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.
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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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