Western Digital (WDC) Stock Forecast, Price & News

17 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Western Digital in the last twelve months. There are currently 2 sell ratings, 7 hold ratings and 8 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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17 equities research analysts have issued 12-month price objectives for Western Digital's shares. Their WDC share price forecasts range from $28.00 to $80.00. On average, they predict the company's stock price to reach $46.67 in the next twelve months. This suggests a possible upside of 20.5% from the stock's current price.
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Western Digital's stock was trading at $31.55 on January 1st, 2023. Since then, WDC shares have increased by 22.8% and is now trading at $38.73.
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The company is scheduled to release its next quarterly earnings announcement on Friday, August 4th 2023.
View our WDC earnings forecast.

Western Digital Co. (NASDAQ:WDC) released its quarterly earnings data on Tuesday, January, 31st. The data storage provider reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.08) by $0.34. The data storage provider had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.97 billion. Western Digital had a negative trailing twelve-month return on equity of 1.90% and a negative net margin of 4.87%. Western Digital's revenue was down 35.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.03 earnings per share.
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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), Fidelity Cloud Computing ETF (FCLD), IQ U.S. Mid Cap R&D Leaders ETF (MRND), Invesco S&P 500 Pure Value ETF (RPV), First Trust Technology AlphaDEX Fund (FXL), Invesco ESG NASDAQ Next Gen 100 ETF (QQJG), VictoryShares Nasdaq Next 50 ETF (QQQN) and Invesco S&P 500 Equal Weight Technology ETF (RYT).

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.

Western Digital issued an update on its fourth quarter 2023 earnings guidance on Monday, May, 8th. The company provided EPS guidance of -$2.20--$1.90 for the period, compared to the consensus earnings per share estimate of -$1.22. The company issued revenue guidance of $2.40 billion-$2.60 billion, compared to the consensus revenue estimate of $2.86 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 number of retail and institutional investors. Top institutional investors include Price T Rowe Associates Inc. MD (7.08%), Nomura Holdings Inc. (3.32%), Geode Capital Management LLC (2.14%), Parnassus Investments LLC (1.41%), DnB Asset Management AS (1.39%) and Dimensional Fund Advisors LP (1.07%). 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 $38.73.

Western Digital (NASDAQ:WDC) has a market capitalization of $12.39 billion and generates $14.17 billion in revenue each year. The data storage provider earns $1.50 billion in net income (profit) each year or ($2.19) 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.