Monday, January 25, 2021

Western Digital Corporation [WDC] Stock trading around $49.47 per share: What’s Next?

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Western Digital Corporation [NASDAQ: WDC] closed the trading session at $49.47 on 01/13/21. The day’s price range saw the stock hit a low of $48.62, while the highest price level was $49.75. The company report on January 12, 2021 that Western Digital to Announce Second Quarter Fiscal 2021 Financial Results on January 28, 2021.

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Western Digital Corp. (NASDAQ: WDC) plans to announce its second quarter fiscal 2021 financial results after the market closes on Thursday, January 28, 2021. The investment community conference call to discuss these results will be held that day at 1:30 p.m. Pacific / 4:30 p.m. Eastern. The live audio webcast and a webcast replay of the conference call will be available at investor.wdc.com.


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About Western Digital.

The stocks have a year to date performance of -10.69 percent and weekly performance of -7.38 percent. The stock has been moved at 12.25 percent over the last six months. The stock has performed -3.17 percent around the most recent 30 days and changed 30.70 percent over the most recent 3-months.

If compared to the average trading volume of 5.09M shares, WDC reached to a volume of 6428837 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $54.11 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 2.14, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 0.96. The Price to Book ratio for the last quarter was 1.57.

WDC stock trade performance evaluation

Western Digital Corporation [WDC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.38. With this latest performance, WDC shares dropped by -3.17% in over the last four-week period, additionally plugging by 12.25% over the last 6 months – not to mention a drop of -28.52% 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 47.11, with the RSI for the last a single of trading hit 41.81, and the three-weeks RSI is set at 50.48 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 47.47, while it was recorded at 51.50 for the last single week of trading, and 42.43 for the last 200 days.

Western Digital Corporation [WDC]: An insightful look at the core 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.

Earnings per share (EPS) analysis for Western Digital Corporation [WDC] stock

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 Ownership positions

There are presently around $11,510 million, or 79.40% 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 $1.08 billion in WDC stocks shares; and STATE STREET CORP, currently with $610.1 million in WDC stock with ownership of nearly -1.436% of the company’s market capitalization.

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Positions in Western Digital Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 268 institutional holders increased their position in Western Digital Corporation [NASDAQ:WDC] by around 28,644,868 shares. Additionally, 308 investors decreased positions by around 30,352,145 shares, while 80 investors held positions by with 173,665,000 shares. The mentioned changes placed institutional holdings at 232,662,013 shares, according to the latest SEC report filing. WDC stock had 64 new institutional investments in for a total of 6,999,504 shares, while 100 institutional investors sold positions of 5,675,061 shares during the same period.

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