Western Digital Corporation (NASDAQ: WDC) is -1.17% lower on its value in year-to-date trading and has touched a low of $27.40 and a high of $72.00 in the current 52-week trading range. The WDC stock was last observed hovering at around $54.74 in the last trading session, with the day’s loss setting it -1.87% off its average median price target of $53.00 for the next 12 months. It is also 37.8% off the consensus price target high of $85.00 offered by 32 analysts, but current levels are -76.23% lower than the price target low of $30.00 for the same period.
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Currently trading at $52.87, the stock is 2.00% and 13.67% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.37 million and changing -3.42% at the moment leaves the stock 25.07% off its SMA200. WDC registered -20.25% loss for a year compared to 6-month gain of 29.35%. The firm has a 50-day simple moving average (SMA 50) of $49.90 and a 200-day simple moving average (SMA200) of $42.03.
The stock witnessed a 7.04% loss in the last 1 month and extending the period to 3 months gives it a 45.78%, and is 10.52% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.54% over the week and 3.74% over the month.
Western Digital Corporation (WDC) has around 63800 employees, a market worth around $14.89B and $16.62B in sales. Fwd P/E is 9.02. Profit margin for the company is -0.20%. Distance from 52-week low is 92.96% and -26.57% from its 52-week high. The company has generated returns on investments over the last 12 months (0.70%).
Western Digital Corporation (WDC) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Western Digital Corporation (WDC) is a “Overweight”. 32 analysts offering their recommendations for the stock have an average rating of 2.20, where 14 rate it as a Hold and 2 think it is a “Overweight”. 16 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Western Digital Corporation is expected to release its quarterly report on 05/05/2021 and quarterly earnings per share for the current quarter are estimated at $0.53 with sales reaching $3.87B over the same period.The EPS is expected to grow by 61.40% this year, but quarterly earnings will post -5.50% year-over-year. Quarterly sales are estimated to shrink -8.60% in year-over-year returns.
Western Digital Corporation (WDC) Top Institutional Holders
839 institutions hold shares in Western Digital Corporation (WDC), with 1.58M shares held by insiders accounting for 0.52% while institutional investors hold 79.82% of the company’s shares. The shares outstanding are 303.00M, and float is at 302.64M with Short Float at 2.63%. Institutions hold 79.41% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 32.49 million shares valued at $1.19 billion. The investor’s holdings represent 10.68% of the WDC Shares outstanding. As of Sep 29, 2020, the second largest holder is Blackrock Inc. with 21.9 million shares valued at $800.58 million to account for 7.20% of the shares outstanding. The other top investors are State Street Corporation which holds 12.33 million shares representing 4.05% and valued at over $450.76 million, while Ameriprise Financial, Inc. holds 3.40% of the shares totaling 10.34 million with a market value of $378.0 million.
Western Digital Corporation (WDC) Insider Activity
A total of 52 insider transactions have happened at Western Digital Corporation (WDC) in the last six months, with sales accounting for 14 and purchases happening 38 times. The most recent transaction is an insider sale by Sundberg Lori S, the company’s EVP & Chief Human Res Officer. SEC filings show that Sundberg Lori S sold 1,300 shares of the company’s common stock on Jun 03 at a price of $45.66 per share for a total of $59352.0. Following the sale, the insider now owns 44322.0 shares.
Western Digital Corporation disclosed in a document filed with the SEC on Feb 05 that CORDANO MICHAEL D (President and COO) sold a total of 200 shares of the company’s common stock. The trade occurred on Feb 05 and was made at $70.16 per share for $14032.0. Following the transaction, the insider now directly holds 0.24 million shares of the WDC stock.
Still, SEC filings show that on Feb 04, RAY MICHAEL CHARLES (EVP, Chief Legal Officer & Sec) disposed off 4,387 shares at an average price of $69.00 for $0.3 million. The insider now directly holds 51,762 shares of Western Digital Corporation (WDC).
Western Digital Corporation (WDC): Who are the competitors?
The company’s main competitors (and peers) include Teradata Corporation (TDC) that is trading -10.72% down over the past 12 months. Super Micro Computer Inc. (SMCI) is 39.53% up on the 1-year trading charts. Short interest in the company’s stock has fallen -8.68% from the last report on Nov 12, 2020 to stand at a total of 8.64 million short shares sold with a short interest ratio of 1.86.