Western Digital Corporation (NASDAQ:WDC) has a beta value of 1.48 and has seen 2,101,887 shares traded in the recent trading session. The company, currently valued at $12.14 Billion, closed the recent trade at $38.86 per share which meant it gained $1.08 on the day or 2.85% during that session. The WDC stock price is -85.28% off its 52-week high price of $72 and 29.49% above the 52-week low of $27.4. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.71 Million shares traded. The 3-month trading volume is 6.02 Million shares.
The consensus among analysts is that Western Digital Corporation (WDC) is an Overweight stock at the moment, with a recommendation rating of 2.2. 1 analysts rate the stock as a Sell, while 3 rate it as Overweight. 11 out of 30 have rated it as a Hold, with 15 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.54.
Western Digital Corporation (NASDAQ:WDC) trade information
Sporting 2.85% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Sep 16 when the WDC stock price touched $39.12- or saw a rise of 0.59%. Year-to-date, Western Digital Corporation shares have moved -38.73%, while the 5-day performance has seen it change 6.4%. Over the past 30 days, the shares of Western Digital Corporation (NASDAQ:WDC) have changed 8.81%. Short interest in the company has seen 10.31 Million shares shorted with days to cover at 1.71.
Wall Street analysts have a consensus price target for the stock at $51.46, which means that the shares’ value could jump 32.42% from current levels. The projected low price target is $30 while the price target rests at a high of $90. In that case, then, we find that the current price level is +131.6% off the targeted high while a plunge would see the stock lose -22.8% from current levels.
Western Digital Corporation (WDC) estimates and forecasts
Figures show that Western Digital Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained +10.97% over the past 6 months, with this year growth rate of -7.57%, compared to -8.7% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 58.8% and 6.5% for the next quarter. Revenue growth from the last financial year stood is estimated to be -6.3%.
25 analysts offering their estimates for the company have set an average revenue estimate of $3.83 Billion for the current quarter. 25 have an estimated revenue figure of $3.87 Billion for the next quarter concluding in December 01, 2020. Year-ago sales stood $4.04 Billion and $4.23 Billion respectively for this quarter and the next, and analysts expect sales will grow by -5.2% for the current quarter and -8.7% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -16.4% over the past 5 years. Earnings growth for 2020 is a modest +61.4%.
Western Digital Corporation (NASDAQ:WDC)’s Major holders
Insiders own 0.36% of the company shares, while shares held by institutions stand at 86.43% with a share float percentage of 86.74%. Investors are also buoyed by the number of investors in a company, with Western Digital Corporation having a total of 969 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 33.3 Million shares worth more than $1.47 Billion. As of June 29, 2020, Vanguard Group, Inc. (The) held 11.01% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 21.77 Million shares as of June 29, 2020. The firm’s total holdings are worth over $961.2 Million and represent 7.2% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. As of June 29, 2020, the former fund manager holds about 2.69% shares in the company for having 8132070 shares of worth $359.03 Million while later fund manager owns 7.07 Million shares of worth $311.98 Million as of June 29, 2020, which makes it owner of about 2.34% of company’s outstanding stock.