Western Digital (NASDAQ:WDC) Price Target Raised to $325.00

Western Digital (NASDAQ:WDC) had its target price increased by Citigroup to $325.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the data storage provider’s stock.

WDC has been the subject of several other reports. UBS Group set a $306.00 target price on Western Digital in a report on Friday, January 30th. JPMorgan Chase & Co. upped their price objective on Western Digital from $94.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Morgan Stanley lifted their target price on Western Digital from $260.00 to $306.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Cantor Fitzgerald boosted their price target on shares of Western Digital to $325.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, The Goldman Sachs Group raised their price objective on shares of Western Digital from $165.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and an average price target of $262.25.

Western Digital Price Performance

WDC opened at $269.41 on Monday. Western Digital has a 1 year low of $28.83 and a 1 year high of $296.50. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 1.19. The company has a market capitalization of $91.34 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 0.75 and a beta of 1.80. The firm’s fifty day moving average price is $200.92 and its two-hundred day moving average price is $141.50.

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

Western Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Thursday, March 5th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Thursday, March 5th. Western Digital’s payout ratio is presently 5.02%.

Insider Buying and Selling

In other news, Director Roxanne Oulman sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $154.42, for a total value of $277,956.00. Following the completion of the transaction, the director directly owned 3,863 shares in the company, valued at approximately $596,524.46. This trade represents a 31.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimberly Alexy sold 1,768 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $154.00, for a total transaction of $272,272.00. Following the sale, the director directly owned 3,585 shares in the company, valued at $552,090. This trade represents a 33.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 26,816 shares of company stock worth $6,211,148. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Avion Wealth grew its position in Western Digital by 163.8% during the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 113 shares during the last quarter. ORG Partners LLC boosted its stake in shares of Western Digital by 124.5% during the third quarter. ORG Partners LLC now owns 211 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 117 shares during the period. Concord Wealth Partners bought a new position in shares of Western Digital in the fourth quarter worth approximately $41,000. Cullen Frost Bankers Inc. grew its holdings in shares of Western Digital by 551.4% in the third quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 204 shares during the last quarter. Finally, Grove Bank & Trust purchased a new position in shares of Western Digital in the third quarter worth $30,000. 92.51% of the stock is currently owned by institutional investors.

Trending Headlines about Western Digital

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

• Positive Sentiment: Board approved an additional $4 billion share repurchase program, signaling strong capital-return intent and likely supporting near-term demand for shares. Reuters: Western Digital adds $4 billion to buyback plan
• Positive Sentiment: Company held Innovation Day and unveiled an AI-focused storage roadmap (path to 100TB+ HDDs, UltraSMR adoption) and rebranded to “WD,” reinforcing its strategic role in AI data infrastructure. BusinessWire: Western Digital Accelerates Storage Innovation
• Positive Sentiment: Recent results and guidance confirm strong demand: solid Q2 revenue/EPS and the broader “memory supercycle” thesis (AI training & storage needs) that supports durable end-market growth for high-capacity HDDs. MarketBeat: The Memory Supercycle Is Here
• Positive Sentiment: Analysts are raising targets and reiterating buys (examples: Mizuho and Rosenblatt with $340 PTs), adding upward pressure to sentiment and fueling momentum. The Fly: Price target raised at Mizuho
• Neutral Sentiment: SanDisk (spun off from WDC) is rallying dramatically, highlighting a broader memory-led rotation into AI hardware; that thematic lift helps WDC but also concentrates sector exposure and volatility risk. MarketBeat: Sandisk’s Swings Are Getting Bigger
• Neutral Sentiment: Macro/policy pieces (U.S. push to secure critical-mineral supply chains) could be supportive for domestic supply stability over time but are not an immediate stock catalyst. MarketBeat: Trump administration pushes critical minerals plan
• Negative Sentiment: CEO Irving Tan sold 20,000 shares (~3.1% reduction in his disclosed position), a near-term negative signal that may have contributed to profit-taking despite his remaining large stake. SEC filing: Insider sale disclosure

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.