Morgan Stanley Rates Western Digital (WDC) buy, $650 Price Target

Morgan Stanley maintains its buy rating for Western Digital, targeting $650, a 12.90% downside from the current price.

By EarningsIQ Research Desk · Published Jun 15, 2026, 1:01 PM EDT · Updated Jun 22, 2026, 9:01 AM EDT

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Morgan Stanley rated Western Digital Corporation ($WDC) "buy" with a $650 price target on June 15, 2026.

Since the rating, $WDC is up 12.1% after 1 week, down 21.4% after 1 month and down 49.2% to date (from the $653.32 close on Jun 15, 2026).

WDC Western Digital Corporation

$332 +77.07% year to date

Daily close · Oct 16, 2026

Key Points

Morgan Stanley reiterated its buy rating for Western Digital, setting a price target of $650 on June 15, 2026.
Morgan Stanley's $650 price target implies 12.90% downside from Western Digital Corporation's ($WDC) current $746.23 share price.
Western Digital trades near $562.93, with a market cap of $194 billion and a P/E ratio of 33.67.
Insiders at Western Digital recently made planned and unplanned stock transactions, including sales by top executives.

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Morgan Stanley has reiterated its buy rating for Western Digital Corporation (NasdaqGS: WDC), maintaining a price target of $650. Analyst Erik Woodring made the announcement on June 15, 2026. This decision aligns with the firm's positive outlook on the company's future performance.

Other Institutional Activity in Western Digital

Several major funds have been active in Western Digital recently. BlackRock, Inc. increased its holdings by 259,704 shares, bringing its total to 35,769,222 shares valued at approximately $9.68 billion. On the other hand, FMR LLC reduced its position by 2,170,383 shares, now holding 31,623,418 shares worth around $8.55 billion. JPMorgan Chase & Co significantly boosted its stake by 3,216,183 shares, ending with 17,512,148 shares valued at about $4.41 billion. Meanwhile, Vanguard Portfolio Management LLC established a new position with 17,172,653 shares valued at $4.65 billion.

Western Digital Corporation Stock Up 105.0%

Shares of Western Digital (NasdaqGS: WDC) are trading near $562.93. The company boasts a market cap of approximately $194 billion and a P/E ratio of 33.67, with a forward P/E of 31.41. Its beta is 2.2, indicating higher volatility compared to the market. The stock's 52-week range has been between $56.27 and $602.54, with a 50-day moving average of $449.12 and a 200-day moving average of $253.77. The current ratio stands at 1.49, and the quick ratio is 1.107, while the debt-to-equity ratio is 17.81.

12-month forecast

$WDC price target

Western Digital Corporation daily closes and this analyst's $650 target. Not advice.

Recent Earnings

Western Digital reported revenue of $11.78 billion, reflecting a revenue growth of 45.5%. The company's net margin is 55.29%, with a return on equity of 85.92%. The next earnings report is scheduled for July 29, 2026.

Dividend

Western Digital offers an annual dividend rate of $0.60, yielding 0.11%. The dividend payout ratio is a low 2.69%, indicating room for potential increases in the future.

Insider Buying and Selling at Western Digital Corporation

Recent insider transactions at Western Digital include planned sales by Cole Martin of 4,000 shares on June 9, 2026, and Cynthia Tregillis, Chief Legal Officer, who sold 432 shares at $545.60 on June 5, 2026. Tregillis also sold 699 shares at $594.11 on June 3, 2026, and made a small purchase of 6 shares on the same day. Additionally, Vidyadhara Gubbi, Chief of Global Operations, sold 1,764 shares at $594.11 on June 3, 2026, while Brian Scott Davis, Chief Sales & Marketing Officer, bought 6 shares on June 3, 2026.

Analysts Set New Price Targets

On June 15, 2026, Morgan Stanley maintained its buy rating for Western Digital with a $650 price target. Other analysts have also shown confidence in the stock, with JP Morgan setting the same target of $650 on June 12, 2026, while Mizuho and Citigroup have higher targets of $685, reflecting their bullish outlook.

About Western Digital

Western Digital Corporation, based in San Jose, California, is a leading developer and manufacturer of data storage devices and solutions. Founded in 1970, the company operates across the globe, offering a range of products from internal hard disk drives to data center platforms. With approximately 40,000 employees, Western Digital is a key player in the technology sector, particularly in the computer hardware industry. Under the leadership of CEO Mr. Tiang Yew Tan, the company continues to innovate in data storage and related technologies.

Bottom Line

Morgan Stanley's reiteration of a buy rating and a $650 target price underscores confidence in Western Digital's potential. Investors keep a close watch on such analyst ratings as they provide insights into future performance. It's important to remember that these ratings are based on past data and projections, not guarantees of future results.