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

Western Digital (NASDAQ:WDC) had its target price raised by analysts at Mizuho to $340.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm presently has an “outperform” rating on the data storage provider’s stock. Mizuho’s target price would indicate a potential upside of 30.67% from the company’s previous close.

Several other analysts also recently weighed in on WDC. Truist Financial set a $310.00 price objective on shares of Western Digital in a research report on Tuesday. Zacks Research upgraded shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. China Renaissance initiated coverage on Western Digital in a research report on Friday, December 5th. They set a “buy” rating and a $193.00 price objective for the company. UBS Group set a $306.00 price objective on Western Digital in a report on Friday, January 30th. Finally, Wall Street Zen upgraded Western Digital from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. One investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $262.25.

Western Digital Trading Down 3.4%

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

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share for the quarter, topping 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 firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the company earned $1.77 earnings per share. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. Equities research analysts predict that Western Digital will post 4.89 EPS for the current year.

Insider Transactions at Western Digital

In related news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $255.44, for a total transaction of $5,108,800.00. Following the transaction, the chief executive officer directly owned 623,586 shares of the company’s stock, valued at $159,288,807.84. The trade was a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimberly Alexy sold 1,768 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $154.00, for a total transaction of $272,272.00. Following the completion of the sale, the director owned 3,585 shares in the company, valued at approximately $552,090. This trade represents a 33.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,816 shares of company stock valued at $6,211,148 in the last quarter. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Western Digital

Several hedge funds have recently made changes to their positions in WDC. ORG Partners LLC boosted its holdings in Western Digital by 124.5% during the third quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock worth $25,000 after buying an additional 117 shares in the last quarter. Private Wealth Management Group LLC lifted its position in shares of Western Digital by 102.5% during the 2nd 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. boosted its stake in shares of Western Digital by 4,070.0% during the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 407 shares in the last quarter. NewSquare Capital LLC grew its holdings in shares of Western Digital by 86.9% in the 2nd quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 205 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Western Digital by 551.4% in the 3rd 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 during the last quarter. 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.