NASDAQ:WDC

Western Digital - WDC Stock Forecast, Price & News

$32.72

+0.32 (+0.99%)

(As of 09/27/2022 12:00 AM ET)

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Today's Range: $32.31
▼
$32.99
50-Day Range: $32.40
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$50.67
52-Week Range: $32.31
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$69.36

Volume: 3.83 million shs
Average Volume: 4.75 million shs
Market Capitalization: $10.29 billion

P/E Ratio: 6.89
Dividend Yield: N/A
Price Target: $55.32

Western Digital MarketRank™ Forecast

Analyst Rating: Hold
2.25 Rating Score
Upside/Downside: 69.1% Upside
$55.32 Price Target
Short Interest: Healthy
2.62% of Shares Sold Short
Dividend Strength: N/A
Sustainability: -1.31
Upright™ Environmental Score
News Sentiment: 0.08
Based on 18 Articles This Week
Insider Trading: Selling Shares
$88,712 Sold Last Quarter
Proj. Earnings Growth: 390.20%
From $1.53 to $7.50 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.01 out of 5 stars

Computer And Technology Sector

101st out of 636 stocks

Computer Storage Devices Industry

3rd out of 5 stocks

4.1

Analyst's Opinion

Consensus Rating
Western Digital has received a consensus rating of Hold. The company's average rating score is 2.25, and is based on 8 buy ratings, 9 hold ratings, and 3 sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $55.32, Western Digital has a forecasted upside of 69.1% from its current price of $32.72.
Amount of Analyst Coverage
Western Digital has been the subject of 12 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

3.0

Short Interest

Percentage of Shares Shorted
2.62% of the outstanding shares of Western Digital have been sold short.
Short Interest Ratio / Days to Cover
Western Digital has a short interest ratio ("days to cover") of 2.3, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Western Digital has recently increased by 18.56%, indicating that investor sentiment is decreasing significantly.

0.0

Dividend Strength

Dividend Yield
Western Digital does not currently pay a dividend.
Dividend Growth
Western Digital does not have a long track record of dividend growth.

2.4

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Western Digital has received a 12.35% net impact score from Upright. Western Digital seems to create the most significant positive value in categories "Taxes", "Jobs", and "Creating knowledge". The positive contribution in the "Creating knowledge" impact category is mostly driven by its "Supercomputing services", "Supercomputers", and "Hosted machine learning services" products. See details.
Environmental Sustainability
The Environmental Impact score for Western Digital is -1.31.

2.3

News and Social Media Coverage

News Sentiment
Western Digital has a news sentiment score of 0.08. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.48 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 18 news articles for Western Digital this week, compared to 10 articles on an average week.
Social Mentions This Week
MarketBeat has tracked 4 reddit mentions for Western Digital this week, compared to 0 mentions on an average week.
Search Interest
Only 32 people have searched for WDC on MarketBeat in the last 30 days. This is a decrease of -11% compared to the previous 30 days.
MarketBeat Follows
17 people have added Western Digital to their MarketBeat watchlist in the last 30 days. This is an increase of 21% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Western Digital insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $88,712.00 in company stock.
Percentage Held by Insiders
Only 0.17% of the stock of Western Digital is held by insiders.
Percentage Held by Institutions
84.57% of the stock of Western Digital is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

3.8

Earnings and Valuation

Earnings Growth
Earnings for Western Digital are expected to grow by 390.20% in the coming year, from $1.53 to $7.50 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Western Digital is 6.89, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 114.69.
Price to Earnings Ratio vs. Sector
The P/E ratio of Western Digital is 6.89, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 314.85.
Price to Book Value per Share Ratio
Western Digital has a P/B Ratio of 0.84. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Western Digital (NASDAQ:WDC) Stock

