Western Digital Corp. (NASDAQ:WDC)’s traded shares stood at 4.82 million during the latest session, with the company’s beta value hitting 1.39. At the last check today, the stock’s price was $72.28, to imply an increase of 8.99% or $5.96 in intraday trading. The WDC share’s 52-week high remains $81.55, putting it -12.83% down since that peak but still an impressive 50.72% since price per share fell to its 52-week low of $35.62. The company has a valuation of $24.99B, with an average of 5.11 million shares in intraday trading volume over the past 10 days and average of 5.72 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Western Digital Corp. (WDC), translating to a mean rating of 1.63. Of 19 analyst(s) looking at the stock, 0 analyst(s) give WDC a Sell rating. 0 of those analysts rate the stock as Overweight while 3 advise Hold as 16 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 1.93.
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Western Digital Corp. (NASDAQ:WDC) trade information
After registering a 8.99% upside in the latest session, Western Digital Corp. (WDC) has traded red over the past five days. The 5-day price performance for the stock is 7.83%, and 2.58% over 30 days. With these gigs, the year-to-date price performance is 38.02%. Short interest in Western Digital Corp. (NASDAQ:WDC) saw shorts transact 19.54 million shares and set a 4.13 days time to cover.
The extremes give us $60 and $115 for target low and target high price respectively. As such, WDC has been trading -59.1% off suggested target high and 16.99% from its likely low.
Western Digital Corp. (WDC) estimates and forecasts
Looking at statistics comparing Western Digital Corp. share performance against respective industry, we note that the company has outperformed competitors. Western Digital Corp. (WDC) shares are 1.29% up over the last 6 months, with its year-to-date growth rate higher than industry average at 4,055.00% against 27.00%. Revenue is forecast to grow 379.70% this quarter before jumping 211.10% for the next one. The rating firms project that company’s revenue will grow 32.10% compared to the previous financial year.
Revenue forecast for the current quarter as set by 20 analysts is 4.32B. Meanwhile, for the current quarter, a total of 19 analyst(s) estimate revenue growth to 4.29B.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -0.24% for the past 5-year period. While 2024 is set for a 3839.15% return in earnings, projections for the next 5 years are at -10.00% annually.
WDC Dividends
Western Digital Corp. has its next earnings report out on 2025-Jan-23. 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. The company’s average dividend yield trailing the past 5-year period is 3.23%.
Western Digital Corp. (NASDAQ:WDC)’s Major holders
Western Digital Corp. insiders hold 0.35% of total outstanding shares, with institutional holders owning 99.64% of the shares at 99.99% float percentage. In total, 99.64% institutions holds shares in the company, led by VANGUARD GROUP INC. As of 2024-06-30, the company held over 38.83 million shares (or 11.9105% of shares), all amounting to roughly $2.94 billion.
The next major institution holding the largest number of shares is BLACKROCK INC. with 28.09 million shares, or about 8.6151% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $2.13 billion.
We also have Vanguard Total Stock Market Index Fund and Price (T.Rowe) Mid-Cap Value Fund as the top two Mutual Funds with the largest holdings of the Western Digital Corp. (WDC) shares. Going by data provided on Jun 30, 2023, Vanguard Total Stock Market Index Fund holds roughly 9.97 shares. This is just over 3.08% of the total shares, with a market valuation of $378.17 million. Data from the same date shows that the other fund manager holds a little less at 8.01, or 2.47% of the shares, all valued at about 303.69 million.
