Western Digital (NASDAQ:WDC) Stock Gets Price Target Reduction from Cantor Fitzgerald

Western Digital (NASDAQ:WDC) had its price objective lowered by research analysts at Cantor Fitzgerald from $900.00 to $625.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the data storage provider’s stock. Cantor Fitzgerald‘s price target indicates a potential upside of 76.46% from the stock’s current price.

A number of other research firms have also recently issued reports on WDC. Susquehanna raised their price objective on Western Digital from $360.00 to $500.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Zacks Research lowered Western Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Robert W. Baird set a $630.00 price target on Western Digital in a research note on Thursday, August 6th. BNP Paribas Exane raised their price target on Western Digital from $660.00 to $700.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Mizuho set a $590.00 price objective on shares of Western Digital in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $608.07.

Western Digital Price Performance

Shares of WDC stock opened at $354.19 on Friday. The stock has a market cap of $132.58 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.60 and a beta of 2.11. The company has a fifty day moving average price of $435.48 and a two-hundred day moving average price of $480.46. Western Digital has a one year low of $121.71 and a one year high of $799.87.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, October 22nd. The data storage provider reported $4.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $0.53. Western Digital had a net margin of 72.95% and a return on equity of 48.15%. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the prior year, the firm earned $1.78 EPS. Western Digital’s quarterly revenue was up 55.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Western Digital will post 19.69 EPS for the current fiscal year.

Insider Activity

In other Western Digital news, insider Cynthia L. Tregillis sold 807 shares of the business’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $380.00, for a total value of $306,660.00. Following the completion of the sale, the insider owned 108,928 shares of the company’s stock, valued at $41,392,640. The trade was a 0.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Irving Tan sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $444.97, for a total value of $8,899,400.00. Following the transaction, the chief executive officer owned 575,966 shares in the company, valued at approximately $256,287,591.02. This trade represents a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 25,436 shares of company stock valued at $11,340,064. 0.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Western Digital

A number of hedge funds have recently made changes to their positions in WDC. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Western Digital in the 2nd quarter worth about $28,000. Dunhill Financial LLC acquired a new stake in shares of Western Digital during the second quarter valued at about $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Western Digital during the second quarter valued at about $31,000. Gables Capital Management Inc. bought a new stake in shares of Western Digital during the second quarter worth about $32,000. Finally, Ares Financial Consulting LLC increased its stake in shares of Western Digital by 45.5% in the second quarter. Ares Financial Consulting LLC now owns 80 shares of the data storage provider’s stock valued at $51,000 after buying an additional 25 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Western Digital

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: Western Digital reported fiscal Q1 2027 adjusted earnings of $4.64 per share and revenue of $4.38 billion, exceeding estimates of approximately $4.09–$4.11 per share and $4.14 billion. Revenue increased 55.5% year over year, supported by data-center demand and improved pricing. Western Digital earnings report
• Positive Sentiment: Management’s fiscal Q2 outlook was also well above expectations, calling for approximately $5.1 billion in revenue and adjusted EPS of $5.80, plus or minus $0.20. Gross margins are expected to approach 60%, indicating continued pricing power and favorable supply-demand conditions. Western Digital earnings call highlights
• Positive Sentiment: AI inference, robotics, cloud expansion, and long-term data retention are sustaining storage demand. Management reportedly sees customer planning visibility extending into 2030 and 2031, while HAMR technology and higher-capacity drives could support future growth. Western Digital AI storage demand
• Positive Sentiment: Western Digital generated roughly $1.38 billion in free cash flow, raised its quarterly dividend 16.7% to $0.175 per share, and received supportive analyst actions, including Bank of America’s $800 price target. Brookstone Capital Management also increased its position by 4.5% in the third quarter.
• Neutral Sentiment: HDD price growth is expected to moderate eventually. Although demand remains strong, investors may be unwilling to extend the stock’s valuation if pricing and margins peak.
• Negative Sentiment: The initial favorable earnings reaction reversed as selling spread across AI, memory, and storage stocks. Concerns include higher inventory, potential supply growth, hyperscaler spending risks, and execution challenges during the HAMR transition.
• Negative Sentiment: Insider Cynthia Tregillis sold 807 shares worth approximately $306,660 under a pre-arranged Rule 10b5-1 plan. The sale reduced her holdings by only 0.74% and is therefore a limited signal, but continued insider selling may weigh on sentiment. SEC insider transaction filing

About Western Digital

Western Digital Corporation (NASDAQ: WDC) is a data storage technology company that develops and manufactures hard disk drives (HDDs) and related storage solutions. Its products are used in data centers, cloud infrastructure, enterprise systems, personal computers, gaming platforms and external storage devices.

The company offers HDD-based products for business and consumer applications, including high-capacity drives designed for hyperscale and cloud data centers, enterprise storage environments, network-attached storage systems and personal computing.