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 computing devices, such as desktop and notebook personal computers (PCs), smart video systems, gaming consoles, and set top boxes; 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; and flash-based memory wafers. The company also provides enterprise helium hard drives; enterprise SSDs consisting of flash-based SSDs and software solutions for use in enterprise servers, on-line transactions, data analysis, and other enterprise applications; drives are used for data storage systems and tiered storage models; and data storage platforms. In addition, it offers client solutions, such as external HDD storage products in mobile and desktop form; client portable SSDs; removable cards that are used in consumer devices comprising mobile phones, tablets, imaging systems, and cameras and smart video systems; universal serial bus flash drives for use in the computing and consumer markets; and wireless drive products used in-field back up of created content, as well as wireless streaming of high-definition movies, photos, music, and documents to tablets, smartphones, and PCs. The company sells its products under the Western Digital, SanDisk, and WD brands to original equipment manufacturers, distributors, dealers, resellers, and retailers. Western Digital Corporation was founded in 1970 and is headquartered in San Jose, California.

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WDC Stock News Headlines

September 6, 2022 | marketbeat.com

When Will the Hangover Finally Be Over for Seagate Technology? (WDC)

Data storage solutions giant Seagate Technology (NYSE: STX) issued its second earnings guidance cut in five weeks as macroeconomic shifts struck fast and hard.

September 6, 2022 | marketbeat.com

Is There Value in Verizon Shares at These Levels? (WDC)

Telecommunications and broadband provider Verizon (NYSE: VZ) shares have not only fallen below its 2020 pandemic lows but also its seven year low

September 28, 2022 | finance.yahoo.com

10 Top Stocks to Buy in a Bear Market

September 28, 2022 | americanbankingnews.com

Western Digital (NASDAQ:WDC) Reaches New 12-Month Low Following Analyst Downgrade

September 27, 2022 | msn.com

upGrad appoints Srikanth Iyengar as CEO, WD for North America, Europe

September 26, 2022 | americanbankingnews.com

Western Digital (NASDAQ:WDC) Price Target Cut to $43.00

September 23, 2022 | msn.com

WD Black P40 Review: How does it compare to P50 and D30? - Technobubble Tech

September 21, 2022 | msn.com

Seagate and Western Digital predict a grim future for storage media sales

September 21, 2022 | msn.com

Mizuho Downgrades Western Digital: Here's What You Need To Know

September 21, 2022 | benzinga.com

This Is What Whales Are Betting On Western Digital

September 21, 2022 | msn.com

Have Western Digital storage disk? You can win 150 grams gold in a contest

September 21, 2022 | seekingalpha.com

Micron, Western Digital slump as Mizuho downgrades over price declines, weak data center

September 21, 2022 | finance.yahoo.com

Micron stock downgraded amid ‘steepening price declines’

September 21, 2022 | finance.yahoo.com

Micron and Western Digital Stocks Are Downgraded on Market Weakness

September 21, 2022 | investorplace.com

Why Is Micron (MU) Stock in the Spotlight Today?

September 21, 2022 | americanbankingnews.com

Western Digital (NASDAQ:WDC) Rating Lowered to Neutral at Mizuho

September 21, 2022 | americanbankingnews.com

Deutsche Bank Aktiengesellschaft Downgrades Western Digital (NASDAQ:WDC) to Hold

September 21, 2022 | americanbankingnews.com

Western Digital (NASDAQ:WDC) Stock Rating Lowered by Deutsche Bank Aktiengesellschaft

September 20, 2022 | cnbc.com

Deutsche Bank downgrades data storage company Western Digital, cites softening demand

September 20, 2022 | seekingalpha.com

Western Digital slips as Deutsche Bank downgrades on 'uncertain' recovery path

September 20, 2022 | finance.yahoo.com

Ford, Nike, Western Digital Fall Premarket; Boeing, Cognex Rise

September 20, 2022 | finance.yahoo.com

Western Digital’s ‘Recovery Path Uncertain’, Analyst Says. The Stock Gets a Downgrade.

