In the latest trading session, 0.86 million Western Digital Corp. (NASDAQ:WDC) shares changed hands as the company’s beta touched 1.39. With the company’s most recent per share price at $66.32 changed hands at -$1.44 or -2.13% at last look, the market valuation stands at $22.92B. WDC’s current price is a discount, trading about -22.96% off its 52-week high of $81.55. The share price had its 52-week low at $35.62, which suggests the last value was 46.29% up since then. When we look at Western Digital Corp.’s average trading volume, we note the 10-day average is 4.48 million shares, with the 3-month average coming to 5.65 million.
Analysts gave the Western Digital Corp. (WDC) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.63. If we narrow down to specifics, the data shows that 0 out of 19 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended WDC as a Hold, 16 felt it is a Buy and 0 rated the stock as Underweight. Western Digital Corp.’s EPS for the current quarter is expected to be 1.71.
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Western Digital Corp. (NASDAQ:WDC) trade information
Instantly WDC was in red as seen in intraday trades today. With action -2.17%, the performance over the past five days has been red. The company’s shares are showing year-to-date upside of 26.64%, with the 5-day performance at -2.17% in the red. However, in the 30-day time frame, Western Digital Corp. (NASDAQ:WDC) is -0.21% down. Looking at the short shares, we see there were 19.54 million shares sold at short interest cover period of 4.13 days.
The consensus price target for the stock as assigned by Wall Street analysts is 76.5, meaning bulls need an upside of 13.31% from its recent market value. According to analyst projections, WDC’s forecast low is 60 with 115 as the target high. To hit the forecast high, the stock’s price needs a -73.4% plunge from its current level, while the stock would need to tank 9.53% for it to hit the projected low.
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 -4.64% over the past 6 months, a 4,275.00% in annual growth rate that is considerably higher than the industry average of 27.00%. Year-over-year growth is forecast to reach 32.50% up from the last financial year.
Consensus estimates given by 20 financial analysts project the company’s revenue in the current quarter to hit an average of 4.12B. 20 analysts are of the opinion that Western Digital Corp.’s revenue for the current quarter will be 4.34B.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -0.24%. The 2024 estimates are for Western Digital Corp. earnings to increase by 3926.11%, but the outlook for the next 5-year period is at -10.00% per year.
WDC Dividends
Western Digital Corp. is expected to release its next quarterly earnings report on 2024-Oct-24. During the past 5 years, the average dividend yield was 3.23 per year.
Western Digital Corp. (NASDAQ:WDC)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.35% of Western Digital Corp. shares while 99.58% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 99.93%. There are 99.58% institutions holding the Western Digital Corp. stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 11.9105% of the shares, roughly 38.83 million WDC shares worth $2.94 billion.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 8.6151% or 28.09 million shares worth $2.13 billion as of 2024-06-30.
Among Mutual Funds, the top two as of Jun 30, 2024 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 10.29 shares estimated at $688.25 million under it, the former controlled 2.98% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.42% of the shares, roughly 8.38 shares worth around $560.59 million.
