Western Digital (NASDAQ:WDC) Releases Q4 2026 Earnings Guidance

Key Points

• Western Digital set Q4 2026 guidance at EPS $3.10–$3.40 and revenue $3.6B–$3.8B, both above consensus estimates of $2.69 EPS and $3.4B revenue.
• Shares climbed roughly 5.3% to $434.52 intraday on the update, with a market cap of $147.3B, a P/E of 43.6 and a 52‑week high near $442, reflecting strong investor reaction.
• Analysts remain largely positive—19 Buys vs. 4 Holds with a consensus target of $320.38 and several firms raising price targets—while insiders have recently sold stock in the last quarter.

Western Digital (NASDAQ:WDC - Get Free Report) updated its fourth quarter 2026 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 3.100-3.400 for the period, compared to the consensus estimate of 2.690. The company issued revenue guidance of $3.6 billion-$3.8 billion, compared to the consensus revenue estimate of $3.4 billion.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wall Street Zen downgraded Western Digital from a "buy" rating to a "hold" rating in a report on Sunday, April 12th. Wells Fargo & Company raised their target price on Western Digital from $260.00 to $335.00 and gave the company an "overweight" rating in a research note on Friday, January 30th. Evercore lifted their price target on Western Digital from $378.00 to $410.00 and gave the company an "outperform" rating in a research note on Monday, April 20th. Wedbush reiterated an "outperform" rating and set a $325.00 price target on shares of Western Digital in a research note on Monday, February 9th. Finally, TD Cowen raised their target price on Western Digital from $200.00 to $325.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Nineteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $320.38.

Western Digital Trading Up 5.3%

Shares of WDC traded up $21.76 during mid-day trading on Thursday, reaching $434.52. The company's stock had a trading volume of 10,028,350 shares, compared to its average volume of 9,247,093. The company's fifty day moving average price is $311.33 and its two-hundred day moving average price is $231.78. Western Digital has a 52 week low of $43.60 and a 52 week high of $441.99. The company has a current ratio of 1.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The stock has a market cap of $147.32 billion, a PE ratio of 43.58, a P/E/G ratio of 0.84 and a beta of 1.77.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.34 by $0.38. Western Digital had a net margin of 35.52% and a return on equity of 41.53%. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, analysts predict that Western Digital will post 8.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $255.44, for a total transaction of $5,108,800.00. Following the sale, the chief executive officer directly owned 623,586 shares of the company's stock, valued at approximately $159,288,807.84. This represents a 3.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cynthia L. Tregillis sold 9,324 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $268.27, for a total transaction of $2,501,349.48. Following the sale, the insider directly owned 121,682 shares in the company, valued at $32,643,630.14. This trade represents a 7.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 92,711 shares of company stock valued at $24,300,404 in the last quarter. 0.18% of the stock is owned by insiders.

Key Western Digital News

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

• Positive Sentiment: Seagate’s strong Q3 results and bullish guidance lifted the whole storage sector, boosting investor confidence that AI hyperscalers will keep buying high‑capacity drives. Seagate Stock Soars After AI Demand Powers Big Earnings Beat
• Positive Sentiment: Concrete supply tightness: reports that Seagate is effectively sold out through 2027 highlight multi‑year contracts from hyperscalers and suggest sustained nearline disk demand — a direct positive signal for WDC’s TAM and pricing power. Seagate Is Sold Out Through 2027 As AI Reshapes Hard Drive Demand
• Positive Sentiment: Analysts are revising forecasts and price targets ahead of WDC’s print, and some firms are highlighting higher Q3 EPS/revenue expectations — reinforcing momentum into the report. Western Digital Likely To Report Higher Q3 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Positive Sentiment: Sector rotation into HDD “picks‑and‑shovels” stocks (WDC, STX) is amplifying flows as investors hunt for AI‑infrastructure exposure beyond chip names. The HDD Trade Just Crushed Everything in April: WDC and STX Lead the Picks-and-Shovels Rotation
• Neutral Sentiment: WDC’s upcoming Q3 report (today) is a catalyst — it could reinforce the rally if results/guide match the AI demand narrative, or introduce volatility if management is more cautious. Dear Western Digital Stock Fans, Mark Your Calendars for April 30
• Neutral Sentiment: WDC has a sizeable $4B buyback authorization, which supports shares over time but won’t eliminate near‑term earnings/capex risk tied to customer build schedules. Western Digital Likely To Report Higher Q3 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Negative Sentiment: Risk: the rally is momentum‑driven and correlated to Seagate’s news — any sign that AI ordering cools, or that capacity ramps from HAMR competitors loosen pricing, could reverse gains quickly. Why Western Digital Stock Is Surging On Thursday?

Hedge Funds Weigh In On Western Digital

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. raised its stake in Western Digital by 0.8% during the 4th quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider's stock worth $811,000 after acquiring an additional 37 shares during the period. Siemens Fonds Invest GmbH raised its position in shares of Western Digital by 1.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 4,847 shares of the data storage provider's stock valued at $853,000 after buying an additional 89 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Western Digital by 2.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,475 shares of the data storage provider's stock valued at $599,000 after buying an additional 96 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Western Digital by 24.7% during the third quarter. Larson Financial Group LLC now owns 575 shares of the data storage provider's stock valued at $69,000 after buying an additional 114 shares during the last quarter. Finally, Sumitomo Life Insurance Co. grew its holdings in shares of Western Digital by 0.8% in the fourth quarter. Sumitomo Life Insurance Co. now owns 14,847 shares of the data storage provider's stock valued at $2,558,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company's stock.

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.

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