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Western Digital Corp. (WDC): These Numbers Show Where NASDAQ:WDC Stock Is Going Next

Western Digital Corp. (NASDAQ: WDC) is 31.43% higher on its value in year-to-date trading and has touched a low of $31.97 and a high of $72.35 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 $70.85 in the last trading session, with the day’s loss setting it -2.02%.

Currently trading at $68.83, the stock is 7.95% and 14.92% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.65 million and changing -2.85% at the moment leaves the stock 43.16% off its SMA200. WDC registered 84.63% gain for a year compared to 6-month gain of 50.84%. The firm has a 50-day simple moving average (SMA 50) of $2.60 and a 200-day simple moving average (SMA200) of -$25.41.

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The stock witnessed a 7.05% loss in the last 1 month and extending the period to 3 months gives it a 31.43%, and is 5.92% 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 3.85% over the week and 3.16% over the month.

Western Digital Corp. (WDC) has around 53000 employees, a market worth around $22.43B and $11.26B in sales. Fwd P/E is 11.14. Profit margin for the company is -20.54%. Distance from 52-week low is 115.30% and -4.87% from its 52-week high. The company has generated returns on investments over the last 12 months (-12.37%).

Western Digital Corp. quarterly earnings per share for the current quarter are estimated at $0.15 with sales reaching $3.33B over the same period.The EPS is expected to grow by 56.13% this year, but quarterly earnings will post 3.30% year-over-year.

Western Digital Corp. (WDC) Top Institutional Holders

891 institutions hold shares in Western Digital Corp. (WDC), with institutional investors hold 95.12% of the company’s shares. The shares outstanding are 322.00M, and float is at 320.73M with Short Float at 4.86%. Institutions hold 94.79% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 38.52 million shares valued at $1.46 billion. The investor’s holdings represent 11.88% of the WDC Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 26.41 million shares valued at $1.0 billion to account for 8.15% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 24.03 million shares representing 7.41% and valued at over $911.44 million, while State Street Corporation holds 3.95% of the shares totaling 12.82 million with a market value of $486.26 million.

Western Digital Corp. (WDC) Insider Activity

The most recent transaction is an insider sale by Alexy Kimberly,the company’sDirector. SEC filings show that Alexy Kimberly sold 2,648 shares of the company’s common stock on Apr 01 ’24 at a price of $69.95 per share for a total of $0.19 million. Following the sale, the insider now owns 20509.0 shares.

Western Digital Corp. disclosed in a document filed with the SEC on Mar 01 ’24 that Zamiska Gene M. (SVP & Princ. Acctg Officer) sold a total of 10,768 shares of the company’s common stock. The trade occurred on Mar 01 ’24 and was made at $61.31 per share for $0.66 million. Following the transaction, the insider now directly holds 31401.0 shares of the WDC stock.

Still, SEC filings show that on Mar 01 ’24, Alexy Kimberly (Director) disposed off 3,000 shares at an average price of $62.75 for $0.19 million. The insider now directly holds 23,157 shares of Western Digital Corp. (WDC).

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