Western Digital Corporation [WDC] is 17.24% higher this YTD. Is it still time to buy?

Western Digital Corporation [NASDAQ: WDC] plunged by -$1.2 during the normal trading session on Wednesday and reaching a high of $66.20 during the day while it closed the day at $64.94. The company report on August 5, 2021 that Western Digital Reports Fourth Quarter and Fiscal Year 2021 Financial Results.

News Summary.

Fourth quarter revenue was $4.9 billion, up 15% year-over-year (YoY). Client Devices revenue increased 13%, Data Center Devices and Solutions revenue increased 6%, and Client Solutions revenue increased 42% YoY. Fiscal year 2021 revenue was $16.9 billion, up 1% YoY.

Western Digital Corporation stock has also gained 2.24% of its value over the past 7 days. However, WDC stock has declined by -5.31% in the 3 months of the year. Over the past six months meanwhile, it has gained 12.55% and gained 17.24% year-on date.

The market cap for WDC stock reached $19.76 billion, with 306.00 million shares outstanding and 304.82 million shares in the current float. Compared to the average trading volume of 3.81M shares, WDC reached a trading volume of 4914917 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $91.57 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 2.13, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 1.21. The Price to Book ratio for the last quarter was 2.00, with the Price to Cash per share for the same quarter was set at 8.99.

WDC stock trade performance evaluation

Western Digital Corporation [WDC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.24. With this latest performance, WDC shares dropped by -6.09% in over the last four-week period, additionally plugging by 12.55% over the last 6 months – not to mention a rise of 45.08% 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 44.28, with the RSI for the last a single of trading hit 46.70, and the three-weeks RSI is set at 44.00 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 69.92, while it was recorded at 65.03 for the last single week of trading, and 61.18 for the last 200 days.

Western Digital Corporation [WDC]: An insightful look at the core 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.

Earnings per share (EPS) analysis for Western Digital Corporation [WDC] stock

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 Ownership positions

There are presently around $15,687 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 $1.5 billion in WDC stocks shares; and STATE STREET CORP, currently with $765.87 million in WDC stock with ownership of nearly -1.942% 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 August and at the time of the August reporting period, where 320 institutional holders increased their position in Western Digital Corporation [NASDAQ:WDC] by around 23,282,896 shares. Additionally, 302 investors decreased positions by around 22,322,797 shares, while 105 investors held positions by with 195,952,264 shares. The mentioned changes placed institutional holdings at 241,557,957 shares, according to the latest SEC report filing. WDC stock had 107 new institutional investments in for a total of 5,180,984 shares, while 61 institutional investors sold positions of 4,258,355 shares during the same period.

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