Western Digital (NASDAQ:WDC) Issues Q2 Earnings Guidance

Western Digital (NASDAQ:WDC) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $1.75-2.05 for the period, compared to the consensus EPS estimate of $1.93. The company issued revenue guidance of $4.20-4.40 billion, compared to the consensus revenue estimate of $4.33 billion. Western Digital also updated its Q2 2025 guidance to 1.750-2.050 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WDC shares. The Goldman Sachs Group cut their target price on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday. Evercore ISI restated an “outperform” rating and set a $85.00 price target on shares of Western Digital in a research note on Thursday, August 15th. Wedbush restated an “outperform” rating and set a $95.00 target price on shares of Western Digital in a research report on Friday. TD Cowen reduced their price objective on Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $115.00 price target on shares of Western Digital in a report on Friday. Six investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $86.09.

Western Digital Stock Up 4.7 %

Shares of WDC traded up $3.13 during midday trading on Friday, reaching $69.45. 16,216,267 shares of the stock were exchanged, compared to its average volume of 6,179,462. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $65.31 and its two-hundred day moving average is $69.73. The company has a market capitalization of $24.01 billion, a P/E ratio of -38.99 and a beta of 1.39. Western Digital has a 52 week low of $35.62 and a 52 week high of $81.55.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.17. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.77 billion. On average, sell-side analysts anticipate that Western Digital will post 7.75 earnings per share for the current year.

Insider Buying and Selling at Western Digital

In other Western Digital news, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 128,413 shares in the company, valued at approximately $7,331,098.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, 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 completion of the sale, the executive vice president now owns 128,413 shares of the company’s stock, valued at $7,331,098.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Goeckeler sold 75,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the completion of the transaction, the chief executive officer now owns 896,630 shares in the company, valued at approximately $63,051,021.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,955 shares of company stock worth $6,327,560. 0.30% of the stock is owned by insiders.

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.