FY2025 EPS Estimates for Western Digital Lowered by Analyst

Western Digital Co. (NASDAQ:WDC) – Research analysts at Cantor Fitzgerald cut their FY2025 EPS estimates for shares of Western Digital in a note issued to investors on Thursday, January 30th. Cantor Fitzgerald analyst C. Muse now anticipates that the data storage provider will post earnings per share of $5.03 for the year, down from their prior forecast of $5.86. Cantor Fitzgerald currently has a “Overweight” rating and a $95.00 price objective on the stock. The consensus estimate for Western Digital’s current full-year earnings is $5.16 per share.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%.

A number of other research firms have also weighed in on WDC. Benchmark lowered shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price for the company. in a research report on Thursday, December 19th. Rosenblatt Securities lowered their target price on shares of Western Digital from $115.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Robert W. Baird reduced their price target on shares of Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Citigroup reduced their target price on shares of Western Digital from $82.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Finally, Morgan Stanley cut their price objective on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Western Digital currently has an average rating of “Moderate Buy” and a consensus price target of $84.21.

Western Digital Stock Down 1.1 %

Western Digital stock opened at $64.42 on Monday. The firm has a market cap of $22.27 billion, a price-to-earnings ratio of 15.34 and a beta of 1.43. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. Western Digital has a fifty-two week low of $52.77 and a fifty-two week high of $81.55. The firm has a fifty day moving average price of $65.57 and a two-hundred day moving average price of $65.36.

Institutional Trading of Western Digital

Hedge funds have recently modified their holdings of the stock. Sachem Head Capital Management LP lifted its position in shares of Western Digital by 75.2% during the 3rd quarter. Sachem Head Capital Management LP now owns 2,030,000 shares of the data storage provider’s stock worth $138,629,000 after buying an additional 871,500 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Western Digital by 24.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock valued at $253,453,000 after purchasing an additional 732,344 shares in the last quarter. Holocene Advisors LP grew its holdings in shares of Western Digital by 25.7% during the 3rd quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock valued at $218,034,000 after purchasing an additional 651,847 shares during the last quarter. State Street Corp boosted its position in Western Digital by 3.2% in the third quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock valued at $926,879,000 after buying an additional 423,651 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. grew its stake in shares of Western Digital by 13.2% during the third quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider’s stock worth $224,497,000 after buying an additional 383,390 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 658 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total transaction of $46,053.42. Following the completion of the sale, the senior vice president now owns 28,863 shares in the company, valued at approximately $2,020,121.37. This trade represents a 2.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 1,347 shares of company stock worth $93,027 over the last quarter. 0.30% of the stock is currently owned by insiders.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.