Western Digital Corporation [WDC] is 15.46% higher this YTD. Is it still time to buy?

Western Digital Corporation [NASDAQ: WDC] gained 5.90% or 3.57 points to close at $63.96 with a heavy trading volume of 7137129 shares. The company report on February 4, 2021 that Western Digital to Participate in Upcoming Investor Conferences.

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Western Digital Corp. (NASDAQ: WDC) announced management participation in the upcoming investor conferences:.


It opened the trading session at $62.76, the shares rose to $64.74 and dropped to $62.07, the range by which the price of stock traded the whole day. The daily chart for WDC points out that the company has recorded 73.93% gains over the past six months. However, it is still -133.43% lower than its most recent low trading price.

If we look at the average trading volume of 4.67M shares, WDC reached to a volume of 7137129 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $63.92 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.

Summit Insights have made an estimate for Western Digital Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 29, 2021. While these analysts kept the previous recommendation, Evercore ISI raised their target price from $52 to $80. The new note on the price target was released on January 29, 2021, representing the official price target for Western Digital Corporation stock. Previously, the target price had yet another raise from $62 to $65, while Cowen kept a Outperform rating on WDC stock. On January 26, 2021, analysts increased their price target for WDC shares from 52 to 60.

The Average True Range (ATR) for Western Digital Corporation is set at 2.41, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 1.18. The Price to Book ratio for the last quarter was 2.02.

Trading performance analysis for WDC stock

Western Digital Corporation [WDC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.92. With this latest performance, WDC shares gained by 28.17% in over the last four-week period, additionally plugging by 73.93% over the last 6 months – not to mention a drop of -9.09% 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 72.72, with the RSI for the last a single of trading hit 76.91, and the three-weeks RSI is set at 69.61 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 53.08, while it was recorded at 61.58 for the last single week of trading, and 43.84 for the last 200 days.

Western Digital Corporation [WDC]: A deeper dive into fundamental analysis

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.

Western Digital Corporation [WDC]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Western Digital Corporation posted 0.85/share EPS, while the average EPS was predicted by analysts to be reported at 0.93/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -8.60%. 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.

An analysis of insider ownership at Western Digital Corporation [WDC]

There are presently around $14,643 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 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 22,218,786 shares of the stock with an approximate value of $1.42 billion in WDC stocks shares; and STATE STREET CORP, currently with $788.74 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 264 institutional holders increased their position in Western Digital Corporation [NASDAQ:WDC] by around 19,826,663 shares. Additionally, 303 investors decreased positions by around 19,943,389 shares, while 86 investors held positions by with 189,188,492 shares. The mentioned changes placed institutional holdings at 228,958,544 shares, according to the latest SEC report filing. WDC stock had 82 new institutional investments in for a total of 5,090,565 shares, while 80 institutional investors sold positions of 5,300,989 shares during the same period.

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