Fintel reports that on April 26, 2024, Benchmark upgraded their outlook for Western Digital (NasdaqGS:WDC) from Hold to Buy.
Analyst Price Forecast Suggests 20.22% Upside
As of April 17, 2024, the average one-year price target for Western Digital is 83.48. The forecasts range from a low of 65.65 to a high of $120.75. The average price target represents an increase of 20.22% from its latest reported closing price of 69.44.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Western Digital is 16,108MM, an increase of 35.24%. The projected annual non-GAAP EPS is 4.08.
What is the Fund Sentiment?
There are 1,208 funds or institutions reporting positions in Western Digital. This is an increase of 57 owner(s) or 4.95% in the last quarter. Average portfolio weight of all funds dedicated to WDC is 0.23%, an increase of 5.30%. Total shares owned by institutions increased in the last three months by 6.65% to 327,792K shares. 
The put/call ratio of WDC is 0.61, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 24,169K shares representing 7.40% ownership of the company. In its prior filing, the firm reported owning 26,151K shares , representing a decrease of 8.20%. The firm decreased its portfolio allocation in WDC by 2.74% over the last quarter.
Millennium Management holds 10,484K shares representing 3.21% ownership of the company. In its prior filing, the firm reported owning 6,566K shares , representing an increase of 37.36%. The firm increased its portfolio allocation in WDC by 57.08% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,228K shares representing 3.13% ownership of the company. In its prior filing, the firm reported owning 9,982K shares , representing an increase of 2.41%. The firm increased its portfolio allocation in WDC by 5.09% over the last quarter.
Nomura Holdings holds 8,772K shares representing 2.69% ownership of the company. In its prior filing, the firm reported owning 13,362K shares , representing a decrease of 52.33%. The firm decreased its portfolio allocation in WDC by 45.46% over the last quarter.
Victory Capital Management holds 8,358K shares representing 2.56% ownership of the company. In its prior filing, the firm reported owning 8,287K shares , representing an increase of 0.85%. The firm increased its portfolio allocation in WDC by 5.93% 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.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
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This story originally appeared on Fintel.
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