Western Digital Corporation (NASDAQ:WDC) has a beta value of 1.6 and has seen 1,984,200 shares traded in the recent trading session. The company, currently valued at $21.37 Billion, closed the recent trade at $69.53 per share which meant it lost -$1.1 on the day or -1.56% during that session. The WDC stock price is -4.96% off its 52-week high price of $72.98 and 51.78% above the 52-week low of $33.53. If we look at the companys 10-day average daily trading volume, we find that it stood at 4.62 Million shares traded. The 3-month trading volume is 5.12 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. None of the analysts rate the stock as a Sell, while 2 rate it as Overweight. 9 out of 30 have rated it as a Hold, with 18 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $1.46.
Western Digital Corporation (NASDAQ:WDC) trade information
Despite being -1.56% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Friday, Apr 30 when the WDC stock price touched $74.70- or saw a rise of 6.47%. Year-to-date, Western Digital Corporation shares have moved 26.14%, while the 5-day performance has seen it change -2.16%. Over the past 30 days, the shares of Western Digital Corporation (NASDAQ:WDC) have changed -2.1%. Short interest in the company has seen 5.85 Million shares shorted with days to cover at 1.14.
Wall Street analysts have a consensus price target for the stock at $89.17, which means that the shares value could jump 28.25% from the levels at last check today. The projected low price target is $60 while the price target rests at a high of $125. In that case, then, we find that the latest price level in todays session is +79.78% off the targeted high while a plunge would see the stock lose -13.71% from the levels at last check today.
Western Digital Corporation (WDC) estimates and forecasts
Figures show that Western Digital Corporation shares have outperformed across the wider relevant industry. The companys shares have gained +81.99% over the past 6 months, with this year growth rate of -1.64%, compared to -4.1% for the industry. Other than that, the company has, however Increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 18.7% and 190.8% for the next quarter. Revenue growth from the last financial year stood is estimated to be -1.6%.
25 analysts offering their estimates for the company have set an average revenue estimate of $4.49 Billion for the current quarter. 24 have an estimated revenue figure of $4.82 Billion for the next quarter concluding in September 01, 2021. Year-ago sales stood $4.29 Billion for this quarter, and analysts expect sales will grow by 4.8% for the current quarter.
If we evaluate the companys 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 2021 is a modest +61.4% while over the next 5 years, the companys earnings are expected to increase by 47.8%.
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Western Digital Corporation (NASDAQ:WDC)s Major holders
Insiders own 0.52% of the company shares, while shares held by institutions stand at 80.25% with a share float percentage of 80.67%. Investors are also buoyed by the number of investors in a company, with Western Digital Corporation having a total of 896 institutions that hold shares in the company. The top two institutional holders are Vanguard Group Inc. (The) with over 32.33 Million shares worth more than $1.79 Billion. As of December 30, 2020, Vanguard Group Inc. (The) held 10.56% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 22.22 Million shares as of December 30, 2020. The firms total holdings are worth over $1.23 Billion and represent 7.26% 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 December 30, 2020, the former fund manager holds about 2.65% shares in the company for having 8109739 shares of worth $449.2 Million while later fund manager owns 6.53 Million shares of worth $361.73 Million as of December 30, 2020, which makes it owner of about 2.13% of company’s outstanding stock.