Western Digital Corporation (NASDAQ:WDC) saw an upside of 0.05% to close Tuesday at $40.42 after adding $0.02 on the day. The 5-day average trading volume is 2,064,900 shares of the company’s common stock. It has gained $41.28 in the past week and touched a new high 2 times within the past 5 days. An average of 3,182,490 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,340,846.
WDC’s 1-month performance is 3.85% or $2.12 on its low of $38.14 reached on 07/24/23. The company’s shares have touched a 52-week low of $29.73 and high of $48.29, with the stock’s rally to the 52-week high happening on 02/02/23. YTD, WDC has achieved 28.11% or $8.87 and has reached a new high 12 times. However, the current price is down -16.30% from the 52-week high price.
Insider Transactions
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.
Valuation Metrics
WDC stock has a beta of 1.68. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.06 while the price-to-book (PB) in the most recent quarter is 1.11.
Western Digital Corporation’s quick ratio for the period ended June 29 was 0.90, with the current ratio over the same period at 1.60. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.51, while the total debt to equity was 0.61.. In terms of profitability, the gross margin trailing 12 months is 15.30%. The trailing 12-month EBITDA margin is -2.14% while for the period ending June 29, Western Digital Corporation’s operating margin was 5.90%. The firm’s gross profit as reported stood at $1.89 billion against revenue of $12.32 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 104.3% to -$581.0 million, while revenue of -$446.0 million was 23.24% off the previous quarter. Analysts expected WDC to announce -$2.01 per share in earnings in its latest quarter, but it posted -$1.98, representing a 1.50% surprise. WDC stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 13.58 billion, with total debt at $7.07 billion.
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 22 August was 42.30% to suggest the stock is trending Neutral, with historical volatility in this time period at 24.46%.
The stock’s 5-day moving average is $40.25, reflecting a -1.53% or -$0.63 change from its current price. WDC is currently trading +4.61% above its 20-day SMA, +10.44% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +1.61% and SMA200 by+16.89%.
Stochastic %K and %D was 19.00% and 13.03% and the average true range (ATR) pointed at 1.06. The RSI (14) points at 47.09%, while the 14-day stochastic is at 23.63% with the period’s ATR at 1.09. The stock’s 9-day MACD Oscillator is pointing at -0.81 and -1.59 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Western Digital Corporation (NASDAQ: WDC), UBS reiterated its a Neutral rating for the company but lifted their price target by $38 to $35. 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 13 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 3 rates the stock as overweight while 9 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 $31.00 and a high of $60.00, with their median price target at $45.50. Looking at these predictions, the average price target given by analysts is for Western Digital Corporation (WDC) stock is $45.45.
