Western Digital Corporation [WDC] fell -5.35% so far this year. What now?

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Western Digital Corporation [NASDAQ: WDC] traded at a high on 05/03/22, posting a 14.47 gain after which it closed the day’ session at $61.72. The company report on May 3, 2022 that Western Digital Comments on Letter from Elliott Management.

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Western Digital Corp. (“Western Digital”) (NASDAQ: WDC) today issued the following statement regarding a letter sent by Elliott Management to Western Digital’s Board of Directors:.

“Western Digital maintains an ongoing dialogue with our shareholders and values constructive input on our business. We agree that Western Digital is an excellent, yet undervalued, company with strong positions in our flash and HDD businesses and look forward to engaging with Elliott to discuss their views. Our Board of Directors is committed to acting in the best interests of all our shareholders and will carefully consider Elliott’s ideas.”.

The results of the trading session contributed to over 21957645 shares changing hands. Over the past one week, the price volatility of Western Digital Corporation stands at 4.36% while the volatility over the past one month is 3.24%.

The market cap for WDC stock reached $19.15 billion, with 312.00 million shares outstanding and 311.91 million shares in the current float. Compared to the average trading volume of 3.71M shares, WDC reached a trading volume of 21957645 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 2.21, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 1.01. The Price to Book ratio for the last quarter was 1.60, with the Price to Cash per share for the same quarter was set at 8.16. Price to Free Cash Flow for WDC in the course of the last twelve months was 19.11 with Quick ratio for the last quarter at 1.20.

How has WDC stock performed recently?

Western Digital Corporation [WDC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.49. With this latest performance, WDC shares gained by 27.55% in over the last four-week period, additionally plugging by 13.92% over the last 6 months – not to mention a drop of -8.26% 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 78.16, with the RSI for the last a single of trading hit 85.78, and the three-weeks RSI is set at 71.30 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 49.60, while it was recorded at 54.27 for the last single week of trading, and 56.71 for the last 200 days.

Western Digital Corporation [WDC]: Deeper insight into the fundamentals

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 1.20 and a Current Ratio set at 1.90.

Earnings analysis for Western Digital Corporation [WDC]

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 22.80%.

Insider trade positions for Western Digital Corporation [WDC]

There are presently around $13,656 million, or 83.30% of WDC stock, in the hands of institutional investors. The top three institutional holders of WDC stocks are: VANGUARD GROUP INC with ownership of 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 $1.35 billion in WDC stocks shares; and STATE STREET CORP, currently with $679.73 million in WDC stock with ownership of nearly 4.862% of the company’s market capitalization.

Positions in Western Digital Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 331 institutional holders increased their position in Western Digital Corporation [NASDAQ:WDC] by around 21,185,213 shares. Additionally, 328 investors decreased positions by around 20,107,618 shares, while 101 investors held positions by with 211,971,968 shares. The mentioned changes placed institutional holdings at 253,264,799 shares, according to the latest SEC report filing. WDC stock had 109 new institutional investments in for a total of 5,472,539 shares, while 92 institutional investors sold positions of 6,869,378 shares during the same period.