FY2025 EPS Estimates for Western Digital Cut by Analyst

Western Digital Co. (NASDAQ:WDC) – Equities research analysts at Cantor Fitzgerald decreased their FY2025 earnings per share (EPS) estimates for Western Digital in a research report issued to clients and investors on Thursday, May 1st. Cantor Fitzgerald analyst C. Muse now forecasts that the data storage provider will earn $3.93 per share for the year, down from their prior forecast of $4.11. Cantor Fitzgerald currently has a “Overweight” rating and a $65.00 target price on the stock. The consensus estimate for Western Digital’s current full-year earnings is $4.89 per share.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Wednesday, April 30th. The data storage provider reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.30. The business had revenue of ($1,465.00) million during the quarter, compared to analysts’ expectations of $2.70 billion. Western Digital had a net margin of 9.95% and a return on equity of 15.68%. The business’s revenue for the quarter was down 33.6% on a year-over-year basis. During the same period last year, the business earned $0.63 earnings per share.

WDC has been the topic of a number of other reports. Morgan Stanley lifted their price target on Western Digital from $46.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Barclays lowered their target price on Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. StockNews.com assumed coverage on shares of Western Digital in a research note on Friday. They set a “hold” rating on the stock. Wells Fargo & Company reduced their price objective on Western Digital from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup decreased their price target on Western Digital from $64.00 to $48.00 and set a “buy” rating for the company in a report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.65.

Western Digital Trading Up 0.8 %

WDC opened at $45.03 on Monday. The firm has a market cap of $15.66 billion, a P/E ratio of 10.72 and a beta of 1.42. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $40.35 and a 200-day simple moving average of $56.83. Western Digital has a 52 week low of $28.83 and a 52 week high of $81.55.

Institutional Investors Weigh In On Western Digital

Several large investors have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky increased its holdings in Western Digital by 10.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 26,683 shares of the data storage provider’s stock worth $1,079,000 after purchasing an additional 2,460 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Western Digital by 48.3% during the first quarter. Kestra Private Wealth Services LLC now owns 7,209 shares of the data storage provider’s stock worth $291,000 after buying an additional 2,348 shares during the period. Kintayl Capital LP grew its holdings in shares of Western Digital by 25.5% during the first quarter. Kintayl Capital LP now owns 221,126 shares of the data storage provider’s stock worth $8,940,000 after buying an additional 44,935 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Western Digital by 24.9% during the first quarter. Victory Capital Management Inc. now owns 125,880 shares of the data storage provider’s stock worth $5,089,000 after buying an additional 25,124 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Western Digital by 242.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,208 shares of the data storage provider’s stock valued at $49,000 after acquiring an additional 855 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 1,659 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the sale, the senior vice president now owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

Western Digital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Wednesday, June 4th. Western Digital’s dividend payout ratio (DPR) is currently 7.58%.

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.