Western Digital (NASDAQ:WDC) Announces Earnings Results

Western Digital (NASDAQ:WDC) issued its earnings results on Thursday. The data storage provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.23, Briefing.com reports. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the firm posted ($1.97) earnings per share. Western Digital’s quarterly revenue was up 48.9% compared to the same quarter last year. Western Digital updated its Q2 guidance to $1.75-2.05 EPS and its Q2 2025 guidance to 1.750-2.050 EPS.

Western Digital Price Performance

Shares of NASDAQ WDC traded up $3.13 during trading on Friday, hitting $69.45. The company had a trading volume of 17,644,446 shares, compared to its average volume of 6,179,462. Western Digital has a 52 week low of $35.62 and a 52 week high of $81.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32. The company has a market cap of $22.68 billion, a P/E ratio of -13.97 and a beta of 1.39. The business’s 50-day moving average is $65.42 and its 200 day moving average is $69.67.

Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of Western Digital stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total transaction of $27,059.13. Following the transaction, the senior vice president now directly owns 28,870 shares in the company, valued at approximately $1,873,374.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of Western Digital stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total transaction of $27,059.13. Following the transaction, the senior vice president now directly owns 28,870 shares in the company, valued at approximately $1,873,374.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Goeckeler sold 75,000 shares of Western Digital stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the transaction, the chief executive officer now owns 896,630 shares in the company, valued at approximately $63,051,021.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,955 shares of company stock worth $6,327,560. Corporate insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on WDC. TD Cowen decreased their target price on Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, September 13th. The Goldman Sachs Group cut their price target on Western Digital from $79.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday. Morgan Stanley lifted their price target on Western Digital from $94.00 to $100.00 and gave the company an “overweight” rating in a report on Friday. StockNews.com raised Western Digital from a “sell” rating to a “hold” rating in a report on Saturday, July 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $92.00 price target on shares of Western Digital in a report on Friday. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Western Digital has an average rating of “Moderate Buy” and a consensus target price of $86.09.

About Western Digital

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.