September 20, 2022 | americanbankingnews.com

Western Digital (NASDAQ:WDC) PT Lowered to $35.00

September 19, 2022 | investing.com

Western Digital Estimates Cut Again, But Morgan Stanley Confident Long-Term

September 19, 2022 | markets.businessinsider.com

Barclays Maintains Equal-Weight Rating for Western Digital: Here's What You Need To Know

See More Headlines

30 days | 90 days | 365 days | Advanced Chart

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WDC Company Calendar

Last Earnings: 8/05/2022
Today: 9/28/2022
Next Earnings (Estimated): 10/27/2022
Fiscal Year End: 6/30/2023

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Computer storage devices
Sub-Industry: Computer Storage & Peripherals
Sector: Computer and Technology
Current Symbol: NASDAQ:WDC
CUSIP: 95810210
CIK: 106040
Web: www.westerndigital.com
Phone: (408) 717-6000
Fax: 949-672-5408
Employees: 65,000
Year Founded: 1970

Price Target and Rating

Average Stock Price Forecast: $55.32
High Stock Price Forecast: $85.00
Low Stock Price Forecast: $30.00
Forecasted Upside/Downside: +69.1%
Consensus Rating: Hold
Rating Score (0-4): 2.25
Research Coverage: 20 Analysts

Profitability

EPS (Most Recent Fiscal Year): $4.75
Trailing P/E Ratio: 6.89
Forward P/E Ratio: 21.39
P/E Growth: N/A
Net Income: $1.50 billion
Net Margins: 7.98%
Pretax Margin: 11.30%
Return on Equity: 19.15%
Return on Assets: 8.73%

Debt

Debt-to-Equity Ratio: 0.57
Current Ratio: 1.80
Quick Ratio: 1.11

Sales & Book Value

Annual Sales: $18.79 billion
Price / Sales: 0.55
Cash Flow: $10.45 per share
Price / Cash Flow: 3.13
Book Value: $39.02 per share
Price / Book: 0.84

Miscellaneous

Outstanding Shares: 314,490,000
Free Float: 313,958,000
Market Cap: $10.29 billion
Optionable: Optionable
Beta: 1.51

Social Links

Key Executives

Mr. David V. Goeckeler (Age 60)
CEO & Director
Comp: $4.61M

Dr. Sivaram Srinivasan Ph.D. (Age 61)
Pres of Technology & Strategy
Comp: $2.14M

Mr. Michael Charles Ray Ph.D. (Age 54)
Chief Legal Officer, Exec. VP & Sec.
Comp: $1.92M

Mr. Robert K. Eulau (Age 60)
Advisory
Comp: $1.79M

Mr. Robert W. Soderbery (Age 55)
Exec. VP & GM of New Flash Bus. Unit
Comp: $2.55M

Mr. Wissam Jabre
Exec. VP & Chief Financial Officer

Mr. Tiang Yew Tan (Age 52)
Exec. VP of Global Operations

Mr. C. Wesley M. Scott
Chief Investment Officer

Mr. Gene M. Zamiska (Age 60)
Sr. VP of Global Accounting & Chief Accounting Officer

Mr. T. Peter Andrew
VP of Investor Relations

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

WDC Stock - Frequently Asked Questions

Should I buy or sell Western Digital stock right now?: 20 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Western Digital in the last twelve months. There are currently 3 sell ratings, 9 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.
View WDC analyst ratings or view top-rated stocks.
What is Western Digital's stock price forecast for 2022?: 20 Wall Street analysts have issued twelve-month price targets for Western Digital's shares. Their WDC share price forecasts range from $30.00 to $85.00. On average, they predict the company's share price to reach $55.32 in the next year. This suggests a possible upside of 69.1% from the stock's current price.
View analysts price targets for WDC or view top-rated stocks among Wall Street analysts.
How have WDC shares performed in 2022?: Western Digital's stock was trading at $65.21 on January 1st, 2022. Since then, WDC stock has decreased by 49.8% and is now trading at $32.72.
View the best growth stocks for 2022 here.
When is Western Digital's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, October 27th 2022.
View our WDC earnings forecast.
How were Western Digital's earnings last quarter?: Western Digital Co. (NASDAQ:WDC) announced its quarterly earnings data on Friday, August, 5th. The data storage provider reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.02. The data storage provider earned $4.53 billion during the quarter, compared to analyst estimates of $4.57 billion. Western Digital had a net margin of 7.98% and a trailing twelve-month return on equity of 19.15%. The firm's quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.96 EPS.
Read the conference call transcript.
What guidance has Western Digital issued on next quarter's earnings?: Western Digital issued an update on its first quarter 2023 earnings guidance on Friday, September, 2nd. The company provided EPS guidance of $0.35-$0.65 for the period, compared to the consensus estimate of $1.96. The company issued revenue guidance of $3.60 billion-$3.80 billion, compared to the consensus revenue estimate of $4.74 billion.
What is David Goeckeler's approval rating as Western Digital's CEO?: 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.

