JPMorgan Chase & Co. Issues Positive Forecast for Western Digital (NASDAQ:WDC) Stock Price

Western Digital (NASDAQ:WDC) had its target price lifted by analysts at JPMorgan Chase & Co. from $530.00 to $650.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the data storage provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 15.48% from the stock’s current price.

A number of other equities research analysts also recently commented on WDC. Wall Street Zen upgraded Western Digital from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Evercore reiterated an “outperform” rating and set a $575.00 price objective on shares of Western Digital in a report on Tuesday, May 26th. TD Cowen increased their price objective on Western Digital from $325.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Sanford C. Bernstein raised shares of Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 target price on the stock in a research report on Tuesday, March 31st. Finally, Jefferies Financial Group set a $575.00 price target on Western Digital in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $443.71.

Western Digital Stock Up 6.3%

NASDAQ WDC traded up $33.59 on Friday, reaching $562.88. 3,200,430 shares of the stock traded hands, compared to its average volume of 8,733,970. The firm’s fifty day simple moving average is $441.92 and its 200 day simple moving average is $306.11. The company has a market cap of $194.01 billion, a price-to-earnings ratio of 33.59 and a beta of 2.13. Western Digital has a 12 month low of $54.60 and a 12 month high of $602.54.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. The firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.25 billion. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The firm’s quarterly revenue was up 45.5% on a year-over-year basis. During the same period last year, the company posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, equities research analysts forecast that Western Digital will post 9.57 EPS for the current fiscal year.

Insider Activity

In other news, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the transaction, the director owned 3,903 shares in the company, valued at approximately $2,062,813.56. The trade was a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Irving Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the transaction, the chief executive officer owned 598,150 shares of the company’s stock, valued at $246,342,096. This trade represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 29,322 shares of company stock worth $12,768,550. 0.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. GHP Investment Advisors Inc. grew its holdings 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 valued at $97,000 after buying an additional 30 shares during the period. Cornerstone Planning Group LLC lifted its position 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 worth $36,000 after buying an additional 33 shares in the last quarter. Alps Advisors Inc. lifted its position in Western Digital by 0.8% during the 4th quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider’s stock worth $811,000 after buying an additional 37 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its position in Western Digital by 1.1% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 3,782 shares of the data storage provider’s stock worth $1,023,000 after buying an additional 40 shares in the last quarter. Finally, Quadcap Wealth Management LLC raised its holdings in shares of Western Digital by 2.1% in the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock valued at $346,000 after purchasing an additional 41 shares during the period. Institutional investors own 92.51% of the company’s stock.

Key Western Digital News

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

• Positive Sentiment: Western Digital announced a privately negotiated exchange of 1.04 million SanDisk shares with institutional investors, a move that investors appear to view as strategically favorable for WDC. The deal is expected to close on June 22, 2026. Western Digital (WDC) Stock Jumps 6% on Sandisk Share Exchange Announcement
• Positive Sentiment: Analysts remain constructive on Western Digital, with recent price-target boosts from firms including Mizuho and Citi, reflecting confidence that AI storage demand and pricing trends can keep earnings growing. Mizuho and Citi Raise Western Digital (WDC) Price Targets
• Positive Sentiment: Western Digital highlighted AI-focused storage products at Computex 2026, underscoring its position as a key infrastructure supplier for data centers and other AI workloads. WDC Powers AI Infrastructure Play With Storage Innovation at Computex
• Positive Sentiment: The company’s strong free cash flow, higher dividend, and newly announced $4 billion buyback plan are supporting a shareholder-friendly capital return story. Is Western Digital’s Free Cash Flow Supporting Long-Term Growth?
• Neutral Sentiment: Broader semiconductor and memory-stock strength, including a rebound in the Nasdaq and improving sentiment across the group, is also helping lift WDC alongside peers like SanDisk and Micron. MU, STX, WDC, DRAM: Memory Stocks Rally Amid Hopes Of Iran Peace Deal, SNDK Hits Fresh High

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.