Wall Street Analyst Upgrade Western Digital Corporation [WDC]. What else is Wall St. saying


Western Digital Corporation [NASDAQ: WDC] closed the trading session at $66.13 on 12/29/21. The day’s price range saw the stock hit a low of $64.30, while the highest price level was $67.24. The company report on December 10, 2021 that Western Digital Announces Closing of Debt Offering.

Western Digital Corporation (NASDAQ: WDC) (“Western Digital” or the “Company”) today announced the closing of its underwritten public offering of (i) $500,000,000 aggregate principal amount of 2.850% senior unsecured notes due 2029 and (ii) $500,000,000 aggregate principal amount of 3.100% senior unsecured notes due 2032. The net proceeds of the offering were approximately $988 million, after deducting underwriting discounts and commissions and other estimated offering expenses. Western Digital intends to use the net proceeds of the offering, together with available cash on hand, to refinance existing indebtedness and to pay fees and expenses in connection with the offering.

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On December 3, 2021, the Company received an investment grade corporate rating from Fitch. This marks the Company’s second investment grade corporate rating.

The stocks have a year to date performance of 19.39 percent and weekly performance of 12.05 percent. The stock has been moved at -7.08 percent over the last six months. The stock has performed 12.10 percent around the most recent 30 days and changed 16.63 percent over the most recent 3-months.

If compared to the average trading volume of 3.64M shares, WDC reached to a volume of 8980069 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 $75.09 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.

Mizuho have made an estimate for Western Digital Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 23, 2021. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $100 to $80. The new note on the price target was released on October 29, 2021, representing the official price target for Western Digital Corporation stock. Previously, the target price had yet another drop from $66 to $62, while UBS kept a Neutral rating on WDC stock. On October 29, 2021, analysts decreased their price target for WDC shares from 120 to 80.

The Average True Range (ATR) for Western Digital Corporation is set at 2.15, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 1.12. The Price to Book ratio for the last quarter was 1.80, with the Price to Cash per share for the same quarter was set at 10.81. Price to Free Cash Flow for WDC in the course of the last twelve months was 20.09 with Quick ratio for the last quarter at 1.30.

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 12.05. With this latest performance, WDC shares gained by 12.10% in over the last four-week period, additionally sinking by -7.08% over the last 6 months – not to mention a rise of 36.94% 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 72.64, with the RSI for the last a single of trading hit 80.94, and the three-weeks RSI is set at 66.88 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 57.51, while it was recorded at 62.41 for the last single week of trading, and 64.09 for the last 200 days.

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

Western Digital Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 2.10.

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%.

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