Western Digital (NASDAQ:WDC) Price Target Raised to $105.00

Key Points

• Barclays raised its price target for Western Digital from $80.00 to $105.00, reflecting a potential upside of 10.50% based on the company’s previous close.
• Western Digital's quarterly earnings exceeded expectations, reporting an EPS of $1.66 and revenue of $2.61 billion, up 30% year-over-year.
• Multiple research firms have revised their price targets upwards for Western Digital, with the average target now at $81.89 and a consensus rating of "Moderate Buy".

Western Digital (NASDAQ:WDC - Get Free Report) had its price objective lifted by equities research analysts at Barclays from $80.00 to $105.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the data storage provider's stock. Barclays's target price indicates a potential upside of 10.50% from the company's previous close.

A number of other research firms have also recently weighed in on WDC. Mizuho raised their price objective on Western Digital from $75.00 to $87.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. UBS Group boosted their price objective on Western Digital from $45.00 to $75.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Citigroup boosted their price objective on Western Digital from $88.00 to $110.00 and gave the company a "buy" rating in a report on Monday. Morgan Stanley lifted their price target on Western Digital from $92.00 to $99.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Finally, Benchmark lifted their price target on Western Digital from $58.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $81.89.

Western Digital Price Performance

Shares of WDC stock opened at $95.02 on Thursday. The stock has a 50 day moving average price of $75.03 and a 200 day moving average price of $56.54. The firm has a market capitalization of $33.15 billion, a P/E ratio of 18.45, a P/E/G ratio of 1.14 and a beta of 1.69. Western Digital has a 52-week low of $28.83 and a 52-week high of $96.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.08.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The data storage provider reported $1.66 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 the consensus estimate 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 last year, the business posted $1.44 EPS. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. As a group, sell-side analysts predict that Western Digital will post 4.89 earnings per share for the current year.

Insider Transactions at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 14,067 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the completion of the sale, the insider directly owned 135,351 shares in the company, valued at approximately $10,121,547.78. The trade was a 9.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vidyadhara K. Gubbi sold 11,343 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $90.29, for a total value of $1,024,159.47. Following the completion of the sale, the insider owned 151,596 shares of the company's stock, valued at $13,687,602.84. This trade represents a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,975 shares of company stock valued at $3,935,806 in the last 90 days. Corporate insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On Western Digital

Large investors have recently made changes to their positions in the stock. Private Wealth Management Group LLC grew its position in shares of Western Digital by 102.5% in the second quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider's stock valued at $26,000 after purchasing an additional 202 shares in the last quarter. Rakuten Securities Inc. grew its position in shares of Western Digital by 4,070.0% in the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 407 shares in the last quarter. NewSquare Capital LLC grew its position in shares of Western Digital by 86.9% in the second quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider's stock valued at $28,000 after purchasing an additional 205 shares in the last quarter. CNB Bank purchased a new stake in shares of Western Digital in the second quarter valued at approximately $37,000. Finally, Manchester Capital Management LLC lifted its holdings in Western Digital by 47.2% in the second quarter. Manchester Capital Management LLC now owns 577 shares of the data storage provider's stock valued at $37,000 after acquiring an additional 185 shares during the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

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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