commentary says the pullback may be a reset rather than a trend change, with tight supply in data-center storage and AI-related demand still supporting the longer-term investment case for WDC. Flash Crash or Cash? The AI Hardware Reset Investors Can’t Ignore (WDC)
• Neutral Sentiment: Western Digital has also been a trending stock on investor sites, reflecting elevated attention rather than a clear fundamental change. Here is What to Know Beyond Why Western Digital Corporation (WDC) is a Trending Stock
• Negative Sentiment: Western Digital fell with the broader memory/storage cohort after Samsung’s results triggered sector-wide selling and renewed concerns about near-term volatility in chip and storage names. Western Digital Stock Drops 8.5%: Why Samsung’s Profit Surge Triggered a Tech Selloff
• Negative Sentiment: Another report said WDC and peers sank as investors worried Samsung’s strong quarter could still lead to a broader memory-sector pullback and valuation compression. Micron, SanDisk, and Western Digital Sink 7% as Samsung Earnings Spark a Memory Selloff

Western Digital Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.