Western Digital (NASDAQ:WDC) Stock Price Expected to Rise, Mizuho Analyst Says

Western Digital (NASDAQ:WDC) had its target price raised by investment analysts at Mizuho from $87.00 to $120.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the data storage provider’s stock. Mizuho’s price objective indicates a potential upside of 12.54% from the stock’s previous close.

WDC has been the topic of several other reports. Morgan Stanley raised their price target on Western Digital from $92.00 to $99.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. UBS Group raised their price target on Western Digital from $45.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Wedbush lifted their target price on Western Digital from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Bank of America lifted their target price on Western Digital from $100.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Finally, Wells Fargo & Company lifted their target price on Western Digital from $80.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and a consensus target price of $88.68.

Western Digital Stock Up 1.4%

Shares of WDC opened at $106.63 on Friday. The firm has a market capitalization of $37.20 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 1.20 and a beta of 1.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.08. The business’s fifty day moving average price is $80.13 and its two-hundred day moving average price is $59.23. Western Digital has a 52 week low of $28.83 and a 52 week high of $107.18.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.18. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period last year, the company earned $1.44 EPS. The firm’s revenue was up 30.0% on a year-over-year basis. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. On average, analysts predict that Western Digital will post 4.89 earnings per share for the current year.

Insider Transactions at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 14,067 shares of Western Digital stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $74.78, for a total value of $1,051,930.26. Following the sale, the insider owned 135,351 shares of the company’s stock, valued at $10,121,547.78. This trade represents a 9.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Vidyadhara K. Gubbi sold 11,343 shares of Western Digital stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $90.29, for a total value of $1,024,159.47. Following the completion of the sale, the insider directly owned 151,596 shares in the company, valued at $13,687,602.84. This represents a 6.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,730 shares of company stock worth $3,921,594. Company insiders own 0.30% of the company’s stock.

Institutional Trading of Western Digital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Private Wealth Management Group LLC increased its position in shares of Western Digital by 102.5% in the second quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock valued at $26,000 after acquiring an additional 202 shares during the last quarter. Rakuten Securities Inc. increased its position in shares of Western Digital by 4,070.0% in the second quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 407 shares during the last quarter. NewSquare Capital LLC increased its position in shares of Western Digital by 86.9% in the second quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 205 shares during the last quarter. CNB Bank acquired a new stake in shares of Western Digital in the second quarter valued at about $37,000. Finally, Manchester Capital Management LLC increased its position in shares of Western Digital by 47.2% in the second quarter. Manchester Capital Management LLC now owns 577 shares of the data storage provider’s stock valued at $37,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

About Western Digital

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 desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and 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.