Western Digital Corporation [WDC] Is Currently 3.09 below its 200 Period Moving Avg: What Dose This Mean?

Western Digital Corporation [NASDAQ: WDC] jumped around 1.12 points on Friday, while shares priced at $37.37 at the close of the session, up 3.09%. The company report on September 3, 2020 that Western Digital Sets a New Standard in Data Protection with Ground-Breaking ArmorLock Security Platform.

Combining High-Grade Security, Simplicity, Performance and Reliability, New Platform and First ArmorLock Encrypted NVMe SSD Redefine Professional Workflows.

Underscoring its mission to enable the world to solve its biggest data challenges by building a data infrastructure with next-gen security, Western Digital (NASDAQ: WDC) today introduced the ArmorLock™ Security Platform. A data encryption platform that rethinks how data security should be done, the ArmorLock Security Platform was created to help with the diverse security demands of data-centric and content-critical storage use cases in industries as varied as finance, government, healthcare, IT enterprise, legal, and media and entertainment. As data security concerns continue to rise in visibility, Western Digital plans to apply the platform across a range of storage solutions.

Western Digital Corporation stock is now -41.12% down from its year-to-date (YTD) trading value. WDC Stock saw the intraday high of $37.81 and lowest of $36.26 per share. The company’s 52-week high price is 72.00, which means current price is +36.39% above from all time high which was touched on 01/23/20.

Compared to the average trading volume of 6.06M shares, WDC reached a trading volume of 6345200 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $51.49 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.

The Benchmark Company have made an estimate for Western Digital Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 06, 2020. While these analysts kept the previous recommendation, Cowen dropped their target price from $70 to $50. The new note on the price target was released on August 06, 2020, representing the official price target for Western Digital Corporation stock. Previously, the target price had yet another raise to $44, while Craig Hallum analysts kept a Hold rating on WDC stock.

The Average True Range (ATR) for Western Digital Corporation is set at 1.49, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 0.66. The Price to Book ratio for the last quarter was 1.17.

How has WDC stock performed recently?

Western Digital Corporation [WDC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.90. With this latest performance, WDC shares gained by 1.63% in over the last four-week period, additionally sinking by -10.64% over the last 6 months – not to mention a drop of -42.24% 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 48.82, with the RSI for the last a single of trading hit 52.65, and the three-weeks RSI is set at 47.28 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 39.62, while it was recorded at 36.96 for the last single week of trading, and 48.35 for the last 200 days.

Western Digital Corporation [WDC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Western Digital Corporation [WDC] shares currently have an operating margin of +3.26 and a Gross Margin at +23.66. Western Digital Corporation’s Net Margin is presently recorded at -1.49.

Return on Equity for this stock declined to -2.56, with Return on Assets sitting at -0.96.

Western Digital Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 2.10.

Earnings analysis for Western Digital Corporation [WDC]

With the latest financial reports released by the company, Western Digital Corporation posted 0.34/share EPS, while the average EPS was predicted by analysts to be reported at 0.3/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 13.30%. 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.

Insider trade positions for Western Digital Corporation [WDC]

There are presently around $8,886 million, or 80.50% of WDC stock, in the hands of institutional investors. The top three institutional holders of WDC stocks are: VANGUARD GROUP INC with ownership of 33,300,482, which is approximately -7.219% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 21,771,168 shares of the stock with an approximate value of $813.59 million in WDC stocks shares; and FMR LLC, currently with $497.96 million in WDC stock with ownership of nearly 51.419% of the company’s market capitalization.

Positions in Western Digital Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 299 institutional holders increased their position in Western Digital Corporation [NASDAQ:WDC] by around 28,232,536 shares. Additionally, 320 investors decreased positions by around 33,024,842 shares, while 79 investors held positions by with 176,538,938 shares. The mentioned changes placed institutional holdings at 237,796,316 shares, according to the latest SEC report filing. WDC stock had 72 new institutional investments in for a total of 2,326,643 shares, while 86 institutional investors sold positions of 6,671,788 shares during the same period.

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