FY2025 EPS Estimates for Western Digital Cut by Analyst

Western Digital Co. (NASDAQ:WDC) – Cantor Fitzgerald dropped their FY2025 EPS estimates for Western Digital in a report released on Thursday, January 30th. Cantor Fitzgerald analyst C. Muse now forecasts that the data storage provider will post earnings of $5.03 per share for the year, down from their previous forecast of $5.86. Cantor Fitzgerald currently has a “Overweight” rating and a $95.00 target price on the stock. The consensus estimate for Western Digital’s current full-year earnings is $5.37 per share.

Several other research firms also recently commented on WDC. Bank of America decreased their price objective on Western Digital from $89.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Benchmark downgraded Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price target on the stock. in a report on Thursday, December 19th. Susquehanna reduced their price target on Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday. Wedbush reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Western Digital in a research report on Thursday. Finally, BNP Paribas dropped their price target on Western Digital from $95.00 to $90.00 in a research report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $84.21.

Western Digital Price Performance

Western Digital stock opened at $65.13 on Monday. Western Digital has a one year low of $52.77 and a one year high of $81.55. The business has a fifty day moving average price of $65.67 and a 200-day moving average price of $65.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. The firm has a market capitalization of $22.52 billion, a P/E ratio of 15.51 and a beta of 1.43.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 16.13% and a net margin of 9.95%.

Insiders Place Their Bets

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 transaction, 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 document filed with the SEC, which is accessible through this link. Over the last three months, insiders have sold 1,347 shares of company stock valued at $93,027. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Western Digital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WDC. First Horizon Advisors Inc. grew its stake in shares of Western Digital by 5.4% in the third quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock worth $200,000 after acquiring an additional 149 shares during the last quarter. Mather Group LLC. raised its holdings in Western Digital by 7.0% during the 4th quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider’s stock worth $144,000 after purchasing an additional 159 shares during the last quarter. Vontobel Holding Ltd. grew its position in shares of Western Digital by 1.4% during the 4th quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider’s stock worth $704,000 after buying an additional 164 shares during the period. Quarry LP grew its position in shares of Western Digital by 22.6% in the 3rd quarter. Quarry LP now owns 932 shares of the data storage provider’s stock valued at $64,000 after purchasing an additional 172 shares during the period. Finally, Inspire Investing LLC grew its position in shares of Western Digital by 4.3% in the 4th quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider’s stock valued at $258,000 after purchasing an additional 177 shares during the period. Institutional investors own 92.51% of the company’s stock.

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.