During the last session, Western Digital Corp. (NASDAQ:WDC)’s traded shares were 9.69 million, with the beta value of the company hitting 1.55. At the end of the trading day, the stock’s price was $70.54, reflecting an intraday loss of -1.51% or -$1.08. The 52-week high for the WDC share is $72.35, that puts it down -2.57 from that peak though still a striking 54.68% gain since the share price plummeted to a 52-week low of $31.97. The company’s market capitalization is $22.99B, and the average intraday trading volume over the past 10 days was 8.33 million shares, and the average trade volume was 7.04 million shares over the past three months.
Western Digital Corp. (NASDAQ:WDC) trade information
Western Digital Corp. (WDC) registered a -1.51% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -1.51% in intraday trading to $70.54, hitting a weekly high. The stock’s 5-day price performance is 4.29%, and it has moved by 11.10% in 30 days. Based on these gigs, the overall price performance for the year is 89.62%. The short interest in Western Digital Corp. (NASDAQ:WDC) is 15.58 million shares and it means that shorts have 2.5 day(s) to cover.
Western Digital Corp. (WDC) estimates and forecasts
Statistics show that Western Digital Corp. has outperformed its competitors in share price, compared to the industry in which it operates. Western Digital Corp. (WDC) shares have gone up 57.39% during the last six months, with a year-to-date growth rate more than the industry average at 60.72% against 25.70. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 110.90% this quarter and then jump 135.90% in the quarter after that. In the rating firms’ projections, revenue will increase 3.30% compared to the previous financial year.
Revenue for the current quarter is expected to be $3.33 billion as predicted by 19 analyst(s). Meanwhile, a consensus of 19 analyst(s) estimates revenue growth to $3.61 billion by the end of Jun 2024.
While earnings are projected to return 56.93% in 2024.
WDC Dividends
Western Digital Corp. is due to release its next quarterly earnings between May 06 and May 10. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Western Digital Corp. (NASDAQ:WDC)’s Major holders
Western Digital Corp. insiders own 0.34% of total outstanding shares while institutional holders control 94.79%, with the float percentage being 95.12%. Vanguard Group Inc is the largest shareholder of the company, while 893 institutions own stock in it. As of Jun 29, 2023, the company held over 38.52 million shares (or 11.88% of all shares), a total value of $1.46 billion in shares.
The next largest institutional holding, with 26.41 million shares, is of Blackrock Inc.’s that is approximately 8.15% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $1.0 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Western Digital Corp. (WDC) shares are Vanguard Total Stock Market Index Fund and Price (T.Rowe) Mid-Cap Value Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 9.97 million shares. This amounts to just over 3.08 percent of the company’s overall shares, with a $378.17 million market value. The same data shows that the other fund manager holds slightly less at 8.01 million, or about 2.47% of the stock, which is worth about $303.69 million.
