Western Digital (WDC) to Release Quarterly Earnings on Thursday

Western Digital (NASDAQ:WDC - Get Free Report) will likely be issuing its quarterly earnings data before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $1.91 per share and revenue of $4,302,170.00 billion for the quarter. Western Digital has set its Q2 guidance at $1.75-2.05 EPS and its Q2 2025 guidance at 1.750-2.050 EPS.Parties that are interested in registering for the company's conference call can do so using this link.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period in the previous year, the firm earned ($1.97) EPS. The business's revenue for the quarter was up 48.9% compared to the same quarter last year. On average, analysts expect Western Digital to post $6 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Western Digital Price Performance

NASDAQ:WDC traded up $2.39 during mid-day trading on Tuesday, hitting $67.43. 7,030,788 shares of the company's stock traded hands, compared to its average volume of 5,231,792. Western Digital has a 1 year low of $52.77 and a 1 year high of $81.55. The company has a market cap of $23.31 billion, a PE ratio of 39.66 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.47. The firm's 50 day simple moving average is $65.38 and its 200 day simple moving average is $66.14.

Wall Street Analysts Forecast Growth

WDC has been the topic of a number of recent research reports. Bank of America reduced their target price on Western Digital from $89.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Cantor Fitzgerald reiterated an "overweight" rating and set a $95.00 price objective on shares of Western Digital in a research report on Friday. Wells Fargo & Company decreased their price target on shares of Western Digital from $95.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. Susquehanna boosted 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, October 25th. Finally, BNP Paribas decreased their target price on shares of Western Digital from $95.00 to $90.00 in a research report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Western Digital has an average rating of "Moderate Buy" and a consensus target price of $85.65.

Insider Buying and Selling at Western Digital

In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $72.58, for a total transaction of $5,443,500.00. Following the transaction, the chief executive officer now directly owns 821,630 shares in the company, valued at $59,633,905.40. This represents a 8.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Gene M. Zamiska sold 658 shares of the business's stock in a transaction dated 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 directly owns 28,863 shares of the company's stock, valued at $2,020,121.37. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,107 shares of company stock valued at $7,768,381 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

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.