Bank of America Increases Western Digital (NASDAQ:WDC) Price Target to $415.00

Western Digital (NASDAQ:WDC) had its target price boosted by Bank of America from $375.00 to $415.00 in a report released on Friday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the data storage provider’s stock. Bank of America‘s price objective would indicate a potential upside of 11.40% from the stock’s previous close.

Several other brokerages also recently commented on WDC. Cantor Fitzgerald lifted their target price on shares of Western Digital to $325.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Argus set a $300.00 target price on shares of Western Digital in a report on Tuesday, February 3rd. UBS Group set a $306.00 target price on shares of Western Digital in a report on Friday, January 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $340.00 target price on shares of Western Digital in a report on Wednesday, February 4th. Finally, Morgan Stanley lifted their price objective on shares of Western Digital to $380.00 and gave the stock an “overweight” rating in a research note on Monday, April 6th. Twenty-one investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $304.29.

Western Digital Stock Performance

Shares of WDC stock opened at $372.52 on Friday. The company has a market capitalization of $126.30 billion, a price-to-earnings ratio of 37.36, a PEG ratio of 0.84 and a beta of 1.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.46. The company has a 50-day simple moving average of $293.17 and a 200 day simple moving average of $216.65. Western Digital has a 52 week low of $35.51 and a 52 week high of $378.98.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, January 29th. The data storage provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.93 by $0.20. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.93 billion. Western Digital had a net margin of 35.52% and a return on equity of 41.53%. Western Digital’s revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.77 EPS. On average, sell-side analysts predict that Western Digital will post 4.89 earnings per share for the current year.

Insider Buying and Selling at Western Digital

In other Western Digital news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vidyadhara K. Gubbi sold 8,518 shares of Western Digital stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $255.32, for a total transaction of $2,174,815.76. Following the completion of the sale, the insider owned 99,276 shares of the company’s stock, valued at $25,347,148.32. This trade represents a 7.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 92,795 shares of company stock worth $24,265,884 over the last quarter. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Western Digital

Several hedge funds and other institutional investors have recently made changes to their positions in WDC. ORG Partners LLC raised its position in shares of Western Digital by 124.5% in the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock valued at $25,000 after buying an additional 117 shares in the last quarter. Rakuten Securities Inc. raised its position in shares of Western Digital by 4,070.0% in the 2nd 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. Cullen Frost Bankers Inc. raised its position 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 valued at $29,000 after buying an additional 204 shares in the last quarter. Westfuller Advisors LLC acquired a new position in shares of Western Digital in the 3rd quarter valued at approximately $30,000. Finally, Avion Wealth raised its position in shares of Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock valued at $31,000 after buying an additional 113 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

More Western Digital News

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

• Positive Sentiment: Bank of America raised its WDC price target to $415 and assigned a “buy” rating, signaling increased analyst conviction and implying further upside from current levels.
• Positive Sentiment: JPMorgan raised its price target to $400 and moved to “overweight,” another institutional upgrade supporting the rally and likely attracting more buyer interest. Benzinga
• Positive Sentiment: Solid fundamentals and earnings momentum — WDC has a recent track record of beats and raised guidance drivers (high-capacity/HAMR drives, manufacturing productivity). Analysts and outlets highlight the company as positioned to beat again, which supports valuation multiple expansion. Will Western Digital (WDC) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: WDC reported multi‑year AI storage commitments from large customers, boosted its dividend by 25% and announced meaningful buybacks — all shareholder‑friendly actions that underpin investor confidence in continued demand from AI workloads. Western Digital (WDC) Is Up 7.7% After Securing Multi‑Year AI Storage Commitments And Boosting Payouts
• Positive Sentiment: Broader market strength (Dow, S&P 500, Nasdaq gains and new highs) is lifting cyclical and growth names, providing tailwinds for WDC’s share price. Dow jumps 800 points, S&P 500 at new record, Nasdaq gains 6.8% this week
• Neutral Sentiment: Coverage notes WDC hitting record highs and strong institutional buying, but also documents insider selling activity — the market reaction so far shows buyers outweighing internal selling, so this is mixed for near‑term direction. Western Digital (WDC) Stock Surges to Record Peak Despite Insider Sales Activity
• Negative Sentiment: Retail SSD price cuts (example: WD Blue SN5100 markdown) could signal near‑term ASP pressure in consumer channels and tighter margins if competition forces broader discounting. WD Blue SN5100 NVMe SSD drops to $324.61 in latest price cut

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.