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Western Digital Corporation (NASDAQ: WDC): What Value Is It And What Can You Do About It

Western Digital Corporation (NASDAQ:WDC)’s traded shares stood at 1.5 million during the latest session, with the company’s beta value hitting 1.70. At the last check today, the stock’s price was $34.33, to imply a decrease of -0.17% or -$0.06 in intraday trading. The WDC share’s 52-week high remains $63.26, putting it -84.27% down since that peak but still an impressive 13.4% since price per share fell to its 52-week low of $29.73. The company has a valuation of $11.29B, with an average of 4.24 million shares in intraday trading volume over the past 10 days and average of 4.70 million shares over the past 3 months.

Western Digital Corporation (NASDAQ:WDC) trade information

After registering a -0.17% downside in the latest session, Western Digital Corporation (WDC) has traded red over the past five days. The stock hit a weekly high of 37.04 this Wednesday, 03/15/23, dropping -0.17% in its intraday price action. The 5-day price performance for the stock is -7.37%, and -21.33% over 30 days. With these gigs, the year-to-date price performance is 8.81%. Short interest in Western Digital Corporation (NASDAQ:WDC) saw shorts transact 7.57 million shares and set a 1.38 days time to cover.

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Western Digital Corporation (WDC) estimates and forecasts

Looking at statistics comparing Western Digital Corporation share performance against respective industry, we note that the company has underperformed competitors. Western Digital Corporation (WDC) shares are -10.44% down over the last 6 months, with its year-to-date growth rate lower than industry average at -137.10% against 5.90%. Revenue is forecast to shrink -194.50% this quarter before falling -161.20% for the next one. The rating firms project that company’s revenue will shrink -33.10% compared to the previous financial year.

Revenue forecast for the current quarter as set by 19 analysts is $2.72 billion. Meanwhile, for the quarter ending Jun 2023, a total of 19 analyst(s) estimate revenue growth to $2.93 billion.Earnings reports from the last fiscal year show that sales brought in $4.38 billion and $4.53 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -38.00% before dropping -35.30% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 28.80% for the past 5-year period. While 2023 is set for a 78.70% return in earnings, projections for the next 5 years are at -12.32% annually.

WDC Dividends

Western Digital Corporation has its next earnings report out between April 26 and May 01. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Western Digital Corporation has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Western Digital Corporation (NASDAQ:WDC)’s Major holders

Western Digital Corporation insiders hold 0.28% of total outstanding shares, with institutional holders owning 89.24% of the shares at 89.49% float percentage. In total, 89.24% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 36.63 million shares (or 11.47% of shares), all amounting to roughly $1.19 billion.

The next major institution holding the largest number of shares is Blackrock Inc. with 24.96 million shares, or about 7.82% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $812.39 million.

We also have Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund as the top two Mutual Funds with the largest holdings of the Western Digital Corporation (WDC) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 9.42 million shares. This is just over 2.95% of the total shares, with a market valuation of $306.77 million. Data from the same date shows that the other fund manager holds a little less at 7.24 million, or 2.27% of the shares, all valued at about 235.77 million.

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