Cantor Fitzgerald Estimates Western Digital FY2025 Earnings

Western Digital Co. (NASDAQ:WDC) – Equities research analysts at Cantor Fitzgerald issued their FY2025 earnings estimates for shares of Western Digital in a note issued to investors on Tuesday, January 21st. Cantor Fitzgerald analyst C. Muse expects that the data storage provider will post earnings of $5.86 per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $95.00 target price on the stock. The consensus estimate for Western Digital’s current full-year earnings is $5.54 per share.

Other research analysts have also issued research reports about the stock. Morgan Stanley reduced their price objective on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Benchmark lowered shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price objective on the stock. in a research note on Thursday, December 19th. UBS Group reduced their price objective on shares of Western Digital from $74.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Citigroup reduced their price objective on shares of Western Digital from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $115.00 price target on shares of Western Digital in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.65.

Western Digital Stock Down 1.8 %

Western Digital stock opened at $67.41 on Friday. The company’s 50 day simple moving average is $65.77 and its 200 day simple moving average is $65.94. Western Digital has a fifty-two week low of $52.77 and a fifty-two week high of $81.55. The firm has a market capitalization of $23.30 billion, a price-to-earnings ratio of 39.65 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.55 by $0.23. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the company earned ($1.97) EPS. Western Digital’s revenue was up 48.9% on a year-over-year basis.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 658 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total transaction of $46,053.42. Following the transaction, the senior vice president now directly owns 28,863 shares in the company, valued at approximately $2,020,121.37. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Soderbery sold 30,767 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the transaction, the executive vice president now owns 135,398 shares in the company, valued at approximately $9,208,417.98. The trade was a 18.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,107 shares of company stock valued at $2,324,881 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Western Digital

A number of institutional investors have recently added to or reduced their stakes in WDC. Sachem Head Capital Management LP increased its holdings in shares of Western Digital by 75.2% in the third quarter. Sachem Head Capital Management LP now owns 2,030,000 shares of the data storage provider’s stock valued at $138,629,000 after purchasing an additional 871,500 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Western Digital by 24.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock valued at $253,453,000 after purchasing an additional 732,344 shares during the last quarter. Holocene Advisors LP increased its holdings in shares of Western Digital by 25.7% in the third quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock valued at $218,034,000 after purchasing an additional 651,847 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Western Digital by 304.9% in the second quarter. Marshall Wace LLP now owns 709,386 shares of the data storage provider’s stock valued at $53,750,000 after purchasing an additional 534,168 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Western Digital by 240.5% in the second quarter. The Manufacturers Life Insurance Company now owns 675,875 shares of the data storage provider’s stock valued at $51,211,000 after purchasing an additional 477,390 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

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.