Western Digital Corp. [WDC] Is Currently 0.35 below its 200 Period Moving Avg: What Does This Mean?

Western Digital Corp. [NASDAQ: WDC] traded at a high on 11/15/23, posting a 0.35 gain after which it closed the day’ session at $46.03. The company report on November 10, 2023 at 5:00 PM that Western Digital to Participate in Upcoming Investor Conferences.

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

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Event: Wells Fargo 7th Annual TMT SummitDate: Tuesday, November 28, 2023 at 1:30 p.m. PT / 4:30 p.m. ET.

The results of the trading session contributed to over 3624532 shares changing hands. Over the past one week, the price volatility of Western Digital Corp. stands at 2.58% while the volatility over the past one month is 4.17%.

The market cap for WDC stock reached $14.92 billion, with 324.24 million shares outstanding and 322.48 million shares in the current float. Compared to the average trading volume of 4.50M shares, WDC reached a trading volume of 3624532 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 Corp. [WDC]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WDC shares is $50.79 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 1.88. 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.

Fox Advisors have made an estimate for Western Digital Corp. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 31, 2023.

The Average True Range (ATR) for Western Digital Corp. is set at 1.61, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 1.32. The Price to Book ratio for the last quarter was 1.47, with the Price to Cash per share for the same quarter was set at 6.27.

How has WDC stock performed recently?

Western Digital Corp. [WDC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.42. With this latest performance, WDC shares gained by 4.28% in over the last four-week period, additionally plugging by 24.47% over the last 6 months – not to mention a rise of 16.24% 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 61.78, with the RSI for the last a single of trading hit 69.10, and the three-weeks RSI is set at 58.39 for Western Digital Corp. [WDC]. The present Moving Average for the last 50 days of trading for this stock 43.92, while it was recorded at 45.25 for the last single week of trading, and 39.92 for the last 200 days.

Western Digital Corp. [WDC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Western Digital Corp. [WDC] shares currently have an operating margin of -5.93 and a Gross Margin at +18.25. Western Digital Corp.’s Net Margin is presently recorded at -13.85.

Return on Total Capital for WDC is now -3.78, given the latest momentum, and Return on Invested Capital for the company is -9.14. Return on Equity for this stock declined to -14.79, with Return on Assets sitting at -6.73. When it comes to the capital structure of this company, Western Digital Corp. [WDC] has a Total Debt to Total Equity ratio set at 75.87. Additionally, WDC Total Debt to Total Capital is recorded at 43.14, with Total Debt to Total Assets ending up at 33.69. Long-Term Debt to Equity for the company is recorded at 64.32, with the Long-Term Debt to Total Capital now at 36.57.

Reflecting on the efficiency of the workforce at the company, Western Digital Corp. [WDC] managed to generate an average of -$32,189 per employee. Receivables Turnover for the company is 5.60 with a Total Asset Turnover recorded at a value of 0.49.Western Digital Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.31.

Insider trade positions for Western Digital Corp. [WDC]

The top three institutional holders of WDC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in WDC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in WDC stock with ownership which is approximately 5.7994%.