Western Digital’s (WDC) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Western Digital (NASDAQ:WDC) in a report issued on Wednesday morning,Benzinga reports. They currently have a $340.00 price objective on the data storage provider’s stock.

Other analysts also recently issued research reports about the company. Robert W. Baird set a $310.00 price target on Western Digital in a report on Monday. Cantor Fitzgerald increased their target price on Western Digital to $325.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. New Street Research set a $250.00 price target on shares of Western Digital in a report on Tuesday. The Goldman Sachs Group set a $250.00 price objective on shares of Western Digital in a report on Tuesday. Finally, Zacks Research upgraded shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and a consensus target price of $262.25.

Western Digital Stock Performance

Western Digital stock opened at $269.41 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 1.19. Western Digital has a 12 month low of $28.83 and a 12 month high of $296.50. The company has a fifty day moving average price of $200.92 and a two-hundred day moving average price of $141.50. The company has a market cap of $91.34 billion, a PE ratio of 27.02, a P/E/G ratio of 0.75 and a beta of 1.80.

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 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 the consensus estimate of $2.93 billion. During the same period last year, the firm posted $1.77 EPS. The company’s revenue for the quarter was up 25.2% on a year-over-year basis. Research analysts expect that Western Digital will post 4.89 earnings per share for the current year.

Western Digital Announces Dividend

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

Insider Activity at Western Digital

In other Western Digital news, insider Cynthia L. Tregillis sold 2,801 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $160.57, for a total value of $449,756.57. Following the completion of the sale, the insider directly owned 144,596 shares in the company, valued at $23,217,779.72. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Roxanne Oulman sold 1,800 shares of Western Digital stock in a transaction 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 transaction, the director 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 26,816 shares of company stock valued at $6,211,148. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Western Digital by 7.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after acquiring an additional 3,019 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Western Digital by 229.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock worth $56,000 after purchasing an additional 967 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Western Digital during the second quarter valued at approximately $307,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Western Digital by 2.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,586 shares of the data storage provider’s stock worth $2,981,000 after buying an additional 1,191 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in Western Digital in the second quarter worth approximately $83,000. Institutional investors own 92.51% of the company’s stock.

Western Digital News Roundup

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

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.