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

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

WDC traded up $3.13 during midday trading on Friday, reaching $69.45. 17,644,446 shares of the company’s stock traded hands, compared to its average volume of 6,179,462. Western Digital has a 52 week low of $35.62 and a 52 week high of $81.55. 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 firm has a fifty day moving average of $65.42 and a two-hundred day moving average of $69.68. The stock has a market capitalization of $22.68 billion, a price-to-earnings ratio of -13.97 and a beta of 1.39.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. TD Cowen cut their price target on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. BNP Paribas decreased their price target on Western Digital from $95.00 to $90.00 in a research report on Thursday. Susquehanna raised their price objective on shares of Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday. Summit Insights lowered shares of Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Evercore ISI reissued an “outperform” rating and issued a $85.00 price target on shares of Western Digital in a report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Western Digital currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.09.

Insider Activity

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 owns 896,630 shares in the company, valued at $63,051,021.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the chief executive officer now owns 896,630 shares of the company’s stock, valued at $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 is available at this link. Also, SVP Gene M. Zamiska sold 417 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value 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 approximately $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. Over the last three months, insiders have sold 92,955 shares of company stock valued at $6,327,560. Company insiders own 0.28% of the company’s stock.

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.