Western Digital Corporation (NASDAQ:WDC) saw an upside of 8.66% to close Monday at $41.79 after adding $3.33 on the day. The 5-day average trading volume is 5,422,220 shares of the company’s common stock. It has gained $41.99 in the past week and touched a new high 4 times within the past 5 days. An average of 5,114,260 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,905,866.
WDC’s 1-month performance is 30.27% or $11.20 on its low of $29.79 reached on 12/27/22. The company’s shares have touched a 52-week low of $29.73 and high of $63.26, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, WDC has achieved 32.46% or $10.24 and has reached a new high 9 times. However, the current price is down -33.94% from the 52-week high price.
WDC stock investors last saw insider trading activity on Sep 07.Zamiska Gene M. (SVP & Princ. Acctg Officer) most recently sold 2,169 shares at $40.90 per share on Sep 07. This transaction cost the insider $88,712. SVP & Princ. Acctg Officer, Zamiska Gene M., sold 4,776 shares at a price of $63.00 on May 04. Then, on Feb 15, President, Tech & Strategy Sivaram Srinivasan sold 11,380 shares at a price of $53.37 per share. This transaction amounted to $607,385.
WDC stock has a beta of 1.56. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.74 while the price-to-book (PB) in the most recent quarter is 1.09, with the price to cash flow ratio at 77.15.
Western Digital Corporation’s quick ratio for the period ended September 29 was 1.00, with the current ratio over the same period at 1.80. In terms of profitability, the gross margin trailing 12 months is 31.90%. The firm’s gross profit as reported stood at $5.87 billion against revenue of $18.79 billion.
For the quarterly period ending September 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected WDC to announce $0.38 per share in earnings in its latest quarter, but it posted $0.2, representing a -47.40% surprise. EBITDA for the quarter stood at more than $377.0 million. Shareholders hold equity totaling $317.65 million.
Let’s look briefly at Western Digital Corporation (WDC) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 83.47% to suggest the stock is trending Overbought, with historical volatility in this time period at 43.41%.
The stock’s 5-day moving average is $38.52, reflecting a +12.28% or $4.57 change from its current price. WDC is currently trading +33.17% above its 20-day SMA, -6.64% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +14.43% and SMA200 by-13.15%.
Stochastic %K and %D was 94.31% and 90.28% and the average true range (ATR) pointed at 1.51. The RSI (14) points at 75.21%, while the 14-day stochastic is at 98.19% with the period’s ATR at 1.47. The stock’s 9-day MACD Oscillator is pointing at 1.00 and 2.21 on the 14-day charts.
In the most recent analyst report for Western Digital Corporation (NASDAQ: WDC), Exane BNP Paribas upgraded it to a Neutral rating. They previously had an Underperform rating on the stock. Analysts offering their rating for WDC stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate WDC as a “sell,”, while 14 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 12 have offered a “buy” rating.
What is WDC’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $28.00 and a high of $60.00, with their median price target at $42.00. Looking at these predictions, the average price target given by analysts is for Western Digital Corporation (WDC) stock is $43.37.