Western Digital (NASDAQ:WDC) Given New $800.00 Price Target at Rosenblatt Securities

Western Digital (NASDAQ:WDC) had its price objective reduced by investment analysts at Rosenblatt Securities from $900.00 to $800.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the data storage provider’s stock. Rosenblatt Securities’ price objective points to a potential upside of 54.09% from the company’s current price.

Other analysts have also recently issued reports about the company. Jefferies Financial Group set a $575.00 price objective on Western Digital in a research report on Tuesday, May 26th. UBS Group reissued a “neutral” rating and issued a $560.00 price target on shares of Western Digital in a research note on Monday, July 13th. Robert W. Baird increased their price objective on shares of Western Digital from $310.00 to $450.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Wall Street Zen upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Evercore reiterated an “outperform” rating and issued a $575.00 price objective on shares of Western Digital in a report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $532.32.

Western Digital Stock Performance

WDC opened at $519.17 on Thursday. Western Digital has a fifty-two week low of $73.14 and a fifty-two week high of $799.87. The company has a fifty day moving average of $569.14 and a two-hundred day moving average of $415.61. The stock has a market capitalization of $178.95 billion, a price-to-earnings ratio of 31.00 and a beta of 2.14.

Western Digital (NASDAQ:WDC) last posted its earnings results on Tuesday, August 4th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.25. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the company posted $1.66 EPS. The company’s revenue for the quarter was up 43.8% on a year-over-year basis. On average, equities research analysts forecast that Western Digital will post 9.61 earnings per share for the current year.

Insiders Place Their Bets

In other Western Digital news, Director Bruce E. Kiddoo sold 750 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the sale, the director directly owned 3,903 shares in the company, valued at $2,062,813.56. This represents a 16.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cynthia L. Tregillis sold 808 shares of the business’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $529.63, for a total transaction of $427,941.04. Following the transaction, the insider directly owned 114,539 shares in the company, valued at approximately $60,663,290.57. The trade was a 0.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 5,093 shares of company stock valued at $2,751,337. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Western Digital

Large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Western Digital by 7.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after buying an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Western Digital by 229.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after purchasing an additional 967 shares during the period. Sivia Capital Partners LLC acquired a new position in Western Digital during the second quarter worth $307,000. Cresset Asset Management LLC purchased a new position in shares of Western Digital during the second quarter worth $292,000. Finally, Federated Hermes Inc. boosted its position in shares of Western Digital by 55.3% during the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock worth $152,000 after buying an additional 845 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Key Western Digital News

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

• Positive Sentiment: Western Digital reported adjusted fourth-quarter EPS of $3.56, above the $3.31 consensus estimate, while revenue increased 43.8% year over year to $3.75 billion, also exceeding expectations. Profit more than11-fold from the prior-year quarter. Western Digital Q4 Earnings and Revenues Top Estimates
• Positive Sentiment: Management said AI customers are negotiating storage capacity agreements extending through 2031, suggesting strong long-term visibility for hard-drive demand tied to data-center expansion. Western Digital Says AI Customers Are Negotiating Storage Deals Through 2031
• Positive Sentiment: Robert W. Baird maintained a Buy rating and raised its price target to $630 from $450, citing AI-supported HDD strength and improving profitability. Western Digital Earns Buy Rating as Analyst Lifts Price Target
• Neutral Sentiment: Western Digital declared a quarterly dividend of $0.15 per share, payable September 17 to shareholders of record September 8. The approximately 0.1% yield is unlikely to be a major share-price catalyst.
• Negative Sentiment: First-quarter fiscal 2027 guidance calls for EPS of $3.85–$4.15 and revenue of $4.0–$4.2 billion, both above published consensus estimates. However, investors viewed the outlook as disappointing relative to elevated expectations for AI-related growth, triggering declines across storage stocks including SanDisk and Western Digital. Sandisk and Western Digital Drag on Chip Stocks as Lofty Expectations Eclipse Strong Earnings

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.