Western Digital (NASDAQ:WDC) Price Target Raised to $375.00 at UBS Group

Western Digital (NASDAQ:WDC) had its price objective hoisted by UBS Group from $350.00 to $375.00 in a report issued on Friday morning, Marketbeat Ratings reports. UBS Group currently has a neutral rating on the data storage provider’s stock.

A number of other analysts have also recently weighed in on the company. Citigroup raised their price objective on Western Digital from $405.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday. Rosenblatt Securities raised their price objective on Western Digital from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday. Wall Street Zen cut shares of Western Digital from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Weiss Ratings upgraded shares of Western Digital from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 2nd. Finally, Zacks Research cut shares of Western Digital from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Western Digital currently has a consensus rating of “Moderate Buy” and a consensus target price of $389.74.

Western Digital Stock Down 0.6%

Shares of NASDAQ:WDC traded down $2.49 during trading on Friday, reaching $432.03. The stock had a trading volume of 15,448,279 shares, compared to its average volume of 6,646,722. Western Digital has a one year low of $43.60 and a one year high of $446.62. The company has a market capitalization of $146.48 billion, a P/E ratio of 43.33, a PEG ratio of 0.90 and a beta of 2.10. 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 firm’s 50-day simple moving average is $314.33 and its 200 day simple moving average is $233.19.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.33. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Western Digital had a return on equity of 49.24% and a net margin of 55.29%.The business’s quarterly revenue was up 45.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, research analysts expect that Western Digital will post 8.61 EPS for the current fiscal year.

Western Digital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be paid a $0.15 dividend. This is a boost from Western Digital’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Western Digital’s dividend payout ratio (DPR) is 5.02%.

Insider Activity at Western Digital

In other Western Digital news, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $255.44, for a total transaction 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. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Matthew E. Massengill sold 36,926 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was 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. Insiders have sold 92,711 shares of company stock valued at $24,300,404 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Western Digital

A number of institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Western Digital by 12.3% in the 3rd 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 during the period. LBP AM SA acquired a new position in shares of Western Digital in the 3rd quarter valued at $641,000. AustralianSuper Pty Ltd acquired a new position in shares of Western Digital in the 3rd quarter valued at $34,244,000. NorthCrest Asset Manangement LLC lifted its stake in shares of Western Digital by 75.4% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 9,465 shares of the data storage provider’s stock valued at $1,778,000 after purchasing an additional 4,068 shares during the period. Finally, Cantor Fitzgerald L. P. lifted its stake in shares of 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 purchasing an additional 25,987 shares during the period. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital News Summary

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

• Positive Sentiment: WDC beat expectations: Q3 EPS $2.72 and revenue $3.34B, both above consensus, and management raised FY‑Q4 guidance (EPS and revenue) — this underpins the bullish case for continued AI/cloud storage demand. Earnings & press materials
• Positive Sentiment: Multiple analyst upgrades/target raises followed the quarter — Citi hiked its target to $500 (Buy) citing stronger visibility into AI-driven HDD demand, lifting investor optimism. Citi raises target to $500
• Positive Sentiment: Other firms (Rosenblatt, TD Cowen and others) boosted targets or reiterated Buy as AI/data‑center demand drives margin expansion and share‑buyback capacity; the company also announced a quarterly dividend increase, signalling confidence in cash flow.
• Neutral Sentiment: Industry signal — peers (SanDisk/Seagate) also reported strong results and demand commentary, confirming sector‑wide AI storage tailwinds but raising questions about how much of that is already priced in. Reuters: sector demand
• Negative Sentiment: Market reaction was mixed — the stock slipped after the beat as some traders engaged in “buy the rumor, sell the news” profit‑taking following an enormous YTD run; elevated expectations mean strong results may not produce further immediate upside. Yahoo: stock falls despite beat
• Negative Sentiment: Not all analyst moves are bullish: UBS raised its target to $375 but kept a Neutral rating — that level implies downside from current prices and provides a near‑term anchor for traders focused on risk management. Benzinga: UBS target

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.