In the last trading session, 11.42 million Western Digital Corp. (NASDAQ:WDC) shares changed hands as the company’s beta touched 1.55. With the company’s per share price at $68.15 changed hands at $3.17 or 4.88% during last session, the market valuation stood at $22.21B. WDC’s last price was a premium, traded about 3.15% off its 52-week high of $66.00. The share price had its 52-week low at $31.97, which suggests the last value was 53.09% up since then. When we look at Western Digital Corp.’s average trading volume, we note the 10-day average is 5.98 million shares, with the 3-month average coming to 6.55 million.
Western Digital Corp. (NASDAQ:WDC) trade information
Instantly WDC was in green as seen at the end of in last trading. With action 13.94%, the performance over the past five days has been green. The jump to weekly highs of 69.28 added 4.88% to the stock’s daily price. The company’s shares are showing year-to-date upside of 30.13%, with the 5-day performance at 13.94% in the green. However, in the 30-day time frame, Western Digital Corp. (NASDAQ:WDC) is 19.39% up. Looking at the short shares, we see there were 18.74 million shares sold at short interest cover period of 3.22 days.
Western Digital Corp. (WDC) estimates and forecasts
Data shows that the Western Digital Corp. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 52.73% over the past 6 months, a 60.72% in annual growth rate that is considerably higher than the industry average of 26.30%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Western Digital Corp. will rise 110.90%, while the growth in revenue is estimated to hit 135.90% for the next quarter. Year-over-year growth is forecast to reach 3.30% up from the last financial year.
Consensus estimates given by 18 financial analysts project the company’s revenue in the current quarter to hit an average of $3.33 billion. 18 analysts are of the opinion that Western Digital Corp.’s revenue for the quarter ending Jun 2024 will be $3.61 billion. The estimates for the next quarter sales put growth at 35.20%.
The 2024 estimates are for Western Digital Corp. earnings to increase by 56.13%.
WDC Dividends
Western Digital Corp. is expected to release its next quarterly earnings report between May 06 and May 10.
Western Digital Corp. (NASDAQ:WDC)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.32% of Western Digital Corp. shares while 94.84% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 95.14%. There are 94.84% institutions holding the Western Digital Corp. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 11.88% of the shares, roughly 38.52 million WDC shares worth $1.46 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 8.15% or 26.41 million shares worth $1.0 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Price (T.Rowe) Mid-Cap Value Fund. With 9.97 million shares estimated at $378.17 million under it, the former controlled 3.08% of total outstanding shares. On the other hand, Price (T.Rowe) Mid-Cap Value Fund held about 2.47% of the shares, roughly 8.01 million shares worth around $303.69 million.
