Western Digital (NASDAQ:WDC) Issues Earnings Results

Western Digital (NASDAQ:WDC) released its quarterly earnings results on Thursday. The data storage provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.23, Briefing.com reports. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. The company’s revenue was up 48.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.97) EPS. 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 Stock Up 4.7 %

Western Digital stock traded up $3.13 during trading hours on Friday, reaching $69.45. The stock had a trading volume of 17,644,446 shares, compared to its average volume of 6,179,462. The company has a market cap of $22.68 billion, a price-to-earnings ratio of -13.97 and a beta of 1.39. 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 current ratio of 1.32 and a quick ratio of 0.78. The business’s 50 day moving average price is $65.42 and its 200-day moving average price is $69.68.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. UBS Group dropped their price objective on shares of Western Digital from $74.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday. Susquehanna raised their target price on Western Digital from $75.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday. Benchmark reiterated a “buy” rating and issued a $92.00 price target on shares of Western Digital in a research report on Friday. StockNews.com upgraded Western Digital from a “sell” rating to a “hold” rating in a research note on Saturday, July 6th. Finally, TD Cowen reduced their price target on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.09.

Insider Transactions at Western Digital

In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $70.32, for a total value of $5,274,000.00. Following the completion of the transaction, the chief executive officer now owns 896,630 shares of the company’s stock, valued at approximately $63,051,021.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Robert Soderbery sold 12,154 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $57.09, for a total transaction of $693,871.86. Following the completion of the transaction, the executive vice president now owns 128,413 shares of the company’s stock, valued at $7,331,098.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Goeckeler sold 75,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the completion of the sale, the chief executive officer now directly 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. Insiders sold 92,955 shares of company stock valued at $6,327,560 in the last quarter. 0.28% of the stock is currently owned by corporate 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.