Western Digital's stock price jumped over 5% due to a new $2 billion share repurchase program

From Nasdaq: 2025-05-16 01:53:00

Western Digital (NASDAQ: WDC) stock surged by over 5% in Tuesday’s trading and remains up by close to 40% over the past month. So what’s driving the stock higher? Western Digital announced a new $2 billion share repurchase program, reflecting strong confidence in its long-term outlook.
In its Q3 FY25 earnings report, Western Digital reported $2.3 billion in revenue, a 31% year-over-year increase. Non-GAAP EPS rose 15% to $1.36, with the Cloud segment driving 87% of total revenue. The company also issued positive guidance for the fiscal fourth quarter, projecting revenue of $2.45 billion and non-GAAP EPS of $1.45.
WDC stock has shown volatility over the past 4 years, with returns ranging from -52% to 66%. Trefis’ High Quality Portfolio, consisting of 30 stocks, has outperformed the S&P 500 with less volatility. Trefis values WDC stock at about $49 per share, in line with the current market price.



Read more at Nasdaq: What’s Behind the Jump in Western Digital’s Stock Price?