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

Western Digital (NASDAQ:WDC) issued its quarterly earnings results on Thursday. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.23, Briefing.com reports. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the firm posted ($1.97) EPS. The firm’s revenue for the quarter was up 48.9% on a year-over-year basis. 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 Up 4.7 %

NASDAQ:WDC traded up $3.13 during mid-day trading on Friday, hitting $69.45. The company had a trading volume of 17,644,446 shares, compared to its average volume of 6,179,462. The business has a fifty day simple moving average of $65.42 and a 200-day simple moving average of $69.67. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. Western Digital has a 1 year low of $35.62 and a 1 year high of $81.55. The firm has a market capitalization of $22.68 billion, a price-to-earnings ratio of -13.97 and a beta of 1.39.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. TD Cowen lowered their price objective on Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Citigroup lowered their price objective on Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday. Summit Insights lowered Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. UBS Group decreased their price target on Western Digital from $74.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Barclays boosted their price target on Western Digital from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $86.09.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total transaction of $27,059.13. Following the completion of the sale, the senior vice president now directly owns 28,870 shares in the company, valued at $1,873,374.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Robert Soderbery sold 12,154 shares of the firm’s 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the sale, the senior vice president now owns 28,870 shares of the company’s stock, valued at $1,873,374.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,955 shares of company stock valued at $6,327,560 over the last three months. 0.28% of the stock is owned by company insiders.

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.