Western Digital (NASDAQ:WDC) Price Target Raised to $500.00 at Susquehanna

Western Digital (NASDAQ:WDC) had its price objective increased by Susquehanna from $360.00 to $500.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the data storage provider’s stock. Susquehanna’s target price indicates a potential downside of 6.03% from the stock’s current price.

Several other brokerages have also recently weighed in on WDC. UBS Group lifted their price target on Western Digital from $350.00 to $375.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Mizuho lifted their target price on Western Digital from $550.00 to $685.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Rosenblatt Securities raised their price objective on shares of Western Digital from $340.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Cantor Fitzgerald upped their target price on shares of Western Digital from $660.00 to $900.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Western Digital from $530.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Western Digital presently has an average rating of “Moderate Buy” and a consensus price target of $502.12.

Western Digital Stock Down 7.9%

WDC opened at $532.10 on Wednesday. The firm has a 50-day moving average price of $545.76 and a 200-day moving average price of $365.92. Western Digital has a twelve month low of $63.67 and a twelve month high of $799.87. The company has a market capitalization of $183.40 billion, a price-to-earnings ratio of 31.77 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period last year, the firm earned $1.36 EPS. Western Digital’s revenue for the quarter was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, sell-side analysts expect that Western Digital will post 9.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Vidyadhara K. Gubbi sold 4,674 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $443.19, for a total value of $2,071,470.06. Following the completion of the sale, the insider owned 90,041 shares of the company’s stock, valued at $39,905,270.79. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bruce E. Kiddoo sold 750 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $528.52, for a total transaction of $396,390.00. Following the completion of the transaction, the director owned 3,903 shares of the company’s stock, valued at $2,062,813.56. This trade represents a 16.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,322 shares of company stock worth $12,768,550 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Western Digital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dogwood Wealth Management LLC grew its holdings in shares of Western Digital by 28.6% during the 2nd quarter. Dogwood Wealth Management LLC now owns 90 shares of the data storage provider’s stock worth $57,000 after acquiring an additional 20 shares during the period. Dynamic Advisor Solutions LLC increased its holdings in shares of Western Digital by 2.1% during the second quarter. Dynamic Advisor Solutions LLC now owns 1,390 shares of the data storage provider’s stock valued at $888,000 after acquiring an additional 28 shares in the last quarter. GHP Investment Advisors Inc. raised its position in shares of Western Digital by 9.2% in the 1st quarter. GHP Investment Advisors Inc. now owns 357 shares of the data storage provider’s stock worth $97,000 after purchasing an additional 30 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in Western Digital by 33.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 132 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 33 shares in the last quarter. Finally, City Center Advisors LLC raised its holdings in Western Digital by 3.5% in the second quarter. City Center Advisors LLC now owns 1,101 shares of the data storage provider’s stock worth $703,000 after buying an additional 37 shares during the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital News Roundup

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

• Positive Sentiment: Goldman Sachs reportedly initiated/issued a Hold on Western Digital, while other analysts remain constructive on the memory cycle and some price targets in the group stay well above current levels. Western Digital (WDC) Gets a Hold from Goldman Sachs
• Positive Sentiment: Some commentary says the pullback may be a reset rather than a trend change, with tight supply in data-center storage and AI-related demand still supporting the longer-term investment case for WDC. Flash Crash or Cash? The AI Hardware Reset Investors Can’t Ignore (WDC)
• Neutral Sentiment: Western Digital has also been a trending stock on investor sites, reflecting elevated attention rather than a clear fundamental change. Here is What to Know Beyond Why Western Digital Corporation (WDC) is a Trending Stock
• Negative Sentiment: Western Digital fell with the broader memory/storage cohort after Samsung’s results triggered sector-wide selling and renewed concerns about near-term volatility in chip and storage names. Western Digital Stock Drops 8.5%: Why Samsung’s Profit Surge Triggered a Tech Selloff
• Negative Sentiment: Another report said WDC and peers sank as investors worried Samsung’s strong quarter could still lead to a broader memory-sector pullback and valuation compression. Micron, SanDisk, and Western Digital Sink 7% as Samsung Earnings Spark a Memory Selloff

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.