Fintel reports that on September 20, 2023, Exane BNP Paribas upgraded their outlook for Western Digital (NASDAQ:WDC) from Neutral to Outperform.
Analyst Price Forecast Suggests 7.83% Upside
As of August 31, 2023, the average one-year price target for Western Digital is 47.36. The forecasts range from a low of 31.31 to a high of $65.10. The average price target represents an increase of 7.83% from its latest reported closing price of 43.92.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Western Digital is 16,108MM, an increase of 30.77%. The projected annual non-GAAP EPS is 4.08.
What is the Fund Sentiment?
There are 1106 funds or institutions reporting positions in Western Digital. This is a decrease of 43 owner(s) or 3.74% in the last quarter. Average portfolio weight of all funds dedicated to WDC is 0.18%, an increase of 0.83%. Total shares owned by institutions decreased in the last three months by 1.67% to 298,439K shares. The put/call ratio of WDC is 1.04, indicating a bearish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 24,029K shares representing 7.46% ownership of the company. In it’s prior filing, the firm reported owning 22,595K shares, representing an increase of 5.97%. The firm increased its portfolio allocation in WDC by 124.88% over the last quarter.
Nomura Holdings holds 12,491K shares representing 3.88% ownership of the company. In it’s prior filing, the firm reported owning 10,606K shares, representing an increase of 15.09%. The firm increased its portfolio allocation in WDC by 21.43% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 9,970K shares representing 3.10% ownership of the company. In it’s prior filing, the firm reported owning 9,896K shares, representing an increase of 0.75%. The firm decreased its portfolio allocation in WDC by 6.40% over the last quarter.
Victory Capital Management holds 9,708K shares representing 3.02% ownership of the company. In it’s prior filing, the firm reported owning 9,427K shares, representing an increase of 2.89%. The firm increased its portfolio allocation in WDC by 1.09% over the last quarter.
TRMCX – T. Rowe Price Mid-Cap Value Fund holds 8,007K shares representing 2.49% ownership of the company. In it’s prior filing, the firm reported owning 7,967K shares, representing an increase of 0.50%. The firm decreased its portfolio allocation in WDC by 2.07% over the last quarter.
Western Digital Background Information
(This description is provided by the company.)
Western Digital creates environments for data to thrive. As a leader in data infrastructure, the company is driving the innovation needed to help customers capture, preserve, access and transform an ever-increasing diversity of data. Everywhere data lives, from advanced data centers to mobile sensors to personal devices, our industry-leading solutions deliver the possibilities of data.
This article originally appeared on Fintel
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