Western Digital Likely To Report Lower Q1 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Core Insights - Western Digital Corporation is set to release its first-quarter earnings results on October 30, with analysts expecting earnings of $1.58 per share, a decrease from $1.78 per share in the same period last year [1] - The consensus estimate for quarterly revenue is $2.73 billion, down from $4.09 billion a year earlier [1] Financial Performance - On July 30, Western Digital reported better-than-expected fourth-quarter results and provided first-quarter guidance that exceeded estimates [2] - Following the positive fourth-quarter results, Western Digital shares increased by 13.2%, closing at $141.38 [2] Analyst Ratings - UBS analyst Timothy Arcuri maintained a Neutral rating and raised the price target from $85 to $135 [4] - Mizuho analyst Vijay Rakesh maintained an Outperform rating and increased the price target from $120 to $160 [4] - Loop Capital analyst Ananda Baruah maintained a Buy rating and raised the price target from $92 to $150 [4] - Wedbush analyst Matt Bryson maintained an Outperform rating and increased the price target from $90 to $135 [4] - Citigroup analyst Asiya Merchant maintained a Buy rating and raised the price target from $110 to $135 [4]