Western Digital Corporation [WDC] gain 34.97% so far this year. What now?

Western Digital Corporation [NASDAQ: WDC] gained 2.34% or 1.71 points to close at $74.76 with a heavy trading volume of 3642256 shares. The company report on May 26, 2021 that Western Digital Amps up Its WD_BLACK Gaming Portfolio With Three New SSD Solutions.

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New SSD storage drives deliver the speed and capacity gamers need for quick access to their favorite games.

Highlights.

It opened the trading session at $73.61, the shares rose to $75.06 and dropped to $73.11, the range by which the price of stock traded the whole day. The daily chart for WDC points out that the company has recorded 68.08% gains over the past six months. However, it is still -122.96% lower than its most recent low trading price.

If we look at the average trading volume of 4.94M shares, WDC reached to a volume of 3642256 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 $87.40 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 3.07, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 1.42. The Price to Book ratio for the last quarter was 2.30, with the Price to Cash per share for the same quarter was set at 8.85.

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 4.91. With this latest performance, WDC shares gained by 3.19% in over the last four-week period, additionally plugging by 68.08% over the last 6 months – not to mention a rise of 62.49% 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 57.62, with the RSI for the last a single of trading hit 59.74, and the three-weeks RSI is set at 56.54 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 69.84, while it was recorded at 73.40 for the last single week of trading, and 53.31 for the last 200 days.

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

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.

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

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%.

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

There are presently around $18,100 million, or 81.40% of WDC stock, in the hands of institutional investors. The top three institutional holders of WDC stocks are: VANGUARD GROUP INC with ownership of 32,766,367, which is approximately 1.35% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 23,095,896 shares of the stock with an approximate value of $1.73 billion in WDC stocks shares; and STATE STREET CORP, currently with $881.68 million in WDC stock with ownership of nearly -1.942% of the company’s market capitalization.

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321 institutional holders increased their position in Western Digital Corporation [NASDAQ:WDC] by around 26,120,264 shares. Additionally, 316 investors decreased positions by around 22,224,951 shares, while 96 investors held positions by with 193,756,712 shares. The mentioned changes placed institutional holdings at 242,101,927 shares, according to the latest SEC report filing. WDC stock had 114 new institutional investments in for a total of 5,456,763 shares, while 73 institutional investors sold positions of 4,495,065 shares during the same period.

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