Morgan Stanley Raises Western Digital (WDC) Price Target to $668

On October 23, 2026, Morgan Stanley reiterated its Overweight rating on Western Digital Corporation (NasdaqGS: WDC), while raising its price target on the data storage provider. The update comes directly from the firm's research note issued to clients on that date.

WDC Western Digital Corporation

$354.19 ▲ +88.90% year to date

1M 3M YTD

Daily close · Oct 22, 2026

Morgan Stanley's Call on Western Digital Corporation

In its research note on October 23, 2026, Morgan Stanley kept an Overweight rating on Western Digital Corporation and lifted its price target from $643.00 to $668.00. Other firms have also adjusted their views on the stock recently. On October 20, 2026, Morgan Stanley maintained an Overweight rating with a $643.00 target. B of A Securities maintained a Buy rating with an $800.00 target on October 21, 2026. On October 23, 2026, Rosenblatt maintained a Buy rating and lowered its target from $800.00 to $650.00. On the same day, Cantor Fitzgerald maintained an Overweight rating while cutting its target from $900.00 to $625.00. Across Wall Street, the stock carries a consensus strong buy rating with a mean price target of $654.00 based on 24 analyst opinions.

Other Institutional Activity in Western Digital Corporation

RMR Wealth Builders grew its holdings by 2,550 shares, ending with 9,160 shares worth about $4,162,724.00.

Western Digital Corporation Stock Down 6.5%

Western Digital Corporation recently traded around $353.91 as of October 23, 2026, down about 0.1% from its previous close of $354.19 on October 22, 2026. The stock trades below its 50-day moving average of $437.87 and below its 200-day moving average of $413.26. Over the past 52 weeks, shares have reached a high of $799.87 and a low of $121.72.

Recent Earnings

Western Digital Corporation generated $12,919,000,064.00 in revenue over the trailing twelve months, with earnings of $26.92 per share. The company posted a net margin of 72.9% and a return on equity of 130.9%.

Dividend

Western Digital Corporation pays an annual dividend rate of $0.60 per share, yielding 0.16% with a payout ratio of 1.9%.

Insider Buying and Selling at Western Digital Corporation

Insiders have transacted in company shares ahead of the recent updates. On September 4, 2026, officer Cynthia Lock Tregillis sold 432 shares at $451.20 for $194,918.00. Officer Vidyadhara K Gubbi sold 1,795 shares on the same day at $459.87 for $825,472.00. Later, on October 21, 2026, Chief Legal Officer and Corporate Secretary Cynthia L Tregillis sold 807 shares at $380.00 under a planned transaction worth $306,660.00. Cynthia Lock Tregillis also sold 807 shares at $380.00 for $306,660.00 on October 21, 2026.

About Western Digital Corporation

Headquartered in San Jose, California, Western Digital Corporation develops and manufactures data storage devices and hard disk drive technologies for customers around the globe. The company provides internal drives, data center solutions, and portable storage products.

Bottom Line

Morgan Stanley's updated price target highlights ongoing evaluation by major financial institutions as market conditions shift. Investors will continue to monitor upcoming earnings reports and filing updates for further direction.