Brokerages Set Western Digital Corporation (NASDAQ:WDC) PT at $520.32

Shares of Western Digital Corporation (NASDAQ:WDC) have been given an average rating of “Moderate Buy” by the twenty-four analysts that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $520.32.

WDC has been the subject of a number of recent analyst reports. Bank of America raised their target price on Western Digital from $610.00 to $732.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. JPMorgan Chase & Co. raised their price objective on shares of Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. UBS Group reissued a “neutral” rating and set a $560.00 price objective on shares of Western Digital in a report on Monday, July 13th. Citigroup upped their target price on shares of Western Digital from $685.00 to $800.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Finally, Jefferies Financial Group set a $575.00 target price on shares of Western Digital in a report on Tuesday, May 26th.

More Western Digital News

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: A significant “Power Inflow” alert, indicating strong institutional and retail buying pressure, helped trigger a sharp intraday rebound in Western Digital shares. Traders viewed the order-flow signal as bullish. Western Digital Shares Rise 4% After Key Trading Signal
• Positive Sentiment: Western Digital was included among AI-infrastructure stocks that could benefit from more than $750 billion in planned 2026 Big Tech spending. Rising demand for data-center storage and memory supports the company’s growth outlook. Buy 5 AI Infrastructure Stocks as Big Tech’s AI Spending Continues
• Positive Sentiment: The broader memory and storage sector rebounded strongly after a sharp selloff, lifting Western Digital alongside SanDisk, Micron, Seagate and SK Hynix. Analysts cited improving industry fundamentals, strong AI demand and limited near-term risk of semiconductor oversupply as reasons for optimism. Memory Stocks Blast Off
• Neutral Sentiment: Brokerages currently assign Western Digital an average “Moderate Buy” recommendation, while investor attention has increased. The heightened interest may support trading momentum but also reflects the stock’s high volatility. Western Digital Given Average Recommendation of Moderate Buy
• Negative Sentiment: Recent insider selling contributed to a prior decline and remains a sentiment overhang, particularly after Western Digital’s substantial rally. Western Digital Trading Down Following Insider Selling
• Negative Sentiment: Valuation is a key risk. Western Digital has been one of the strongest performers in the AI memory and storage trade, but its elevated valuation leaves less room for disappointment when the company reports earnings. Western Digital’s Earnings Will Test Whether Its AI Rally Has More Room

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $544.84 on Friday. Western Digital has a fifty-two week low of $73.14 and a fifty-two week high of $799.87. The firm’s 50-day simple moving average is $568.03 and its 200-day simple moving average is $408.97. The company has a market cap of $187.80 billion, a price-to-earnings ratio of 32.53 and a beta of 2.14.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company’s revenue for the quarter was up 45.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.36 earnings per share. On average, research analysts forecast that Western Digital will post 9.61 EPS for the current year.

Insiders Place Their Bets

In related news, insider Vidyadhara K. Gubbi sold 2,475 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $556.24, for a total value of $1,376,694.00. Following the sale, the insider directly owned 85,154 shares in the company, valued at $47,366,060.96. The trade was a 2.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce E. Kiddoo sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the transaction, the director directly owned 3,903 shares of the company’s stock, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 5,093 shares of company stock worth $2,751,337. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Western Digital

A number of institutional investors have recently modified their holdings of the company. Ares Financial Consulting LLC lifted its stake in shares of Western Digital by 45.5% during the 2nd quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock worth $51,000 after purchasing an additional 25 shares during the period. Dogwood Wealth Management LLC boosted its holdings in Western Digital by 28.6% in the 2nd quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock worth $57,000 after acquiring an additional 20 shares during the period. Valley Wealth Managers Inc. purchased a new position in shares of Western Digital in the first quarter valued at $32,000. IMG Wealth Management Inc. grew its holdings in Western Digital by 853.8% during the 1st quarter. IMG Wealth Management Inc. now owns 124 shares of the data storage provider’s stock valued at $34,000 after purchasing an additional 111 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Western Digital during the 1st quarter worth $35,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

About Western Digital

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.