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

Western Digital (NASDAQ:WDC) had its price target hoisted by research analysts at TD Cowen from $200.00 to $325.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the data storage provider’s stock. TD Cowen’s price objective would indicate a potential upside of 29.88% from the company’s previous close.

A number of other research firms have also recently weighed in on WDC. UBS Group boosted their price target on Western Digital from $145.00 to $230.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Citigroup upped their price target on Western Digital from $200.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 target price on shares of Western Digital in a research note on Tuesday, December 16th. Bank of America lifted their target price on Western Digital from $197.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Western Digital in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $244.95.

Western Digital Price Performance

WDC stock opened at $250.23 on Friday. The firm has a 50 day moving average of $193.60 and a 200-day moving average of $137.10. The company has a market cap of $85.55 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 1.33 and a beta of 1.78. Western Digital has a 12-month low of $28.83 and a 12-month high of $285.42. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.42.

Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.20. Western Digital had a return on equity of 44.67% and a net margin of 35.52%.The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the company earned $1.77 earnings per share. Western Digital’s revenue was up 25.2% compared to the same quarter last year. As a group, equities analysts expect that Western Digital will post 4.89 EPS for the current fiscal year.

Insider Activity at Western Digital

In related news, Director Roxanne Oulman sold 1,800 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $154.42, for a total transaction of $277,956.00. Following the sale, the director directly owned 3,863 shares in the company, valued at $596,524.46. This trade represents a 31.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kimberly Alexy sold 1,768 shares of the business’s stock in a transaction 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 completion of the sale, the director directly owned 3,585 shares in the company, valued at $552,090. This represents a 33.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 26,816 shares of company stock worth $4,116,148 over the last three months. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Western Digital

Hedge funds have recently modified their holdings of the stock. ORG Partners LLC grew its stake in Western Digital by 124.5% in the third quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 117 shares in the last quarter. Private Wealth Management Group LLC boosted its holdings in shares of Western Digital by 102.5% in the 2nd quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock valued at $26,000 after buying an additional 202 shares during the last quarter. Rakuten Securities Inc. grew its stake 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 buying an additional 407 shares in the last quarter. NewSquare Capital LLC increased its holdings in Western Digital by 86.9% during the second quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider’s stock worth $28,000 after buying an additional 205 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its position in Western Digital by 551.4% during the third quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 204 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

More Western Digital News

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

Western Digital Company Profile

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.