Western Digital Corporation [WDC] gain 21.47% so far this year. What now?

Western Digital Corporation [NASDAQ: WDC] price plunged by -4.05 percent to reach at -$2.84. The company report on April 30, 2021 that Western Digital Reports Fiscal Third Quarter 2021 Financial Results.

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News Summary.

Third quarter revenue was $4.1 billion, down 1% year-over-year (YoY). Client Devices revenue increased 10%, Data Center Devices and Solutions revenue declined 19%, and Client Solutions revenue increased 8% YoY.

A sum of 6547238 shares traded at recent session while its average daily volume was at 4.70M shares. Western Digital Corporation shares reached a high of $69.4657 and dropped to a low of $65.905 until finishing in the latest session at $67.28.

The one-year WDC stock forecast points to a potential upside of 15.88. 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 $79.98 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 2.69, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 1.27. The Price to Book ratio for the last quarter was 2.09.

WDC Stock Performance Analysis:

Western Digital Corporation [WDC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.14. With this latest performance, WDC shares dropped by -6.61% in over the last four-week period, additionally plugging by 78.32% over the last 6 months – not to mention a rise of 69.60% 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 44.49, with the RSI for the last a single of trading hit 39.56, and the three-weeks RSI is set at 47.72 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 69.04, while it was recorded at 69.95 for the last single week of trading, and 51.02 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 1.23/share EPS, while the average EPS was predicted by analysts to be reported at 1.22/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.80%. 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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Western Digital Corporation go to 47.80%.

Western Digital Corporation [WDC] Insider Position Details

There are presently around $16,690 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 0.30% of the total institutional ownership; BLACKROCK INC., holding 22,218,786 shares of the stock with an approximate value of $1.56 billion in WDC stocks shares; and STATE STREET CORP, currently with $843.34 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 April and at the time of the April reporting period, where 306 institutional holders increased their position in Western Digital Corporation [NASDAQ:WDC] by around 19,955,977 shares. Additionally, 299 investors decreased positions by around 19,513,022 shares, while 78 investors held positions by with 198,547,455 shares. The mentioned changes placed institutional holdings at 238,016,454 shares, according to the latest SEC report filing. WDC stock had 116 new institutional investments in for a total of 8,023,124 shares, while 66 institutional investors sold positions of 4,012,848 shares during the same period.

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