Western Digital Stock Price, News & Analysis (NASDAQ:WDC)

15 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Western Digital in the last year. There are currently 6 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" WDC shares.
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15 Wall Street research analysts have issued 1-year target prices for Western Digital's shares. Their WDC share price targets range from $36.00 to $60.00. On average, they expect the company's stock price to reach $49.50 in the next twelve months. This suggests a possible upside of 3.0% from the stock's current price.
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Western Digital's stock was trading at $31.55 at the start of the year. Since then, WDC stock has increased by 52.3% and is now trading at $48.04.
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Western Digital saw a increase in short interest during the month of November. As of November 15th, there was short interest totaling 16,160,000 shares, an increase of 89.2% from the October 31st total of 8,540,000 shares. Based on an average daily trading volume, of 4,650,000 shares, the days-to-cover ratio is presently 3.5 days.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, January 30th 2024.
View our WDC earnings forecast.

Western Digital Co. (NASDAQ:WDC) announced its quarterly earnings data on Monday, October, 30th. The data storage provider reported ($1.76) EPS for the quarter, topping the consensus estimate of ($1.91) by $0.15. The data storage provider earned $2.75 billion during the quarter, compared to analysts' expectations of $2.66 billion. Western Digital had a negative trailing twelve-month return on equity of 18.01% and a negative net margin of 21.34%. The firm's revenue for the quarter was down 26.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.02) EPS.
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Western Digital (NASDAQ:WDC) pays an annual dividend of $2.00 per share and currently has a dividend yield of 0.00%.
Read our dividend analysis for WDC.

ETFs with the largest weight of Western Digital (NASDAQ:WDC) stock in their portfolio include Global X Data Center REITs & Digital Infrastructure ETF (VPN), Fidelity Cloud Computing ETF (FCLD), Invesco S&P 500 Pure Value ETF (RPV), Columbia Seligman Semiconductor and Technology ETF (SEMI), Invesco ESG NASDAQ Next Gen 100 ETF (QQJG), IQ U.S. Mid Cap R&D Leaders ETF (MRND), Invesco S&P 500 Equal Weight Technology ETF (RSPT) and Invesco S&P 500 Equal Weight Technology ETF (RYT).

Western Digital issued an update on its second quarter 2024 earnings guidance on Monday, October, 30th. The company provided EPS guidance of -$1.35--$1.05 for the period, compared to the consensus estimate of -$1.39. The company issued revenue guidance of $2.85 billion-$3.05 billion, compared to the consensus revenue estimate of $2.92 billion.

70 employees have rated Western Digital Chief Executive Officer David Goeckeler on Glassdoor.com. David Goeckeler has an approval rating of 84% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Western Digital investors own include Micron Technology (MU), NVIDIA (NVDA), Alibaba Group (BABA), Intel (INTC), Advanced Micro Devices (AMD), Cisco Systems (CSCO), Netflix (NFLX), Visa (V), QUALCOMM (QCOM) and Gilead Sciences (GILD).

Western Digital's stock is owned by a number of institutional and retail investors. Top institutional shareholders include Nomura Holdings Inc. (4.15%), DnB Asset Management AS (1.59%), Northern Trust Corp (1.02%), Charles Schwab Investment Management Inc. (0.94%), Legal & General Group Plc (0.83%) and Maple Rock Capital Partners Inc. (0.77%). Insiders that own company stock include Gene M Zamiska, Lori S Sundberg, Michael Charles Ray, Paula A Price, Robert Soderbery and Srinivasan Sivaram.
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Shares of WDC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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