Western Digital (WDC) Receives a Rating Update from a Top Analyst

Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating on Western Digital yesterday and set a price target of $400.00.

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According to TipRanks, Rakesh is a top 100 analyst with an average return of 44.7% and a 59.72% success rate. Rakesh covers the Technology sector, focusing on stocks such as ARM Holdings PLC ADR, Micron, and IonQ.

Currently, the analyst consensus on Western Digital is a Strong Buy with an average price target of $331.56.

Based on Western Digital’s latest earnings release for the quarter ending January 2, the company reported a quarterly revenue of $3.02 billion and a net profit of $1.84 billion. In comparison, last year the company earned a revenue of $4.29 billion and had a net profit of $594 million

Based on the recent corporate insider activity of 112 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WDC in relation to earlier this year. Last month, Vidyadhara K Gubbi, the Chief of Global Operations of WDC sold 8,518.00 shares for a total of $2,174,815.76.