Western Digital Corporation (NASDAQ: WDC) is 32.46% higher on its value in year-to-date trading and has touched a low of $29.73 and a high of $63.26 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 $38.46 in the last trading session, with the day’s gains setting it 3.33% off its average median price target of $42.00 for the next 12 months. It is also 30.35% off the consensus price target high of $60.00 offered by 28 analysts, but current levels are -49.25% lower than the price target low of $28.00 for the same period.
Currently trading at $41.79, the stock is 20.41% and 18.19% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.28 million and changing 8.66% at the moment leaves the stock -3.74% off its SMA200. WDC registered -30.26% loss for a year compared to 6-month loss of -11.50%.
The stock witnessed a 30.27% gain in the last 1 month and extending the period to 3 months gives it a 24.86%, and is 12.28% 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 3.45% over the week and 3.57% over the month.
Western Digital Corporation (WDC) has around 65000 employees, a market worth around $12.96B and $17.48B in sales. Current P/E ratio is 14.38 and Fwd P/E is 13.90. Profit margin for the company is 5.20%. Distance from 52-week low is 40.57% and -33.94% from its 52-week high. The company has generated returns on investments over the last 12 months (9.20%).
Western Digital Corporation (WDC) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Western Digital Corporation (WDC) is a “Overweight”. 28 analysts offering their recommendations for the stock have an average rating of 2.50, where 14 rate it as a Hold and 1 think it is a “Overweight”. 12 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
Western Digital Corporation is expected to release its quarterly report on 04/27/2023.The EPS is expected to grow by 78.70% this year.
Western Digital Corporation (WDC) Top Institutional Holders
The shares outstanding are 317.65M, and float is at 316.67M with Short Float at 2.55%.
Western Digital Corporation (WDC) Insider Activity
A total of 42 insider transactions have happened at Western Digital Corporation (WDC) in the last six months, with sales accounting for 22 and purchases happening 20 times. The most recent transaction is an insider sale by Zamiska Gene M.,the company’sSVP & Princ. Acctg Officer. SEC filings show that Zamiska Gene M. sold 2,169 shares of the company’s common stock on Sep 07 at a price of $40.90 per share for a total of $88712.0. Following the sale, the insider now owns 31554.0 shares.
Western Digital Corporation disclosed in a document filed with the SEC on May 04 that Zamiska Gene M. (SVP & Princ. Acctg Officer) sold a total of 4,776 shares of the company’s common stock. The trade occurred on May 04 and was made at $63.00 per share for $0.3 million. Following the transaction, the insider now directly holds 26719.0 shares of the WDC stock.
Still, SEC filings show that on Feb 15, Sivaram Srinivasan (President, Tech & Strategy) disposed off 11,380 shares at an average price of $53.37 for $0.61 million. The insider now directly holds 254,507 shares of Western Digital Corporation (WDC).
Western Digital Corporation (WDC): Who are the competitors?
The company’s main competitors (and peers) include Seagate Technology Holdings plc (STX) that is trading -37.04% down over the past 12 months and NetApp Inc. (NTAP) that is -23.68% lower over the same period. Western Digital Corporation (WDC) is -30.26% down on the 1-year trading charts.