Western Digital Corporation [WDC] is -32.36% lower this YTD. Is it still time to buy?

Western Digital Corporation [NASDAQ: WDC] loss -0.05% on the last trading session, reaching $42.93 price per share at the time. Western Digital Corporation represents 299.00 million in outstanding shares, while the company has a total market value of $12.69 billion with the latest information. WDC stock price has been found in the range of $40.77 to $43.18.

If compared to the average trading volume of 6.61M shares, WDC reached a trading volume of 5775044 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Western Digital Corporation [WDC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WDC shares is $60.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WDC stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Rosenblatt have made an estimate for Western Digital Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 08, 2020. The new note on the price target was released on April 20, 2020, representing the official price target for Western Digital Corporation stock. Previously, the target price had yet another raise to $45, while Goldman analysts kept a Neutral rating on WDC stock. On March 02, 2020, analysts increased their price target for WDC shares from 63 to 73.

The Average True Range (ATR) for Western Digital Corporation is set at 2.32, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 0.79. The Price to Book ratio for the last quarter was 1.39.

Trading performance analysis for WDC stock

Western Digital Corporation [WDC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.54. With this latest performance, WDC shares gained by 6.42% in over the last four-week period, additionally sinking by -20.10% over the last 6 months – not to mention a rise of 18.17% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WDC stock in for the last two-week period is set at 47.26, with the RSI for the last a single of trading hit 42.50, and the three-weeks RSI is set at 47.90 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 42.95, while it was recorded at 44.58 for the last single week of trading, and 53.69 for the last 200 days.

Western Digital Corporation [WDC]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Western Digital Corporation [WDC] shares currently have an operating margin of +1.53 and a Gross Margin at +22.64. Western Digital Corporation’s Net Margin is presently recorded at -4.55.

Return on Total Capital for WDC is now 1.17, given the latest momentum, and Return on Invested Capital for the company is -3.53. Return on Equity for this stock declined to -7.01, with Return on Assets sitting at -2.71. When it comes to the capital structure of this company, Western Digital Corporation [WDC] has a Total Debt to Total Equity ratio set at 105.57. Additionally, WDC Total Debt to Total Capital is recorded at 51.35, with Total Debt to Total Assets ending up at 39.90. Long-Term Debt to Equity for the company is recorded at 102.80, with the Long-Term Debt to Total Capital now at 50.01.

Reflecting on the efficiency of the workforce at the company, Western Digital Corporation [WDC] managed to generate an average of -$12,201 per employee. Receivables Turnover for the company is 9.74 with a Total Asset Turnover recorded at a value of 0.60.Western Digital Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.90.

Western Digital Corporation [WDC]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Western Digital Corporation posted 0.17/share EPS, while the average EPS was predicted by analysts to be reported at 0.17/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WDC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Western Digital Corporation go to -13.80%.

An analysis of insider ownership at Western Digital Corporation [WDC]

There are presently around $10,424 million, or 83.30% of WDC stock, in the hands of institutional investors. The top three institutional holders of WDC stocks are: VANGUARD GROUP INC with ownership of 35,891,413, which is approximately 1.35% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 25,503,794 shares of the stock with an approximate value of $1.1 billion in WDC stocks shares; and STATE STREET CORP, currently with $532.77 million in WDC stock with ownership of nearly -5.356% of the company’s market capitalization.

Positions in Western Digital Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 291 institutional holders increased their position in Western Digital Corporation [NASDAQ:WDC] by around 23,624,185 shares. Additionally, 394 investors decreased positions by around 31,036,965 shares, while 85 investors held positions by with 188,034,017 shares. The mentioned changes placed institutional holdings at 242,695,167 shares, according to the latest SEC report filing. WDC stock had 76 new institutional investments in for a total of 4,484,949 shares, while 137 institutional investors sold positions of 5,075,095 shares during the same period.

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