Western Digital Corporation [NASDAQ: WDC] loss -2.78% on the last trading session, reaching $56.70 price per share at the time. The company report on September 27, 2021 that The World Economic Forum Welcomes Western Digital to Prestigious Global Lighthouse Network.
Western Digital’s smart facilities in Malaysia and Thailand are the first Lighthouses to be accepted in these countries.
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Award recognizes leadership in scaling innovation with next-gen manufacturing technologies.
Western Digital Corporation represents 306.45 million in outstanding shares, while the company has a total market value of $17.37 billion with the latest information. WDC stock price has been found in the range of $56.60 to $58.45.
If compared to the average trading volume of 3.94M shares, WDC reached a trading volume of 3612579 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 $92.88 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 Hold, with their previous recommendation back on August 05, 2021. While these analysts kept the previous recommendation, Goldman raised their target price from $56 to $85. The new note on the price target was released on March 05, 2021, representing the official price target for Western Digital Corporation stock. Previously, the target price had yet another raise from $85 to $100, while Susquehanna kept a Positive rating on WDC stock.
The Average True Range (ATR) for Western Digital Corporation is set at 2.08, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 1.03. The Price to Book ratio for the last quarter was 1.61, with the Price to Cash per share for the same quarter was set at 11.00. Price to Free Cash Flow for WDC in the course of the last twelve months was 23.10 with Quick ratio for the last quarter at 1.30.
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 0.21. With this latest performance, WDC shares dropped by -8.65% in over the last four-week period, additionally sinking by -15.06% over the last 6 months – not to mention a rise of 44.20% 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 40.61, with the RSI for the last a single of trading hit 39.91, and the three-weeks RSI is set at 41.16 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 61.58, while it was recorded at 57.90 for the last single week of trading, and 64.58 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 +7.39 and a Gross Margin at +27.17. Western Digital Corporation’s Net Margin is presently recorded at +4.85.
Return on Total Capital for WDC is now 6.40, given the latest momentum, and Return on Invested Capital for the company is 4.27. Return on Equity for this stock inclined to 8.10, with Return on Assets sitting at 3.17. When it comes to the capital structure of this company, Western Digital Corporation [WDC] has a Total Debt to Total Equity ratio set at 83.59. Additionally, WDC Total Debt to Total Capital is recorded at 45.53, with Total Debt to Total Assets ending up at 34.30. Long-Term Debt to Equity for the company is recorded at 80.94, with the Long-Term Debt to Total Capital now at 44.09.
Reflecting on the efficiency of the workforce at the company, Western Digital Corporation [WDC] managed to generate an average of $12,515 per employee. Receivables Turnover for the company is 7.30 with a Total Asset Turnover recorded at a value of 0.65.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
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 $13,980 million, or 82.30% of WDC stock, in the hands of institutional investors. The top three institutional holders of WDC stocks are: VANGUARD GROUP INC with ownership of 33,024,507, which is approximately 0.788% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 23,554,055 shares of the stock with an approximate value of $1.34 billion in WDC stocks shares; and STATE STREET CORP, currently with $674.6 million in WDC stock with ownership of nearly 0.883% of the company’s market capitalization.
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 337 institutional holders increased their position in Western Digital Corporation [NASDAQ:WDC] by around 21,514,052 shares. Additionally, 305 investors decreased positions by around 16,962,815 shares, while 111 investors held positions by with 208,085,885 shares. The mentioned changes placed institutional holdings at 246,562,752 shares, according to the latest SEC report filing. WDC stock had 92 new institutional investments in for a total of 6,806,698 shares, while 72 institutional investors sold positions of 3,210,251 shares during the same period.