New Big Money Means Western Digital Corporation (WDC) Investors Could Reap Benefit

894 institutions hold shares in Western Digital Corporation (WDC), with 1.51M shares held by insiders accounting for 0.49% while institutional investors hold 80.67% of the company’s shares. The shares outstanding are 305.00M, and float is at 304.58M with Short Float at 1.92%. Institutions hold 80.27% of the Float.


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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 32.33 million shares valued at $1.79 billion. The investor’s holdings represent 10.56% of the WDC Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 22.22 million shares valued at $1.23 billion to account for 7.26% of the shares outstanding. The other top investors are State Street Corporation which holds 12.03 million shares representing 3.93% and valued at over $666.18 million, while Franklin Resources, Inc. holds 3.43% of the shares totaling 10.5 million with a market value of $581.6 million.

Western Digital Corporation (NASDAQ: WDC) is 30.38% higher on its value in year-to-date trading and has touched a low of $33.53 and a high of $73.01 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The WDC stock was last observed hovering at around $72.82 in the last trading session, with the day’s loss setting it -0.6% off its average median price target of $80.00 for the next 12 months. It is also 27.78% off the consensus price target high of $100.00 offered by 31 analysts, but current levels are -31.31% lower than the price target low of $55.00 for the same period.

Currently trading at $72.22, the stock is 5.66% and 10.64% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.56 million and changing -0.82% at the moment leaves the stock 49.49% off its SMA200. WDC registered 66.75% gain for a year compared to 6-month gain of 97.48%. The firm has a 50-day simple moving average (SMA 50) of $68.10 and a 200-day simple moving average (SMA200) of $51.82.

The stock witnessed a 4.88% loss in the last 1 month and extending the period to 3 months gives it a 36.11%, and is 10.33% 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 3.48% over the week and 3.91% over the month.

Western Digital Corporation (WDC) has around 63800 employees, a market worth around $20.68B and $16.33B in sales. Current P/E ratio is 129.66 and Fwd P/E is 10.74. Profit margin for the company is 1.00%. Distance from 52-week low is 115.39% and -1.08% 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”. 31 analysts offering their recommendations for the stock have an average rating of 2.20, where 9 rate it as a Hold and 2 think it is a “Overweight”. 19 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 07/29/2021 and quarterly earnings per share for the current quarter are estimated at $0.68 with sales reaching $3.97B over the same period.The EPS is expected to grow by 61.40% this year, but quarterly earnings will post -3.90% year-over-year. Quarterly sales are estimated to shrink -5.00% in year-over-year returns.

Western Digital Corporation (WDC) Insider Activity

A total of 21 insider transactions have happened at Western Digital Corporation (WDC) in the last six months, with sales accounting for 4 and purchases happening 17 times. The most recent transaction is an insider sale by RAY MICHAEL CHARLES, the company’s EVP, Chief Legal Officer & Sec. SEC filings show that RAY MICHAEL CHARLES sold 22,735 shares of the company’s common stock on Jan 29 at a price of $59.92 per share for a total of $1.36 million. Following the sale, the insider now owns 61469.0 shares.

Western Digital Corporation disclosed in a document filed with the SEC on Jun 03 that Sundberg Lori S (EVP & Chief Human Res Officer) sold a total of 1,300 shares of the company’s common stock. The trade occurred on Jun 03 and was made at $45.66 per share for $59352.0. Following the transaction, the insider now directly holds 44322.0 shares of the WDC stock.

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Western Digital Corporation (WDC): Who are the competitors?

The company’s main competitors (and peers) include Teradata Corporation (TDC) that is trading 80.88% up over the past 12 months and Seagate Technology plc (STX) that is 62.34% higher over the same period. Super Micro Computer Inc. (SMCI) is 94.66% up on the 1-year trading charts. Short interest in the company’s stock has risen 6.42% from the last report on Mar 14, 2021 to stand at a total of 5.83 million short shares sold with a short interest ratio of 1.06.

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