Western Digital Gains as Investors Reassess Strong Earnings and Outlook

Western Digital (WDC) is up 5.4% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is a continued rebound after Western Digital’s fiscal fourth-quarter results and first-quarter fiscal 2027 outlook showed stronger revenue, margins, and earnings power than the market had recently priced in. The move also appears consistent with improving sentiment around AI-linked storage demand and the company’s cloud and data-center exposure.

Details:

Western Digital’s fiscal third-quarter report set up a strong finish to fiscal 2026, including guidance for about $3.65 billion in fourth-quarter revenue, 51% to 52% non-GAAP gross margin, and roughly $3.25 in non-GAAP EPS.

Recent earnings disclosures for the August reporting cycle indicated fourth-quarter revenue of about $3.75 billion and non-GAAP EPS of about $3.56, suggesting the company outperformed the outlook it had previously given.

The company’s next-quarter outlook pointed to roughly $4.1 billion in revenue at the midpoint, alongside non-GAAP gross margin of 55% to 56%, reinforcing the view that pricing and demand remain favorable.

Wall Street sentiment had already been improving before and after the report, with several firms lifting price targets in recent weeks, which may have helped today’s buying continue.

Sources:

Western Digital, SEC, MarketBeat

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$WDC Insider Trading Activity

$WDC insiders have traded $WDC stock on the open market 128 times in the past 6 months. Of those trades, 0 have been purchases and 128 have been sales.

Here’s a breakdown of recent trading of $WDC stock by insiders over the last 6 months:

VIDYADHARA K GUBBI (Chief of Global Operations) has made 0 purchases and 5 sales selling 25,815 shares for an estimated $8,366,109.
IRVING TAN (Chief Executive Officer) has made 0 purchases and 9 sales selling 20,000 shares for an estimated $8,236,864.
MARTIN I COLE has made 0 purchases and 90 sales selling 14,000 shares for an estimated $5,489,883.
CYNTHIA L TREGILLIS (Chief Legal Officer & Corp Sec) has made 0 purchases and 11 sales selling 12,207 shares for an estimated $3,801,407.
BRIAN SCOTT DAVIS (Chief Sales & Mrktng Officer) has made 0 purchases and 12 sales selling 10,000 shares for an estimated $2,791,602.
BRUCE E KIDDOO sold 750 shares for an estimated $396,390

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$WDC Hedge Fund Activity

We have seen 1,002 institutional investors add shares of $WDC stock to their portfolio, and 691 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CAPITAL WORLD INVESTORS added 4,718,173 shares (+39.7%) to their portfolio in Q2 2026, for an estimated $3,013,591,458
BANK OF AMERICA CORP /DE/ removed 3,555,039 shares (-29.5%) from their portfolio in Q1 2026, for an estimated $961,602,499
BLACKROCK, INC. removed 2,815,609 shares (-7.9%) from their portfolio in Q2 2026, for an estimated $1,798,385,780
FMR LLC removed 2,170,383 shares (-6.4%) from their portfolio in Q1 2026, for an estimated $587,066,897
VALUE ALIGNED RESEARCH ADVISORS, LLC added 1,295,439 shares (+inf%) to their portfolio in Q1 2026, for an estimated $350,403,295
AMUNDI removed 1,244,834 shares (-40.7%) from their portfolio in Q2 2026, for an estimated $795,100,372
GEODE CAPITAL MANAGEMENT, LLC removed 1,065,573 shares (-11.2%) from their portfolio in Q2 2026, for an estimated $680,602,786

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$WDC Congressional Stock Trading

Members of Congress have traded $WDC stock 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $WDC stock by members of Congress over the last 6 months:

SENATOR ALAN ARMSTRONG purchased up to $15,000 on 03/27.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$WDC Analyst Ratings

Wall Street analysts have issued reports on $WDC in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Rosenblatt issued a "Buy" rating on 05/01/2026

To track analyst ratings and price targets for $WDC, check out Quiver Quantitative's $WDC forecast page.

$WDC Price Targets

Multiple analysts have issued price targets for $WDC recently. We have seen 14 analysts offer price targets for $WDC in the last 6 months, with a median target of $597.5.

Here are some recent targets:

Mehdi Hosseini from Susquehanna set a target price of $500.0 on 07/08/2026
Wamsi Mohan from B of A Securities set a target price of $732.0 on 07/01/2026
C.J. Muse from Cantor Fitzgerald set a target price of $900.0 on 06/29/2026
Erik Woodring from Morgan Stanley set a target price of $650.0 on 06/15/2026
Harlan Sur from JP Morgan set a target price of $650.0 on 06/12/2026
Vijay Rakesh from Mizuho set a target price of $685.0 on 06/08/2026
Asiya Merchant from Citigroup set a target price of $685.0 on 06/02/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.