Cantor Fitzgerald Forecasts Western Digital FY2025 Earnings

Western Digital Co. (NASDAQ:WDC - Free Report) - Research analysts at Cantor Fitzgerald decreased their FY2025 earnings per share (EPS) estimates for Western Digital in a report issued on Thursday, January 30th. Cantor Fitzgerald analyst C. Muse now forecasts that the data storage provider will post earnings of $5.03 per share for the year, down from their prior estimate of $5.86. Cantor Fitzgerald has a "Overweight" rating and a $95.00 price objective on the stock. The consensus estimate for Western Digital's current full-year earnings is $5.16 per share.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%.

A number of other equities analysts have also recently weighed in on the company. UBS Group reduced their price target on Western Digital from $78.00 to $70.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. Robert W. Baird reduced their target price on Western Digital from $100.00 to $80.00 and set an "outperform" rating for the company in a research note on Thursday, January 30th. Wedbush reiterated an "outperform" rating and set a $95.00 target price on shares of Western Digital in a research report on Thursday, January 30th. Rosenblatt Securities cut their price target on shares of Western Digital from $115.00 to $95.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Finally, Morgan Stanley decreased their price objective on shares of Western Digital from $100.00 to $93.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Western Digital presently has an average rating of "Moderate Buy" and an average target price of $84.21.

Western Digital Price Performance

Shares of WDC stock traded down $0.24 during mid-day trading on Monday, hitting $64.48. 3,072,749 shares of the stock were exchanged, compared to its average volume of 6,479,823. Western Digital has a 52-week low of $52.77 and a 52-week high of $81.55. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The company has a market cap of $22.29 billion, a PE ratio of 15.35 and a beta of 1.44. The firm has a fifty day moving average of $65.11 and a 200 day moving average of $65.30.

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the firm's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the completion of the sale, the senior vice president now owns 28,863 shares of the company's stock, valued at $2,020,121.37. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 1,347 shares of company stock valued at $93,027. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Western Digital

A number of hedge funds have recently modified their holdings of the business. Versant Capital Management Inc boosted its position in shares of Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock worth $25,000 after buying an additional 304 shares during the period. Eastern Bank purchased a new position in Western Digital during the 3rd quarter valued at about $27,000. Sierra Ocean LLC acquired a new position in Western Digital in the 4th quarter valued at about $29,000. True Wealth Design LLC increased its stake in Western Digital by 2,184.2% during the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider's stock worth $30,000 after purchasing an additional 415 shares during the period. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Western Digital during the fourth quarter worth about $30,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

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.