Western Digital (NASDAQ:WDC) Releases Earnings Results, Beats Estimates By $0.23 EPS

Western Digital (NASDAQ:WDC) announced its 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 company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.12 billion. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. Western Digital’s revenue was up 48.9% compared to the same quarter last year. During the same period last year, the firm earned ($1.97) earnings per share. 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 Performance

WDC stock traded up $3.13 during midday trading on Friday, hitting $69.45. 17,644,446 shares of the stock traded hands, compared to its average volume of 6,179,462. The firm has a market cap of $22.68 billion, a P/E ratio of -13.97 and a beta of 1.39. 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 stock’s fifty day simple moving average is $65.42 and its 200-day simple moving average is $69.67. Western Digital has a 1-year low of $35.62 and a 1-year high of $81.55.

Insider Activity

In other news, EVP Robert Soderbery sold 12,154 shares of Western Digital stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $57.09, for a total value of $693,871.86. Following the sale, the executive vice president now owns 128,413 shares in the company, 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 Securities & Exchange Commission, which is available through this link. In related news, CEO David Goeckeler sold 75,000 shares of the business’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Soderbery sold 12,154 shares of Western Digital stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $57.09, for a total transaction of $693,871.86. Following the transaction, the executive vice president now directly owns 128,413 shares in the company, valued at $7,331,098.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,955 shares of company stock worth $6,327,560 over the last 90 days. 0.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Rosenblatt Securities restated a “buy” rating and issued a $115.00 target price on shares of Western Digital in a research note on Friday. Barclays raised their target price on shares of Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley raised their target price on shares of Western Digital from $94.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group lowered their target price on shares of Western Digital from $74.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, TD Cowen lowered their target price on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and an average target price of $86.09.

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.