Western Digital Corporation [NASDAQ: WDC] stock went on a downward path that fall over -1.97% on Tuesday, amounting to a one-week price increase of more than 3.51%. The company report on November 16, 2020 that New Special Edition WD_BLACK Drives From Western Digital Enable Gamers to Heed the Call of Duty.
Call of Duty®: Black Ops Cold War Gets Next-Level Performance with WD_BLACK Collector’s Edition Storage Products.
Western Digital (NASDAQ: WDC) is working with Call of Duty to reimagine three high-performance products from the WD_BLACK™ portfolio, bringing gamers three special edition storage drives that encapsulate the Call of Duty: Black Ops Cold War look and feel with the added bonus of in-game Call of Duty points.1 These three products include the WD_BLACK P10 Game Drive, WD_BLACK P50 Game Drive SSD and the recently announced WD_BLACK SN850 NVMe™ SSD featuring PCIe® Gen4 technology.*.
Over the last 12 months, WDC stock dropped by -13.71%. The one-year Western Digital Corporation stock forecast points to a potential upside of 15.94. The average equity rating for WDC stock is currently 2.20, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $12.32 billion, with 303.00 million shares outstanding and 302.69 million shares in the current float. Compared to the average trading volume of 6.08M shares, WDC stock reached a trading volume of 3658379 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $50.82 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 1.60, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 0.74. The Price to Book ratio for the last quarter was 1.35.
WDC Stock Performance Analysis:
Western Digital Corporation [WDC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.51. With this latest performance, WDC shares gained by 4.40% in over the last four-week period, additionally sinking by -0.60% over the last 6 months – not to mention a drop of -13.71% 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 61.39, with the RSI for the last a single of trading hit 63.16, and the three-weeks RSI is set at 58.64 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 38.77, while it was recorded at 41.54 for the last single week of trading, and 43.14 for the last 200 days.
Insight into Western Digital Corporation 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 1.30 and a Current Ratio set at 2.00.
WDC Stock EPS
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.
Western Digital Corporation [WDC] Insider Position Details
There are presently around $10,061 million, or 80.90% of WDC stock, in the hands of institutional investors. The top three institutional holders of WDC stocks are: VANGUARD GROUP INC with ownership of 32,492,550, which is approximately -2.426% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 21,903,825 shares of the stock with an approximate value of $935.73 million in WDC stocks shares; and STATE STREET CORP, currently with $526.86 million in WDC stock with ownership of nearly -1.436% 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 266 institutional holders increased their position in Western Digital Corporation [NASDAQ:WDC] by around 28,417,079 shares. Additionally, 315 investors decreased positions by around 30,534,862 shares, while 81 investors held positions by with 176,563,197 shares. The mentioned changes placed institutional holdings at 235,515,138 shares, according to the latest SEC report filing. WDC stock had 59 new institutional investments in for a total of 6,896,044 shares, while 102 institutional investors sold positions of 5,697,561 shares during the same period.