Western Digital Analysts Increase Their Forecasts After Upbeat Earnings

Western Digital Corp (NASDAQ:WDC) reported better-than-expected third-quarter financial results Wednesday.

The company reported EPS of $1.36, topping the analyst consensus estimate of $1.13. Its quarterly sales of $2.29 billion fell 33.6% year-on-year and missed the $2.36 billion consensus estimate.

CEO Irving Tan said, "Even in a world marked by geopolitical uncertainty and shifting tariff dynamics, one thing remains constant: the exponential growth of data. When it comes to storing that data, at scale, no technology rivals the cost-efficiency and reliability of HDDs. With our rich portfolio of storage products, WD is uniquely positioned to meet our customers' mass storage needs."

Western Digital said it expects first-quarter EPS of $1.25-$1.65 versus the $1.16 analyst consensus estimate. It forecasts quarterly revenue of $2.30 billion—$2.60 billion versus the $2.39 billion analyst consensus estimate. The company expects an adjusted gross margin of 40.0%- 41.0%.

Western Digital shares gained 8% to close at $43.86 on Wednesday.

These analysts made changes to their price targets on Western Digital following earnings announcement.

• Rosenblatt analyst Kevin Cassidy maintained Western Digital with a Buy and raised the price target from $50 to $53.
• JP Morgan analyst Harlan Sur upgraded Western Digital from Neutral to Overweight and raised the price target from $45 to $57.

Considering buying WDC stock? Here’s what analysts think:

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