Western Digital (NASDAQ:WDC) Price Target Raised to $400.00 at JPMorgan Chase & Co.

Western Digital (NASDAQ:WDC) had its price objective increased by JPMorgan Chase & Co. to $400.00 in a research report sent to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the data storage provider’s stock.

A number of other equities analysts also recently commented on the stock. Mizuho raised their target price on shares of Western Digital to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Evercore reaffirmed an “outperform” rating and set a $378.00 price target on shares of Western Digital in a report on Wednesday, April 8th. Barclays raised their price target on shares of Western Digital from $240.00 to $325.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Argus set a $300.00 price target on shares of Western Digital in a report on Tuesday, February 3rd. Finally, Truist Financial set a $310.00 price target on shares of Western Digital in a report on Tuesday, February 3rd. Twenty-one equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Western Digital currently has a consensus rating of “Moderate Buy” and an average price target of $297.71.

Western Digital Stock Performance

Shares of WDC stock opened at $361.69 on Thursday. The company’s fifty day simple moving average is $291.37 and its 200-day simple moving average is $214.20. Western Digital has a 52 week low of $35.51 and a 52 week high of $368.40. The company has a current ratio of 1.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The company has a market cap of $122.63 billion, a PE ratio of 36.28, a P/E/G ratio of 0.84 and a beta of 1.77.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, January 29th. The data storage provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.20. Western Digital had a net margin of 35.52% and a return on equity of 41.53%. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the firm posted $1.77 EPS. The business’s revenue for the quarter was up 25.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Western Digital will post 4.89 EPS for the current year.

Western Digital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Thursday, March 5th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, March 5th. Western Digital’s dividend payout ratio (DPR) is presently 5.02%.

Insider Activity at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 9,324 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $268.27, for a total transaction of $2,501,349.48. Following the transaction, the insider directly owned 121,682 shares in the company, valued at $32,643,630.14. This represents a 7.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew E. Massengill sold 36,926 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $260.43, for a total transaction of $9,616,638.18. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 92,795 shares of company stock valued at $24,265,884. 0.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Western Digital by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 43,282,393 shares of the data storage provider’s stock valued at $5,196,484,000 after acquiring an additional 243,177 shares during the last quarter. WCM Investment Management LLC bought a new position in Western Digital during the 3rd quarter valued at $791,317,000. Norges Bank bought a new position in Western Digital during the 4th quarter valued at $788,729,000. Northern Trust Corp boosted its stake in Western Digital by 11.2% during the 3rd quarter. Northern Trust Corp now owns 3,805,463 shares of the data storage provider’s stock valued at $456,884,000 after acquiring an additional 384,103 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Western Digital by 11.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,804,907 shares of the data storage provider’s stock valued at $456,737,000 after acquiring an additional 402,981 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.

Key Western Digital News

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

• Positive Sentiment: Company announced multi‑year AI storage purchase commitments, a 25% dividend increase, sizable buybacks and faster qualification of next‑gen drives — all supporting revenue visibility and capital-return appeal. Western Digital (WDC) Is Up 7.7% After Securing Multi‑Year AI Storage Commitments And Boosting Payouts
• Positive Sentiment: Analysts are raising targets and upgrading WDC — JPMorgan raised its price target to $400 with an Overweight stance, implying additional upside. Benzinga
• Positive Sentiment: Citigroup lifted its price target to $405, and Bernstein upgraded to Outperform with a materially higher target — analyst momentum is reinforcing institutional buying. Citigroup Raises Western Digital Price Target
• Positive Sentiment: WDC has a strong history of quarterly earnings beats and analysts at Zacks/other outlets see a good chance of another beat, supporting near‑term sentiment around EPS upside. Will Western Digital (WDC) Beat Estimates Again?
• Neutral Sentiment: Retail SSD pricing: WD Blue SN5100 NVMe SSD received a notable price cut — could boost consumer adoption but may pressure ASPs/margins in the near term; overall impact depends on mix and enterprise demand. WD Blue SN5100 NVMe SSD drops to $324.61
• Neutral Sentiment: Coverage pieces (Zacks, Yahoo) highlighting WDC as a highly watched stock — increases retail interest but doesn’t by itself change fundamentals. Zacks: Will Western Digital Beat Estimates?
• Negative Sentiment: Insider selling activity has been reported even as the stock hit record highs; while institutional buying and fundamentals look strong, insider sales can create investor concern about timing and valuation. Western Digital Stock Surges to Record Peak Despite Insider Sales Activity

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.