Western Digital (NASDAQ:WDC) Given New $141.00 Price Target at Bank of America

Western Digital (NASDAQ:WDC) had its price objective hoisted by Bank of America from $123.00 to $141.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the data storage provider’s stock.

Other research analysts also recently issued reports about the company. Mizuho upped their price target on Western Digital from $87.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Susquehanna upped their price target on Western Digital from $40.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Rosenblatt Securities upped their price target on Western Digital from $53.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Wedbush upped their price target on Western Digital from $78.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, Citigroup upped their price target on Western Digital from $88.00 to $110.00 and gave the company a “buy” rating in a report on Monday, September 8th. Seventeen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Western Digital presently has an average rating of “Moderate Buy” and an average target price of $89.63.

Western Digital Trading Down 0.5%

Western Digital stock opened at $109.69 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $82.76 and its two-hundred day simple moving average is $60.54. Western Digital has a 12 month low of $28.83 and a 12 month high of $113.75. The company has a market capitalization of $38.27 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 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 the consensus estimate of $2.45 billion. During the same period in the previous year, the company posted $1.44 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. As a group, equities analysts predict that Western Digital will post 4.89 earnings per share for the current fiscal year.

Western Digital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. Western Digital’s dividend payout ratio is currently 7.77%.

Insider Transactions at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 14,067 shares of the company’s 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 completion of the sale, the insider owned 135,351 shares in the company, valued at $10,121,547.78. This represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Gene M. Zamiska sold 3,160 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $75.68, for a total value of $239,148.80. Following the completion of the sale, the senior vice president owned 31,560 shares of the company’s stock, valued at approximately $2,388,460.80. The trade was a 9.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,730 shares of company stock worth $3,921,594 in the last ninety days. Insiders own 0.30% of the company’s stock.

Institutional Trading of Western Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of WDC. CVA Family Office LLC raised its stake in shares of Western Digital by 23.7% in the second quarter. CVA Family Office LLC now owns 904 shares of the data storage provider’s stock valued at $58,000 after acquiring an additional 173 shares in the last quarter. Manchester Capital Management LLC raised its stake 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 in the last quarter. Forum Financial Management LP raised its stake in shares of Western Digital by 3.4% in the second quarter. Forum Financial Management LP now owns 5,895 shares of the data storage provider’s stock valued at $377,000 after acquiring an additional 193 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Western Digital by 6.2% in the second quarter. UMB Bank n.a. now owns 3,465 shares of the data storage provider’s stock valued at $222,000 after acquiring an additional 202 shares in the last quarter. Finally, Private Wealth Management Group LLC raised its stake 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 in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Company Profile

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.