Western Digital (NASDAQ:WDC) Releases Earnings Results, Beats Expectations By $0.23 EPS

Western Digital (NASDAQ:WDC) announced its quarterly earnings data on Thursday. The data storage provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.23, Briefing.com reports. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the business earned ($1.97) EPS. The company’s revenue was up 48.9% on a year-over-year basis. 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 Price Performance

WDC traded up $3.13 during midday trading on Friday, reaching $69.45. 17,644,446 shares of the company’s stock were exchanged, compared to its average volume of 6,179,462. The business’s 50-day moving average price is $65.42 and its 200 day moving average price is $69.68. 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 stock has a market capitalization of $22.68 billion, a PE ratio of -13.97 and a beta of 1.39. Western Digital has a 1-year low of $35.62 and a 1-year high of $81.55.

Insider Activity

In other news, SVP Gene M. Zamiska sold 417 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the transaction, the senior vice president now owns 28,870 shares of the company’s stock, valued at $1,873,374.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total transaction of $27,059.13. Following the transaction, the senior vice president now owns 28,870 shares of the company’s stock, valued at $1,873,374.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Goeckeler sold 75,000 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the completion of the sale, the chief executive officer now directly owns 896,630 shares of the company’s stock, valued at $63,051,021.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,955 shares of company stock valued at $6,327,560 over the last 90 days. Insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on WDC. BNP Paribas cut their price target on shares of Western Digital from $95.00 to $90.00 in a research note on Thursday. The Goldman Sachs Group cut their price target on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday. Susquehanna raised their price objective on shares of Western Digital from $75.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday. StockNews.com raised shares of Western Digital from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. Finally, Benchmark reissued a “buy” rating and set a $92.00 price objective on shares of Western Digital in a research report on Friday. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.09.

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.