TD Cowen maintains Buy rating on Western Digital, $430 price target

Western Digital reported Q1 2027 adjusted EPS of $4.64, up 161% y-o-y, beating estimates. Revenue rose 55% to $4.38bn, driven by cloud demand. The company raised its dividend by 17% and provided strong Q2 guidance. Despite positive results, shares fell 2.8% due to sector concerns, according to Wedbush.

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TD Cowen reduced its price target for Western Digital (WDC) to $430 from $540, citing increased capital expenditures. The stock, trading at $353.12, has gained 182% over the past year. Analysts debate valuation multiples post-Toshiba developments. Western Digital reported strong Q3 results with $4.38B revenue and $4.64 EPS, exceeding expectations. Other analysts have mixed price target adjustments.

Western Digital (WDC) reported Q1 non-GAAP EPS of $4.64, beating estimates, with revenue up 55.5% YoY to $4.38B. Q2 guidance exceeds expectations, but shares fell due to AI funding and supply concerns. HDD profitability improved, with gross margin at 58.1%. Cloud services drove 88% of revenue. HAMR tech advancements are planned for 2027. Operating cash flow was $1.6B, supporting $1.38B in free cash flow and $1.1B in shareholder returns.

Western Digital (WDC) forecasts Q2 revenue growth of 66-72% YoY, with expected revenue of $5.1B. Adjusted EPS is projected at $5.80. Q1 results showed revenue of $4.38B, up 55% YoY, and adjusted EPS of $4.64, up 161% YoY. The company raised its dividend by 17% to $0.175 per share. Management cited strong demand and operational efficiency for the performance.

Western Digital reported Q1 2027 earnings of $4.64 per share, beating estimates and up 161% YoY. Revenue was $4.38B, up 55% YoY. The company increased its dividend by 17% and expects continued growth in Q2, with revenue guidance of $5.1B and EPS guidance of $5.8.