The Goldman Sachs Group Increases Western Digital (NASDAQ:WDC) Price Target to $130.00

Key Points

• The Goldman Sachs Group has raised its price target for Western Digital from $78.00 to $130.00, reflecting a potential upside of 7.53% from the company's previous close.
• Western Digital has received ratings with a mix of "buy" and "hold" from various analysts, with a current average rating of "Moderate Buy" and a consensus target price of $94.63.
• The company's shares recently traded at $120.89, showing significant growth from a twelve-month low of $28.83 and a reported quarterly revenue increase of 30% year-over-year.

Western Digital (NASDAQ:WDC - Get Free Report) had its price target increased by stock analysts at The Goldman Sachs Group from $78.00 to $130.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the data storage provider's stock. The Goldman Sachs Group's target price indicates a potential upside of 7.53% from the company's previous close.

Several other equities research analysts have also recently commented on WDC. UBS Group raised their target price on Western Digital from $45.00 to $75.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Western Digital in a research note on Wednesday. TD Cowen raised their target price on Western Digital from $58.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Wedbush raised their target price on Western Digital from $78.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley raised their price objective on Western Digital from $92.00 to $99.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Seventeen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Western Digital has an average rating of "Moderate Buy" and a consensus target price of $94.63.

Western Digital Stock Performance

Shares of WDC stock traded up $0.96 during trading on Wednesday, reaching $120.89. 5,426,610 shares of the company's stock were exchanged, compared to its average volume of 8,190,153. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.47. The firm's fifty day moving average price is $92.19 and its 200-day moving average price is $65.51. Western Digital has a twelve month low of $28.83 and a twelve month high of $137.40. The stock has a market capitalization of $42.18 billion, a PE ratio of 23.46, a PEG ratio of 1.05 and a beta of 1.77.

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

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 3,160 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $75.68, for a total transaction of $239,148.80. Following the completion of the sale, the senior vice president directly owned 31,560 shares in the company, valued at $2,388,460.80. This represents a 9.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Irving Tan sold 8,621 shares of the stock in a transaction dated Tuesday, August 19th. The shares were 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 represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,730 shares of company stock valued at $3,921,594 over the last quarter. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Western Digital

Institutional investors and hedge funds have recently bought and sold shares of the business. Grove Bank & Trust purchased a new stake in Western Digital in the 3rd quarter worth approximately $30,000. Private Wealth Management Group LLC lifted its holdings in Western Digital by 102.5% in the 2nd quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider's stock worth $26,000 after buying an additional 202 shares during the period. Rakuten Securities Inc. lifted its holdings in Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock worth $27,000 after buying an additional 407 shares during the period. NewSquare Capital LLC lifted its holdings in Western Digital by 86.9% in the 2nd quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider's stock worth $28,000 after buying an additional 205 shares during the period. Finally, CNB Bank purchased a new stake in Western Digital in the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 92.51% of the company's stock.

About Western Digital

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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