What other stocks do shareholders of Western Digital own?: 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).
What is Western Digital's stock symbol?: Western Digital trades on the NASDAQ under the ticker symbol "WDC."
Who are Western Digital's major shareholders?: Western Digital's stock is owned by many different institutional and retail investors. Top institutional shareholders include Franklin Resources Inc. (3.35%), Clearbridge Investments LLC (1.95%), Parnassus Investments LLC (1.42%), Price T Rowe Associates Inc. MD (1.41%), DnB Asset Management AS (1.10%) and Northern Trust Corp (1.04%). Insiders that own company stock include Gene M Zamiska, Lori S Sundberg, Lori S Sundberg, Matthew E Massengill, Michael Charles Ray, Michael D Cordano, Michael D Cordano, Paula A Price, Srinivasan Sivaram and Stephen D Milligan.
View institutional ownership trends.
How do I buy shares of Western Digital?: 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.
Compare Top Brokerages Here.
What is Western Digital's stock price today?: One share of WDC stock can currently be purchased for approximately $32.72.
How much money does Western Digital make?: Western Digital (NASDAQ:WDC) has a market capitalization of $10.29 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 $4.75 on an earnings per share basis.
How many employees does Western Digital have?: The company employs 65,000 workers across the globe.
Does Western Digital have any subsidiaries?: The following companies are subsidiares of Western Digital: Amplidata N.V., Arkeia Software, Crag Technologies, EasyStore Memory Limited, Fusion-io (Beijing) Info Tech Co. Ltd, Fusion-io LLC, Fusion-io Poland SP.Z.O.O., Fusion-io Singapore Private Ltd, HGST, HGST (Shenzhen) Co. Ltd., HGST Consulting (Shanghai) Co. Ltd., HGST Europe Ltd., HGST Japan Ltd., HGST Malaysia Sdn. Bhd., HGST Netherlands B.V., HGST Singapore Pte. Ltd., HGST Technologies India Private Limited, HGST Technologies Malaysia Sdn. Bhd., HICAP Properties Corp., Kazan Networks, Keen Personal Media Inc., Kioxia, Komag, Pacifica Insurance Corporation, Prestadora SD S. de R.L. de C.V., Read-Rite Philippines Inc., SanDisk, SanDisk (Cayman) Limited, SanDisk (Ireland) Limited, SanDisk 3D IP Holdings Ltd, SanDisk B.V., SanDisk Brasil Participações Ltda., SanDisk C.V., SanDisk China LLC, SanDisk China Limited, SanDisk Flash B.V., SanDisk France SAS, SanDisk GmbH, SanDisk Holding B.V., SanDisk Hong Kong Limited, SanDisk India Device Design Centre Private Limited, SanDisk Information Technology (Shanghai) Co. Ltd., SanDisk International Holdco B.V., Sandbox Expansion LLC, SiliconSystems, Stec's, Tegile Systems, Upthere, VeloBit, and Virident Systems.
Read More
How can I contact Western Digital?: 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.

This page (NASDAQ:WDC) was last updated on 9/28/2022 by MarketBeat.com Staff

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Western Digital - WDC Stock Forecast, Price & News

Western Digital MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

Environmental Sustainability

News and Social Media Coverage

News Sentiment

News Coverage This Week

Social Mentions This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Western Digital (NASDAQ:WDC) Stock

WDC Stock News Headlines

WDC Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Social Links

Key Executives

Key Competitors

Insiders & Institutions

WDC Stock - Frequently Asked Questions

MarketBeat Resources

Premium Research Tools

Market Data and Calendars

Investing Education and Resources

Overall MarketRank^™