Western Digital Analysts Boost Their Forecasts After Better-Than-Expected Q1 Results

Core Insights - Western Digital Corp. reported better-than-expected first-quarter financial results with earnings of $1.78 per share, surpassing the analyst consensus estimate of $1.58 per share, and quarterly sales of $2.818 billion, exceeding the estimate of $2.725 billion [1][2] Financial Performance - The company expects fiscal second-quarter revenue to be between $2.8 billion and $3 billion, compared to Benzinga Pro estimates of $2.82 billion [2] - Adjusted earnings for the second quarter are anticipated to be between $1.73 and $2.03 per share, against estimates of $1.71 per share [2] Market Reaction - Following the earnings announcement, Western Digital shares fell by 2.3%, closing at $138.13 [3] Analyst Ratings - B of A Securities analyst Wamsi Mohan maintained a Buy rating on Western Digital and raised the price target from $145 to $170 [5] - Mizuho analyst Vijay Rakesh also maintained an Outperform rating, increasing the price target from $160 to $180 [5]