Western Digital Corporation [WDC] Revenue clocked in at $18.79 billion, down -45.50% YTD: What’s Next?

Western Digital Corporation [NASDAQ: WDC] closed the trading session at $35.54 on 09/20/22. The day’s price range saw the stock hit a low of $34.94, while the highest price level was $36.08. The company report on August 15, 2022 that Western Digital to Participate in Upcoming Investor Conferences.


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Western Digital Corp. (NASDAQ: WDC) today announced management participation in the upcoming investor conferences:.

Event: Deutsche Bank 2022 Technology ConferenceDate: Wednesday, August 31, 2022 at 8:15 a.m. PDT / 11:15 a.m EDT.

The stocks have a year to date performance of -45.50 percent and weekly performance of -9.61 percent. The stock has been moved at -27.40 percent over the last six months. The stock has performed -25.45 percent around the most recent 30 days and changed -23.57 percent over the most recent 3-months.

If compared to the average trading volume of 3.49M shares, WDC reached to a volume of 5319663 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 $59.03 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 2.00. 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.

Deutsche Bank have made an estimate for Western Digital Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 20, 2022. While these analysts kept the previous recommendation, Exane BNP Paribas raised their target price to Underperform. The new note on the price target was released on September 13, 2022, representing the official price target for Western Digital Corporation stock. Previously, the target price had yet another raise to $34, while The Benchmark Company analysts kept a Sell rating on WDC stock.

The Average True Range (ATR) for Western Digital Corporation is set at 1.68, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 0.60. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 7.29. Price to Free Cash Flow for WDC in the course of the last twelve months was 14.96 with Quick ratio for the last quarter at 1.10.

WDC stock trade performance evaluation

Western Digital Corporation [WDC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.61. With this latest performance, WDC shares dropped by -25.45% in over the last four-week period, additionally sinking by -27.40% over the last 6 months – not to mention a drop of -37.23% 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 24.73, with the RSI for the last a single of trading hit 19.06, and the three-weeks RSI is set at 29.22 for Western Digital Corporation [WDC]. The present Moving Average for the last 50 days of trading for this stock 45.59, while it was recorded at 37.10 for the last single week of trading, and 51.97 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 +14.52 and a Gross Margin at +32.83. Western Digital Corporation’s Net Margin is presently recorded at +7.98.

Return on Equity for this stock inclined to 13.08, with Return on Assets sitting at 5.73.

Western Digital Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.80.

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 22.80%.

Western Digital Corporation [WDC]: Insider Ownership positions

There are presently around $9,533 million, or 87.90% of WDC stock, in the hands of institutional investors. The top three institutional holders of WDC stocks are: VANGUARD GROUP INC with ownership of 36,273,152, which is approximately 3.855% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 25,643,596 shares of the stock with an approximate value of $911.37 million in WDC stocks shares; and STATE STREET CORP, currently with $442.94 million in WDC stock with ownership of nearly -4.101% 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 294 institutional holders increased their position in Western Digital Corporation [NASDAQ:WDC] by around 41,262,013 shares. Additionally, 296 investors decreased positions by around 24,717,754 shares, while 116 investors held positions by with 202,266,864 shares. The mentioned changes placed institutional holdings at 268,246,631 shares, according to the latest SEC report filing. WDC stock had 63 new institutional investments in for a total of 6,732,960 shares, while 76 institutional investors sold positions of 3,803,124 shares during the same period.

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