During the recent session, Western Digital Corporation (NASDAQ:WDC)’s traded shares were 2.12 million, with the beta value of the company hitting 1.49. At the last check today, the stock’s price was $47.28, reflecting an intraday loss of -5.26% or -$2.63. The 52-week high for the WDC share is $69.99, that puts it down -48.03 from that peak though still a striking 11.95% gain since the share price plummeted to a 52-week low of $41.63. The company’s market capitalization is $15.42B, and the average intraday trading volume over the past 10 days was 2.98 million shares, and the average trade volume was 3.50 million shares over the past three months.
Western Digital Corporation (WDC) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.00. WDC has a Sell rating from 0 analyst(s) out of 28 analysts who have looked at this stock. 9 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 17 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $1.68.
Western Digital Corporation (NASDAQ:WDC) trade information
Western Digital Corporation (WDC) registered a -5.26% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -5.26% in intraday trading to $47.28 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 2.44%, and it has moved by 14.03% in 30 days. Based on these gigs, the overall price performance for the year is -23.14%. The short interest in Western Digital Corporation (NASDAQ:WDC) is 9.22 million shares and it means that shorts have 2.5 day(s) to cover.
The consensus price target of analysts on Wall Street is $66.70, which implies an increase of 29.12% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $50.00 and $90.00 respectively. As a result, WDC is trading at a discount of -90.36% off the target high and -5.75% off the low.
Western Digital Corporation (WDC) estimates and forecasts
Statistics show that Western Digital Corporation has outperformed its competitors in share price, compared to the industry in which it operates. Western Digital Corporation (WDC) shares have gone down -6.61% during the last six months, with a year-to-date growth rate more than the industry average at 80.22% against -6.70. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -9.70% this quarter and then drop -10.50% in the quarter after that. In the rating firms’ projections, revenue will increase 26.80% compared to the previous financial year.
Revenue for the current quarter is expected to be $4.49 billion as predicted by 11 analyst(s). Meanwhile, a consensus of 11 analyst(s) estimates revenue growth to $4.77 billion by the end of Sep 2022.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 21.60%. While earnings are projected to return 416.70% in 2022, the next five years will return 22.80% per annum.
Western Digital Corporation is due to release its next quarterly earnings between April 27 and May 02. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Western Digital Corporation (NASDAQ:WDC)’s Major holders
Western Digital Corporation insiders own 0.44% of total outstanding shares while institutional holders control 81.83%, with the float percentage being 82.19%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 936 institutions own stock in it. As of Mar 30, 2022, the company held over 34.93 million shares (or 11.15% of all shares), a total value of $1.73 billion in shares.
The next largest institutional holding, with 26.55 million shares, is of Blackrock Inc.’s that is approximately 8.48% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $1.32 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Western Digital Corporation (WDC) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 8.58 million shares. This amounts to just over 2.74 percent of the company’s overall shares, with a $425.93 million market value. The same data shows that the other fund manager holds slightly less at 6.85 million, or about 2.19% of the stock, which is worth about $339.95 million.