Rosenblatt Securities Reaffirms “Buy” Rating for Western Digital (NASDAQ:WDC)

Western Digital (NASDAQ:WDC)‘s stock had its “buy” rating reaffirmed by stock analysts at Rosenblatt Securities in a report released on Wednesday,Benzinga reports. They currently have a $340.00 price target on the data storage provider’s stock. Rosenblatt Securities’ price target suggests a potential upside of 30.67% from the company’s previous close.

A number of other brokerages have also recently weighed in on WDC. Loop Capital upped their price target on Western Digital to $250.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Truist Financial set a $310.00 target price on shares of Western Digital in a report on Tuesday. UBS Group set a $306.00 target price on shares of Western Digital in a research report on Friday, January 30th. Weiss Ratings raised shares of Western Digital from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Finally, Citigroup upped their price objective on shares of Western Digital to $325.00 and gave the stock a “buy” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $262.25.

Western Digital Stock Performance

NASDAQ:WDC opened at $260.19 on Wednesday. The firm has a market capitalization of $88.21 billion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 0.70 and a beta of 1.80. The company has a quick ratio of 1.19, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. Western Digital has a 12-month low of $28.83 and a 12-month high of $296.50. The firm has a 50-day moving average price of $202.97 and a 200 day moving average price of $142.32.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data 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 41.53% 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 period in the prior year, the company posted $1.77 EPS. The company’s revenue was up 25.2% compared to the same quarter last year. Research analysts anticipate that Western Digital will post 4.89 earnings per share for the current fiscal year.

Insider Activity at Western Digital

In other Western Digital news, Director Roxanne Oulman sold 1,800 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $154.42, for a total transaction of $277,956.00. Following the transaction, the director owned 3,863 shares of the company’s stock, valued at approximately $596,524.46. This represents a 31.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Irving Tan sold 20,000 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $255.44, for a total value of $5,108,800.00. Following the completion of the transaction, the chief executive officer owned 623,586 shares in the company, valued at $159,288,807.84. The trade was a 3.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,816 shares of company stock valued at $6,211,148 over the last ninety days. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Western Digital

Several large investors have recently made changes to their positions in the company. WCM Investment Management LLC acquired a new stake in Western Digital in the third quarter worth about $791,317,000. Norges Bank acquired a new position in Western Digital during the 2nd quarter valued at about $220,680,000. Fred Alger Management LLC boosted its stake in shares of Western Digital by 4,923.9% in the 3rd quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider’s stock valued at $409,049,000 after purchasing an additional 3,339,225 shares during the last quarter. Soroban Capital Partners LP grew its position in shares of Western Digital by 1,926.3% during the 2nd quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider’s stock worth $195,882,000 after buying an additional 2,910,062 shares during the period. Finally, Polar Capital Holdings Plc bought a new stake in shares of Western Digital during the third quarter worth approximately $221,800,000. 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: Board approved an additional $4 billion share repurchase program, which supports share price by reducing float and signals management confidence. Read More.
• Positive Sentiment: Company held Innovation Day and unveiled an AI-focused HDD/roadmap (path to 100TB+ drives and High Bandwidth Drive tech) that reinforces WDC’s role in AI data infrastructure and bolsters the long-term demand thesis. Read More.
• Positive Sentiment: Recent results and guidance showed revenue and margin strength, supporting the “memory supercycle” thesis (durable demand for high‑capacity drives), which underpins bullish analyst revisions. Read More.
• Positive Sentiment: Several firms raised price targets and reiterated buys (examples: Mizuho, Rosenblatt), lifting sentiment and feeding momentum into the stock ahead of today’s pullback. Read More.
• Neutral Sentiment: SanDisk (spun off from WDC) is rallying sharply and remains very volatile; the sector rotation into memory benefits WDC but also concentrates exposure to cyclical swings. Read More.
• Neutral Sentiment: Macro/policy moves (U.S. push to secure critical minerals) could support domestic supply chains longer term but are not an immediate stock catalyst. Read More.
• Negative Sentiment: CEO Irving Tan sold 20,000 shares (~$5.1M), a disclosed insider sale that may have prompted short-term profit‑taking or signaled a window for selling after the recent run. Read More.

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.