Western Digital Corporation [WDC] Revenue clocked in at $18.94 billion, down -23.97% YTD: What’s Next?

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Western Digital Corporation [NASDAQ: WDC] closed the trading session at $49.58 on 04/26/22. The day’s price range saw the stock hit a low of $49.37, while the highest price level was $51.09. The company report on April 14, 2022 that Kioxia and Western Digital Jointly Invest in New Flash Memory Manufacturing Facility in Yokkaichi Plant.

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Initial Production to Begin in the Fall of Calendar 2022.

Kioxia Corporation and Western Digital Corp. (NASDAQ: WDC) have finalized a formal agreement to jointly invest in the first phase of the Fab7 (Y7) manufacturing facility at Kioxia’s industry-leading Yokkaichi Plant in the Mie Prefecture of Japan. With construction of the first phase of Y7 completed, the joint-venture investment will enable initial production output beginning in the fall of this year. This marks another important milestone in the 20-year strategic joint-venture partnership between the two companies.

The stocks have a year to date performance of -23.97 percent and weekly performance of 1.29 percent. The stock has been moved at -12.76 percent over the last six months. The stock has performed -2.42 percent around the most recent 30 days and changed -10.00 percent over the most recent 3-months.

If compared to the average trading volume of 3.96M shares, WDC reached to a volume of 6114099 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]:

Susquehanna have made an estimate for Western Digital Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 14, 2022. While these analysts kept the previous recommendation, Mizuho raised their target price from $55 to $75. The new note on the price target was released on November 23, 2021, representing the official price target for Western Digital Corporation stock. Previously, the target price had yet another drop from $100 to $80, while Wells Fargo kept a Overweight rating on WDC stock. On October 29, 2021, analysts decreased their price target for WDC shares from 66 to 62.

The Average True Range (ATR) for Western Digital Corporation is set at 1.53, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 0.82. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 8.08. Price to Free Cash Flow for WDC in the course of the last twelve months was 13.20 with Quick ratio for the last quarter at 1.20.

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 1.29. With this latest performance, WDC shares dropped by -2.42% in over the last four-week period, additionally sinking by -12.76% over the last 6 months – not to mention a drop of -31.57% 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 51.71, with the RSI for the last a single of trading hit 53.68, and the three-weeks RSI is set at 49.74 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 49.71, while it was recorded at 49.96 for the last single week of trading, and 57.02 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 1.20 and a Current Ratio set at 1.90.

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 23.30%.

Western Digital Corporation [WDC]: Insider Ownership positions

There are presently around $12,897 million, or 83.70% of WDC stock, in the hands of institutional investors. The top three institutional holders of WDC stocks are: VANGUARD GROUP INC with ownership of 35,190,258, which is approximately 5.145% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 25,026,324 shares of the stock with an approximate value of $1.28 billion in WDC stocks shares; and STATE STREET CORP, currently with $643.05 million in WDC stock with ownership of nearly 4.862% of the company’s market capitalization.

352 institutional holders increased their position in Western Digital Corporation [NASDAQ:WDC] by around 21,108,787 shares. Additionally, 313 investors decreased positions by around 20,283,081 shares, while 96 investors held positions by with 211,446,937 shares. The mentioned changes placed institutional holdings at 252,838,805 shares, according to the latest SEC report filing. WDC stock had 128 new institutional investments in for a total of 5,560,924 shares, while 80 institutional investors sold positions of 6,924,092 shares during the same period.