Rosenblatt Cuts Western Digital (WDC) Price Target to $650

On October 23, 2026, Rosenblatt reaffirmed its Buy rating on Western Digital Corporation WDC while lowering its price target to $650.00 from $800.00. The research note provides a forward-looking perspective on the computer hardware maker as broader market coverage shifts.

WDC Western Digital Corporation

$354.19 ▲ +88.90% year to date

1M 3M YTD

Daily close · Oct 22, 2026

Rosenblatt's Call on Western Digital Corporation

In its October 23 research note, Rosenblatt kept its Buy rating intact while reducing the target from the prior level of $800.00. Several other firms updated views around the same date, including Morgan Stanley moving its target to $668.00 from $643.00 and Cantor Fitzgerald adjusting its target to $625.00 from $900.00.

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. Meanwhile, SBI Securities reduced its stake by 5,020 shares, finishing with 5,091 shares valued at about $2,313,656.

Western Digital Corporation Stock Down 6.5%

Western Digital shares recently traded around $353.91 as of October 23, 2026, sitting close to the closing price of $354.19 recorded on October 22. The stock trades below its 50-day moving average of $437.87 and its 200-day moving average of $413.26. The recent price is well below the 52-week high of $799.87 and above the 52-week low of $121.72.

Recent Earnings

Western Digital reported trailing twelve month revenue of $12.92 billion alongside earnings of $26.92 per share. The company posted a net profit margin of 72.9% and a return on equity of 130.9%.

Dividend

The company distributes an annual dividend rate of $0.60 per share translating to a dividend yield of 0.16% with a payout ratio of 1.9%.

Insider Buying and Selling at Western Digital Corporation

Company insiders completed multiple transactions ahead of the analyst update. On September 4, 2026, officers Cynthia Lock Tregillis and Vidyadhara K Gubbi sold shares, while Chief Legal Officer Cynthia L Tregillis sold 807 shares on October 21, 2026, under a planned arrangement.

Analysts Set New Price Targets

Wall Street firms updated their views on the stock around the same time. On October 20, Morgan Stanley maintained an Overweight rating with a $643.00 target. B of A Securities maintained a Buy rating on October 21 while raising its target to $800.00 from $720.00. Across 24 analyst opinions, the stock carries a consensus recommendation key of strong buy and a mean price target of $654.00.

About Western Digital Corporation

Western Digital Corporation designs and builds data storage devices and hardware solutions utilizing hard disk drive technology. The firm serves customers across Asia, Europe, the Middle East, Africa, and the United States with internal drives, enterprise data center platforms, and portable consumer solutions.

Bottom Line

Rosenblatt's decision to lower its price target while keeping a Buy rating highlights shifting expectations among major financial firms. Investors continue to monitor upcoming earnings reports and institutional filing updates for further direction.