Western Digital - WDC Stock Forecast, Price & News

19 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Western Digital in the last year. There are currently 2 sell ratings, 8 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" WDC shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in WDC, but not buy additional shares or sell existing shares.
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19 brokerages have issued 1 year price objectives for Western Digital's stock. Their WDC share price forecasts range from $28.00 to $80.00. On average, they predict the company's share price to reach $50.19 in the next twelve months. This suggests a possible upside of 44.6% 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 shares have increased by 10.0% and is now trading at $34.70.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, April 27th 2023.
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Western Digital Co. (NASDAQ:WDC) released its quarterly earnings results on Tuesday, January, 31st. The data storage provider reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by $0.34. The data storage provider earned $3.11 billion during the quarter, compared to the consensus estimate of $2.97 billion. Western Digital had a negative net margin of 0.59% and a positive trailing twelve-month return on equity of 5.78%. Western Digital's revenue for the quarter was down 35.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.03 EPS.
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ETFs with the largest weight of Western Digital (NASDAQ:WDC) stock in their portfolio include Columbia Seligman Semiconductor and Technology ETF (SEMI), IQ U.S. Mid Cap R&D Leaders ETF (MRND), Fidelity Cloud Computing ETF (FCLD), First Trust Technology AlphaDEX Fund (FXL), Invesco S&P 500 Pure Value ETF (RPV), Invesco S&P 500 Equal Weight Technology ETF (RYT), Invesco ESG NASDAQ Next Gen 100 ETF (QQJG) and Democratic Large Cap Core ETF (DEMZ).

Western Digital updated its third quarter 2023 earnings guidance on Tuesday, January, 31st. The company provided earnings per share guidance of -$1.70--$1.40 for the period, compared to the consensus EPS estimate of -$0.30. The company issued revenue guidance of $2.60 billion-$2.80 billion, compared to the consensus revenue estimate of $3.01 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 trades on the NASDAQ under the ticker symbol "WDC."

Western Digital's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Price T Rowe Associates Inc. MD (6.47%), Franklin Resources Inc. (2.53%), Geode Capital Management LLC (2.13%), DNB Asset Management AS (1.82%), Parnassus Investments LLC (1.45%) and Alliancebernstein L.P. (1.42%). Insiders that own company stock include Gene M Zamiska, Lori S Sundberg, Lori S Sundberg, Michael Charles Ray, Paula A Price 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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One share of WDC stock can currently be purchased for approximately $34.70.

Western Digital (NASDAQ:WDC) has a market capitalization of $11.08 billion and generates $18.79 billion in revenue each year. The data storage provider earns $1.50 billion in net income (profit) each year or ($0.29) on an earnings per share basis.

The company employs 65,000 workers across the globe.

Western Digital's mailing address is 5601 GREAT OAKS PARKWAY, SAN JOSE CA, 95119. The official website for the company is www.westerndigital.com. The data storage provider can be reached via phone at (408) 717-6000, via email at investor@wdc.com, or via fax at 949-672-5408.