Wedbush Raises Western Digital (NASDAQ:WDC) Price Target to $325.00

Western Digital (NASDAQ:WDC) had its price objective boosted by equities researchers at Wedbush to $325.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the data storage provider’s stock. Wedbush’s price target would indicate a potential upside of 29.88% from the company’s current price.

Other research analysts have also issued research reports about the stock. Rosenblatt Securities increased their price target on shares of Western Digital from $165.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Cantor Fitzgerald upped their price objective on Western Digital to $325.00 and gave the company an “overweight” rating in a research note on Friday. Wells Fargo & Company raised their target price on Western Digital from $180.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Susquehanna boosted their price target on Western Digital from $135.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, January 16th. Finally, JPMorgan Chase & Co. increased their price objective on Western Digital from $94.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $244.95.

Western Digital Stock Down 10.1%

Shares of WDC stock opened at $250.23 on Friday. The stock has a market cap of $85.55 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 1.33 and a beta of 1.78. Western Digital has a one year low of $28.83 and a one year high of $285.42. The stock has a fifty day moving average price of $193.60 and a 200 day moving average price of $137.10. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.21 and a quick ratio of 0.94.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.20. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.93 billion. Western Digital had a net margin of 35.52% and a return on equity of 44.67%. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 EPS. Analysts predict that Western Digital will post 4.89 earnings per share for the current year.

Insider Activity at Western Digital

In other news, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $150.69, for a total transaction of $3,013,800.00. Following the transaction, the chief executive officer directly owned 645,467 shares in the company, valued at approximately $97,265,422.23. This represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimberly Alexy sold 1,768 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $154.00, for a total transaction of $272,272.00. Following the sale, the director directly owned 3,585 shares in the company, valued at $552,090. This trade represents a 33.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 26,816 shares of company stock valued at $4,116,148. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Western Digital

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Citizens Financial Group Inc. RI boosted its holdings in Western Digital by 46.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 5,321 shares of the data storage provider’s stock valued at $917,000 after acquiring an additional 1,683 shares during the last quarter. New York State Teachers Retirement System lifted its position in Western Digital by 13.5% during the 4th quarter. New York State Teachers Retirement System now owns 288,401 shares of the data storage provider’s stock valued at $49,683,000 after purchasing an additional 34,369 shares during the period. Precision Wealth Strategies LLC lifted its position in Western Digital by 12.0% during the 4th quarter. Precision Wealth Strategies LLC now owns 5,638 shares of the data storage provider’s stock valued at $971,000 after purchasing an additional 604 shares during the period. Bogart Wealth LLC boosted its stake in shares of Western Digital by 19.4% in the 4th quarter. Bogart Wealth LLC now owns 369 shares of the data storage provider’s stock valued at $64,000 after purchasing an additional 60 shares during the last quarter. Finally, Keybank National Association OH grew its position in shares of Western Digital by 4.3% during the 4th quarter. Keybank National Association OH now owns 4,735 shares of the data storage provider’s stock worth $816,000 after buying an additional 195 shares during the period. Institutional investors own 92.51% of the company’s stock.

Key Stories Impacting Western Digital

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

• Positive Sentiment: Q2 results beat and upbeat guidance — WDC reported $2.13 EPS vs. ~$1.93 consensus and revenue of $3.02B (+25% Y/Y); management guided Q3 well above Street estimates, citing strong demand from AI/data center customers. Western Digital Reports Fiscal Second Quarter 2026 Financial Results
• Positive Sentiment: Analysts turn more bullish — several firms upped ratings/targets (Wells Fargo $335, Wedbush $325, TD Cowen to $325, Morgan Stanley, Citi maintain/raise Buy calls), reflecting expectations for sustained AI-led capacity demand and margin upside. Analyst Coverage & Price Target Changes
• Positive Sentiment: Management and CEO comments highlight AI-driven storage growth — CEO Irving Tan emphasized that AI inference is generating more data and requiring more storage, supporting ongoing demand for high‑capacity HDDs and flash. Western Digital CEO: AI inference is generating more data and requiring storage hence demand growth
• Positive Sentiment: Company to outline AI storage roadmap at Feb. 3 Innovation Day — investors have an upcoming event to get product/roadmap detail, which could provide further visibility on TAM and upside. Dear Western Digital Stock Fans, Mark Your Calendars for February 3
• Neutral Sentiment: Small quarterly dividend declared — WDC announced a $0.125 per‑share dividend (ex‑dividend Mar 5), a token yield that is unlikely to materially move the stock but may be noted by income investors.
• Negative Sentiment: Shares gave back gains after the initial rally — despite the beat and strong guide, intraday profit‑taking and repositioning pushed the stock down on elevated volume, suggesting some investors are booking gains after a rapid run. Western Digital Shares Give Up Gains After Earnings Beat, Strong Guidance
• Negative Sentiment: Technical/positioning risks — some analysts and market pieces noted WDC was overbought ahead of results; after a big run to an all‑time high, elevated expectations increase the risk of short‑term pullbacks. Overbought Ahead of 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.