Western Digital Corporation [WDC] moved up 6.92: Why It’s Important

Western Digital Corporation [NASDAQ: WDC] price surged by 6.92 percent to reach at $4.62. The company report on March 17, 2021 that Western Digital Releases Its First 2-in-1 Flash Drive for Moving Content Seamlessly Between iPhone and USB Type-C™ Devices.

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SanDisk® iXpand® Flash Drive Luxe supports fast and convenient file transfer between devices, as well as automatic back-up capabilities2 on iPhone.


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Built for consumers who are searching for a stylish and reliable solution to share content across their compatible devices, including iPhone devices and Mac computers,1 Western Digital (NASDAQ: WDC) announced the company’s first flash drive with dual Lightning and USB Type-C connectors, the SanDisk® iXpand® Flash Drive Luxe. With both Lightning and USB Type-C connectors and an all-metal casing, the SanDisk iXpand Flash Drive Luxe provides a sleek way for users to seamlessly access and move files between iPhone, iPad Pro, Mac and other USB Type-C devices, including Android™ phones.1.

A sum of 7113698 shares traded at recent session while its average daily volume was at 5.11M shares. Western Digital Corporation shares reached a high of $71.59 and dropped to a low of $69.28 until finishing in the latest session at $71.37.

The one-year WDC stock forecast points to a potential upside of 7.77. The average equity rating for WDC stock is currently 2.20, trading closer to a bullish pattern in the stock market.

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 $77.38 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.

Goldman have made an estimate for Western Digital Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 05, 2021. While these analysts kept the previous recommendation, Susquehanna dropped their target price from $85 to $100. The new note on the price target was released on February 24, 2021, representing the official price target for Western Digital Corporation stock. On January 29, 2021, analysts increased their price target for WDC shares from 52 to 80.

The Average True Range (ATR) for Western Digital Corporation is set at 3.34, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 1.25. The Price to Book ratio for the last quarter was 2.21.

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 11.43. With this latest performance, WDC shares gained by 2.44% in over the last four-week period, additionally plugging by 95.27% over the last 6 months – not to mention a rise of 84.56% 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 59.36, with the RSI for the last a single of trading hit 62.50, and the three-weeks RSI is set at 58.68 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 64.46, while it was recorded at 67.24 for the last single week of trading, and 48.02 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 1.20 and a Current Ratio set at 2.00.

WDC Stock EPS

With the latest financial reports released by the company, Western Digital Corporation posted 0.85/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.

Western Digital Corporation [WDC] Insider Position Details

There are presently around $17,009 million, or 80.30% of WDC stock, in the hands of institutional investors. The top three institutional holders of WDC stocks are: VANGUARD GROUP INC with ownership of 32,329,856, which is approximately -0.501% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 22,218,786 shares of the stock with an approximate value of $1.59 billion in WDC stocks shares; and STATE STREET CORP, currently with $858.37 million in WDC stock with ownership of nearly -2.479% 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 May and at the time of the May reporting period, where 293 institutional holders increased their position in Western Digital Corporation [NASDAQ:WDC] by around 21,203,618 shares. Additionally, 303 investors decreased positions by around 18,403,704 shares, while 77 investors held positions by with 198,716,293 shares. The mentioned changes placed institutional holdings at 238,323,615 shares, according to the latest SEC report filing. WDC stock had 121 new institutional investments in for a total of 8,744,645 shares, while 58 institutional investors sold positions of 3,798,806 shares during the same period.

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