B of A Securities Reiterates Buy Rating on Western Digital
B of A Securities keeps its buy rating on Western Digital with a $732 price target, a 23.33% upside from the current price.
Key Points
- B of A Securities reiterated its buy rating on Western Digital Corporation (WDC) with a price target of $732 on July 1, 2026.
- B of A Securities's $732 price target implies 23.33% upside from Western Digital Corporation's ($WDC) current $593.52 share price.
- Western Digital's shares traded at $641.06 on Wednesday, with a market cap of $220.16 billion and a P/E ratio of 38.27.
- Peers like BlackRock and JPMorgan adjusted their positions in Western Digital, while insider actions included recent sales by key executives.
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B of A Securities has reiterated its buy rating for Western Digital Corporation (NasdaqGS: WDC) with a price target of $732. This update was made by analyst Wamsi Mohan on July 1, 2026. Western Digital shares were trading at around $641.06 on Wednesday.
B of A Securities vs. the S&P 500
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Other Institutional Activity in Western Digital
Several major funds adjusted their holdings in Western Digital recently. BlackRock, Inc. increased its stake by 259,704 shares, bringing its total to 35,769,222 shares valued at approximately $9.68 billion, a 0.7% increase. In contrast, FMR LLC reduced its holdings by 2,170,383 shares, now holding 31,623,418 shares worth about $8.55 billion, marking a 6.4% decrease. Vanguard Capital Management LLC and Vanguard Portfolio Management LLC both opened new positions, holding 22,034,861 and 17,172,653 shares respectively. Meanwhile, JPMorgan Chase & Co boosted its position by 3,216,183 shares, a 22.5% increase, totaling 17,512,148 shares valued at $4.41 billion.
Western Digital Corporation Stock Up 29.2%
Shares of Western Digital Corporation (NasdaqGS: WDC) traded near $641.06 on Wednesday. The company has a market capitalization of approximately $220.16 billion and a P/E ratio of 38.27. Its forward P/E stands at 35.36. The stock's 52-week range is between $62.94 and $799.87, with a 50-day moving average of $516.71 and a 200-day moving average of $283.16. Western Digital has a beta of 2.2, indicating higher volatility compared to the market.
$WDC price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Western Digital reported revenue of $11.78 billion, with a growth rate of 45.5%. The company's net margin is 55.29%, and it achieved a return on equity of 85.92%. The next earnings report is scheduled for July 29, 2026.
Dividend
Western Digital offers an annual dividend rate of $0.60, yielding 0.09% with a payout ratio of 2.69%.
Insider Buying and Selling at Western Digital Corporation
Recent insider transactions include sales by CEO Irving Tan, who sold 1,090 shares at an average price of $746.23 on June 20, 2026. Chief Sales and Marketing Officer Brian Scott Davis sold 961 shares at the same price on the same day.
Analysts Set New Price Targets
On July 1, 2026, B of A Securities maintained a buy rating on Western Digital with a $732 price target. Cantor Fitzgerald also maintained a buy rating with a $900 target on June 29. Other firms like Morgan Stanley and JP Morgan have kept their buy ratings with targets of $650.
About Western Digital Corporation
Western Digital Corporation, headquartered in San Jose, California, develops and sells data storage devices and solutions. It specializes in hard disk drives (HDDs) and offers products ranging from internal and external drives to data center platforms. The company operates globally and is led by CEO Tiang Yew Tan, with a workforce of 40,000 employees.
Bottom Line
B of A Securities' reiterated buy rating and price target for Western Digital reflect confidence in the company's potential. Investors often track such analyst updates as signals of market sentiment. It's important to note that these ratings are based on past data and may not reflect current market conditions.
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