In today’s recent session, 4.87 million shares of the Western Digital Corp. (NASDAQ:WDC) have been traded, and its beta is 1.55. Most recently the company’s share price was $71.56, and it changed around $3.32 or 4.87% from the last close, which brings the market valuation of the company to $23.32B. WDC at last check was trading at a discount to its 52-week high of $69.28, offering almost 3.19% off that amount. The share price’s 52-week low was $31.97, which indicates that the recent value has risen by an impressive 55.32% since then. We note from Western Digital Corp.’s average daily trading volume that its 10-day average is 6.71 million shares, with the 3-month average coming to 6.82 million.
Western Digital Corp. stock received a consensus recommendation rating of Buy, based on a mean score of 1.84. If we narrow it down even further, the data shows that 0 out of 24 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 7 recommended WDC as a Hold, whereas 13 deemed it a Buy, and 0 rated it as Underweight. Western Digital Corp. is expected to report earnings per share of $0.15 for the current quarter.
Western Digital Corp. (NASDAQ:WDC) trade information
Instantly WDC has been showing a green trend so far today with a performance of 4.87% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 36.64% year-to-date, but still up 11.92% over the last five days. On the other hand, Western Digital Corp. (NASDAQ:WDC) is 20.33% up in the 30-day period. We can see from the shorts that 15.58 million shares have been sold at a short interest cover period of 2.5 day(s).
The consensus price target as assigned by Wall Street analysts is $64.22, which translates to bulls needing to decrease their stock price by -11.43% from its current value. Analyst projections state that WDC is forecast to be at a low of $31 and a high of $88.
Western Digital Corp. (WDC) estimates and forecasts
Western Digital Corp. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 56.24 percent over the past six months and at a 60.72% annual growth rate that is well above the industry average of 26.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 110.90% in revenue this quarter, and will report an increase of 135.90% in the next quarter. The year-over-year growth rate is expected to be 3.30%, up from the previous year.
Consensus estimates provided by 19 financial analysts predict the company will bring in an average of $3.33 billion in revenue for the current quarter. 19 analysts expect Western Digital Corp. to make $3.61 billion in revenue for the quarter ending Jun 2024. Forecasts for the next quarter put sales growth at 35.10%.
WDC Dividends
Western Digital Corp.’s next quarterly earnings report is expected to be released around May 06 and May 10.
Western Digital Corp. (NASDAQ:WDC)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.32% of Western Digital Corp. shares, and 94.85% of them are in the hands of institutional investors. The stock currently has a share float of 95.15%. Western Digital Corp. stock is held by 893 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 11.88% of the shares, which is about 38.52 million shares worth $1.46 billion.
Blackrock Inc., with 8.15% or 26.41 million shares worth $1.0 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Price (T.Rowe) Mid-Cap Value Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 9.97 million shares worth $378.17 million, making up 3.08% of all outstanding shares. On the other hand, Price (T.Rowe) Mid-Cap Value Fund held roughly 8.01 million shares worth around $303.69 million, which represents about 2.47% of the total shares outstanding.
