Friday, January 22, 2021

Market cap of Western Digital Corporation [WDC] reaches 11.38B – now what?

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Western Digital Corporation [NASDAQ: WDC] slipped around -0.7 points on Monday, while shares priced at $37.03 at the close of the session, down -1.86%. The company report on October 29, 2020 that Western Digital Reports Fiscal First Quarter 2021 Financial Results.

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First quarter revenue was $3.9 billion, down 3% year-over-year (YoY). Client Devices increased 20%, Data Center Devices and Solutions revenue declined 26%, and Client Solutions declined 5% YoY.

Western Digital Corporation stock is now -41.66% down from its year-to-date (YTD) trading value. WDC Stock saw the intraday high of $38.09 and lowest of $36.59 per share. The company’s 52-week high price is 72.00, which means current price is +35.15% above from all time high which was touched on 01/23/20.

Compared to the average trading volume of 6.79M shares, WDC reached a trading volume of 5397414 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 $51.32 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.

Cowen have made an estimate for Western Digital Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 29, 2020. The new note on the price target was released on September 23, 2020, representing the official price target for Western Digital Corporation stock. On August 06, 2020, analysts decreased their price target for WDC shares from 60 to 52.

The Average True Range (ATR) for Western Digital Corporation is set at 1.47, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 0.68. The Price to Book ratio for the last quarter was 1.16.

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 -8.56. With this latest performance, WDC shares gained by 2.98% in over the last four-week period, additionally sinking by -8.19% over the last 6 months – not to mention a drop of -31.21% 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 41.52, with the RSI for the last a single of trading hit 34.52, and the three-weeks RSI is set at 44.71 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 37.94, while it was recorded at 38.40 for the last single week of trading, and 44.66 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 Total Capital for WDC is now 2.73, given the latest momentum, and Return on Invested Capital for the company is -1.27. Return on Equity for this stock declined to -2.56, with Return on Assets sitting at -0.96. When it comes to the capital structure of this company, Western Digital Corporation [WDC] has a Total Debt to Total Equity ratio set at 102.82. Additionally, WDC Total Debt to Total Capital is recorded at 50.69, with Total Debt to Total Assets ending up at 38.27. Long-Term Debt to Equity for the company is recorded at 99.45, with the Long-Term Debt to Total Capital now at 49.03.

Reflecting on the efficiency of the workforce at the company, Western Digital Corporation [WDC] managed to generate an average of -$3,918 per employee. Receivables Turnover for the company is 9.34 with a Total Asset Turnover recorded at a value of 0.64.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 0.62/share EPS, while the average EPS was predicted by analysts to be reported at 0.58/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.90%. 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 $8,929 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 0.40% of the total institutional ownership; BLACKROCK INC., holding 21,771,168 shares of the stock with an approximate value of $821.43 million in WDC stocks shares; and FMR LLC, currently with $502.76 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 October and at the time of the October reporting period, where 282 institutional holders increased their position in Western Digital Corporation [NASDAQ:WDC] by around 27,706,543 shares. Additionally, 309 investors decreased positions by around 33,626,015 shares, while 80 investors held positions by with 175,313,934 shares. The mentioned changes placed institutional holdings at 236,646,492 shares, according to the latest SEC report filing. WDC stock had 59 new institutional investments in for a total of 1,472,265 shares, while 93 institutional investors sold positions of 7,455,984 shares during the same period.

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