Brokerages Set Western Digital Corporation (NASDAQ:WDC) PT at $265.58

Shares of Western Digital Corporation (NASDAQ:WDC) have been given a consensus recommendation of “Moderate Buy” by the twenty-four research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $275.75.

A number of equities analysts have issued reports on WDC shares. Morgan Stanley raised their target price on Western Digital from $260.00 to $306.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Bank of America upped their price target on Western Digital from $197.00 to $257.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Citigroup lifted their price objective on shares of Western Digital to $325.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Mizuho boosted their price objective on shares of Western Digital to $340.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, Argus set a $300.00 target price on shares of Western Digital in a research note on Tuesday, February 3rd.

Western Digital Stock Performance

WDC stock opened at $297.73 on Friday. The business’s fifty day moving average is $275.42 and its 200-day moving average is $197.49. The company has a quick ratio of 1.19, a current ratio of 1.46 and a debt-to-equity ratio of 0.34. The company has a market cap of $100.94 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 0.62 and a beta of 1.77. Western Digital has a twelve month low of $28.83 and a twelve month high of $319.62.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share (EPS) 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 business 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 EPS. The firm’s revenue was up 25.2% on a year-over-year basis. Equities research analysts forecast that Western Digital will post 4.89 EPS for the current year.

Western Digital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Thursday, March 5th were issued a $0.125 dividend. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $0.50 annualized dividend and a dividend yield of 0.2%. Western Digital’s payout ratio is 5.02%.

Insider Activity

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was 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 directly owned 623,586 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, insider Cynthia L. Tregillis sold 9,324 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $268.27, for a total value of $2,501,349.48. Following the completion of the sale, the insider owned 121,682 shares of the company’s stock, valued at $32,643,630.14. This trade represents a 7.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 92,795 shares of company stock worth $24,265,884 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Western Digital

Institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Western Digital by 12.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,317 shares of the data storage provider’s stock valued at $6,281,000 after purchasing an additional 5,731 shares in the last quarter. LBP AM SA bought a new position in shares of Western Digital during the third quarter worth about $641,000. AustralianSuper Pty Ltd acquired a new stake in Western Digital in the 3rd quarter valued at approximately $34,244,000. Moloney Securities Asset Management LLC bought a new stake in Western Digital in the 3rd quarter valued at approximately $636,000. Finally, Cantor Fitzgerald L. P. lifted its stake in Western Digital by 399.8% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 32,487 shares of the data storage provider’s stock valued at $3,900,000 after acquiring an additional 25,987 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Trending Headlines about Western Digital

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

• Positive Sentiment: Bernstein upgraded WDC to Outperform and doubled its price target to $340, calling the recent selloff an overreaction and labeling WDC an “attractive entry point” — this upgrade is the clearest near-term catalyst lifting the stock. Wall Street Thinks Western Digital Stock Price Will Soar Higher This Year
• Positive Sentiment: JetStor announced an 80PB high-density archive deployment for a government agency using Western Digital’s Ultrastar high-capacity drives — a direct enterprise win that supports demand for WDC’s data-center and archive HDD products. JetStor Delivers 80PB High-Density Archive for Government Agency Using WD’s Trusted High-Capacity Ultrastar Drives
• Positive Sentiment: Memory and storage names led the Nasdaq rally today as investors chased momentum and dip-buying in the sector — that rotation into memory stocks is boosting WDC along with peers. Nasdaq Adds to Its Rally. Memory Stocks Led the Charge.
• Positive Sentiment: Analysis pieces argue the recent algorithm-driven selloff created a buying opportunity for memory/storage names given robust AI/cloud demand — this narrative supports continued inflows into WDC. Memory Wipe: The Great TurboQuant Miscalculation (WDC)
• Neutral Sentiment: Coverage of SanDisk’s spectacular post-spinoff run highlights strong AI-driven end-market demand for memory products — positive industry context but not a direct business update for WDC. Sandisk’s Path to $1,000 Per Share Runs Through the AI Memory Boom
• Neutral Sentiment: Broad analyst coverage (Zacks, others) reiterates that Wall Street views WDC as a strong AI/storage play — helpful for sentiment but varies across firms and time horizons. Wall Street Analysts Think Western Digital (WDC) Is a Good Investment: Is It?
• Negative Sentiment: Underlying volatility remains: recent algorithmic selling and a cooling in memory stocks earlier this week remind investors that WDC remains exposed to sentiment-driven swings. That risk can reverse gains quickly if headlines or demand outlooks shift. Memory Stocks Were One of 2025’s Hottest Trades. Now They’ve Cooled Off.

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.