Mizuho Increases Western Digital (NASDAQ:WDC) Price Target to $120.00

Key Points

• Mizuho has increased Western Digital's price target from $87.00 to $120.00, suggesting a potential upside of 14.12% from the stock's previous close.
• Western Digital's stock rose 4.2% after the revised price target was announced, indicating positive investor sentiment.
• Seventeen analysts have rated Western Digital as a Buy, with a consensus price target of $88.68.

Western Digital (NASDAQ:WDC - Get Free Report) had its price objective raised by equities research analysts at Mizuho from $87.00 to $120.00 in a report released on Friday,Benzinga reports. The firm presently has an "outperform" rating on the data storage provider's stock. Mizuho's price objective suggests a potential upside of 6.75% from the stock's previous close.

A number of other analysts have also commented on WDC. Susquehanna boosted their price objective on shares of Western Digital from $40.00 to $62.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Sanford C. Bernstein raised shares of Western Digital to a "hold" rating in a research report on Tuesday, September 16th. Rosenblatt Securities increased their price objective on shares of Western Digital from $53.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Wedbush lifted their target price on Western Digital from $78.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group started coverage on Western Digital in a research report on Thursday, July 10th. They set a "neutral" rating and a $70.00 price target for the company. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.68.

Western Digital Stock Up 5.4%

WDC stock traded up $5.78 during trading hours on Friday, reaching $112.41. 9,672,310 shares of the stock were exchanged, compared to its average volume of 8,000,547. The firm's 50-day moving average is $80.13 and its 200-day moving average is $59.35. Western Digital has a 12 month low of $28.83 and a 12 month high of $112.83. The company has a market cap of $39.22 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.20 and a beta of 1.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $2.45 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. Western Digital's revenue for the quarter was up 30.0% compared to the same quarter last year. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. On average, equities research analysts expect that Western Digital will post 4.89 earnings per share for the current year.

Insider Buying and Selling at Western Digital

In related news, CEO Irving Tan sold 8,621 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $75.90, for a total value of $654,333.90. Following the completion of the transaction, the chief executive officer owned 594,836 shares of the company's stock, valued at $45,148,052.40. The trade was a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Gene M. Zamiska sold 353 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $80.90, for a total transaction of $28,557.70. Following the completion of the transaction, the senior vice president owned 27,425 shares of the company's stock, valued at $2,218,682.50. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,730 shares of company stock worth $3,921,594. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Western Digital

A number of large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Western Digital by 52.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,838 shares of the data storage provider's stock worth $1,166,000 after buying an additional 9,974 shares in the last quarter. Parsifal Capital Management LP lifted its holdings in shares of Western Digital by 32.0% in the first quarter. Parsifal Capital Management LP now owns 897,574 shares of the data storage provider's stock worth $36,289,000 after acquiring an additional 217,574 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Western Digital in the 1st quarter valued at approximately $35,406,000. Asset Management One Co. Ltd. grew its holdings in shares of Western Digital by 5.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 144,307 shares of the data storage provider's stock valued at $5,834,000 after purchasing an additional 6,947 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Western Digital by 6.8% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 89,244 shares of the data storage provider's stock worth $3,608,000 after purchasing an additional 5,711 shares in the last quarter. Institutional investors and hedge funds 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.