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NASDAQ:WDC

Western Digital - WDC Stock Forecast, Price & News

$48.90
+0.70 (+1.45%)
(As of 08/18/2022 02:41 PM ET)
Add
Compare
Today's Range
$48.03
$49.23
50-Day Range
$43.42
$56.58
52-Week Range
$41.63
$69.99
Volume
50,985 shs
Average Volume
3.18 million shs
Market Capitalization
$15.31 billion
P/E Ratio
10.29
Dividend Yield
N/A
Price Target
$62.90

Western Digital MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.56 Rating Score
Upside/​Downside
28.2% Upside
$62.90 Price Target
Short Interest
Healthy
2.14% of Shares Sold Short
Dividend Strength
N/A
Sustainability
-1.31
Upright™ Environmental Score
News Sentiment
0.10mentions of Western Digital in the last 14 days
Based on 21 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
122.14%
From $2.62 to $5.82 Per Share

Overall MarketRank

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

3.10 out of 5 stars

Computer And Technology Sector

24th out of 667 stocks

Computer Storage Devices Industry

1st out of 5 stocks

WDC stock logo

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 data center devices and solutions comprising enterprise helium hard drives; enterprise SSDs consisting of flash-based SSDs and software solutions for use in enterprise servers, online transactions, data analysis, and other enterprise applications; data center solutions 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 G-Technology, 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.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WDC. Robert W. Baird decreased their price objective on Western Digital from $75.00 to $55.00 in a report on Monday, August 8th. Evercore ISI upped their price objective on shares of Western Digital from $60.00 to $80.00 and gave the company an "outperform" rating in a research note on Thursday, June 2nd. Benchmark cut shares of Western Digital to a "hold" rating in a research note on Monday. Craig Hallum dropped their price objective on shares of Western Digital to $85.00 in a research note on Monday. Finally, Stifel Nicolaus dropped their price objective on shares of Western Digital from $85.00 to $77.00 in a research note on Thursday, August 4th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Western Digital currently has a consensus rating of "Moderate Buy" and an average target price of $62.90.

Western Digital Stock Down 2.1 %

Western Digital stock traded down $1.04 during mid-day trading on Wednesday, reaching $48.20. 2,371,694 shares of the company's stock were exchanged, compared to its average volume of 3,939,555. The company has a market cap of $15.09 billion, a P/E ratio of 10.15 and a beta of 1.49. Western Digital has a twelve month low of $41.63 and a twelve month high of $69.99. The company has a quick ratio of 1.28, a current ratio of 2.07 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $47.58 and a 200-day moving average of $51.07.

Western Digital (NASDAQ:WDC - Get Rating) last released its earnings results on Friday, August 5th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.27. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.57 billion. Western Digital had a net margin of 7.98% and a return on equity of 19.15%. The firm's quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.96 EPS. Sell-side analysts expect that Western Digital will post 2.62 EPS for the current year.

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WDC Stock News Headlines

Western Digital (NASDAQ:WDC) Downgraded by Benchmark
Western Digital (NASDAQ:WDC) PT Lowered to $85.00
Western Digital (NASDAQ:WDC) Cut to Hold at Benchmark
Western Digital (NASDAQ:WDC) Price Target Cut to $60.00
Western Digital (NASDAQ:WDC) Price Target Cut to $56.00
Western Digital: Trading At 60% Discount To Peers
See More Headlines
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WDC Company Calendar

Last Earnings
8/05/2022
Today
8/18/2022
Next Earnings (Estimated)
10/27/2022
Fiscal Year End
6/30/2023

Industry, Sector and Symbol

Industry
Computer storage devices
Sub-Industry
Computer Storage & Peripherals
Current Symbol
NASDAQ:WDC
CUSIP
95810210
Employees
65,600
Year Founded
1970

Price Target and Rating

Average Stock Price Forecast
$62.90
High Stock Price Forecast
$85.00
Low Stock Price Forecast
$45.00
Forecasted Upside/Downside
+28.6%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.56
Research Coverage
18 Analysts

Profitability

Net Income
$1.50 billion
Pretax Margin
11.30%

Debt

Sales & Book Value

Annual Sales
$18.79 billion
Cash Flow
$10.29 per share
Book Value
$39.02 per share

Miscellaneous

Free Float
312,636,000
Market Cap
$15.31 billion
Optionable
Optionable
Beta
1.49

Social Links


Key Executives














WDC Stock - Frequently Asked Questions

Should I buy or sell Western Digital stock right now?

18 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Western Digital in the last year. There are currently 8 hold ratings and 10 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" WDC shares.
View WDC analyst ratings
or view top-rated stocks.

What is Western Digital's stock price forecast for 2022?

18 analysts have issued 12-month price targets for Western Digital's shares. Their WDC share price forecasts range from $45.00 to $85.00. On average, they predict the company's stock price to reach $62.90 in the next year. This suggests a possible upside of 30.5% 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 26.1% and is now trading at $48.20.
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) issued its earnings results on Friday, August, 5th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.27. The data storage provider had revenue of $4.53 billion for the quarter, compared to analysts' expectations 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 prior year, the business posted $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, August, 12th. The company provided EPS guidance of $0.35-$0.65 for the period, compared to the consensus earnings per share 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 investors 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 $48.20.

How much money does Western Digital make?

Western Digital (NASDAQ:WDC) has a market capitalization of $15.09 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 65,600 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
When was Western Digital founded?

Western Digital was founded in 1970.

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 8/18/2022 by MarketBeat.com Staff

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