Western Digital Corporation [WDC] fell -3.97% so far this year. What now?

Western Digital Corporation [NASDAQ: WDC] traded at a high on 01/27/21, posting a 2.17 gain after which it closed the day’ session at $53.19. The company report on January 26, 2021 that Western Digital and Qumulo Enable Massive Capacity and Scale for IHME COVID-19 Health Analytics and Vaccine Roll Out.

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IHME Utilizes Qumulo’s Scalable File Data Platform with Western Digital’s Ultrastar® HDDs and SSDs to Compute up to 2PB Per Day to Provide Public Pandemic Research, Statistics and Projections.

Architecting how data enables the world to solve its biggest problems, Western Digital Corp. (NASDAQ: WDC) announced that the Institute for Health Metrics and Evaluation (IHME), in partnership with Qumulo, a breakthrough leader in file data management for hybrid cloud environments, is employing Western Digital’s Ultrastar DC HC550 18TB HDDs and Ultrastar DC SN640 NVMeTM SSDs for ongoing COVID-19 research and vaccine rollout.

The results of the trading session contributed to over 8679548 shares changing hands. Over the past one week, the price volatility of Western Digital Corporation stands at 4.40% while the volatility over the past one month is 4.46%.

The market cap for WDC stock reached $17.08 billion, with 303.00 million shares outstanding and 302.67 million shares in the current float. Compared to the average trading volume of 4.56M shares, WDC reached a trading volume of 8679548 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 $55.15 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.

Wedbush have made an estimate for Western Digital Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 26, 2021. While these analysts kept the previous recommendation, Cowen raised their target price from $50 to $55. The new note on the price target was released on October 29, 2020, representing the official price target for Western Digital Corporation stock. Previously, the target price had yet another raise to $62, while Craig Hallum analysts kept a Buy rating on WDC stock.

The Average True Range (ATR) for Western Digital Corporation is set at 2.20, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 1.03. The Price to Book ratio for the last quarter was 1.68.

How has WDC stock performed recently?

Western Digital Corporation [WDC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.64. With this latest performance, WDC shares gained by 6.55% in over the last four-week period, additionally plugging by 24.13% over the last 6 months – not to mention a drop of -22.25% 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 56.53, with the RSI for the last a single of trading hit 57.83, and the three-weeks RSI is set at 56.62 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 49.72, while it was recorded at 52.15 for the last single week of trading, and 42.87 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 1.30 and a Current Ratio set at 2.00.

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 $12,496 million, or 80.20% 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 $1.17 billion in WDC stocks shares; and STATE STREET CORP, currently with $655.98 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 272 institutional holders increased their position in Western Digital Corporation [NASDAQ:WDC] by around 29,583,963 shares. Additionally, 305 investors decreased positions by around 29,686,467 shares, while 81 investors held positions by with 175,668,778 shares. The mentioned changes placed institutional holdings at 234,939,208 shares, according to the latest SEC report filing. WDC stock had 70 new institutional investments in for a total of 7,715,138 shares, while 94 institutional investors sold positions of 5,153,741 shares during the same period.

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