The stock of Western Digital Corporation (NASDAQ:WDC) increased by $0.14 on Tuesday to finish at $41.55, up 0.34 percent. The last five days have seen an average of 2,531,940 shares of common stock traded. 12 times new highs were reached in the current year, with a gain of $10.00. The average number of shares traded over the last 20 days was 2,632,680, while the average volume over the last 50 days totaled 3,219,788.
WDC stock dropped -2.37% since last month. On 08/25/23, the company’s shares reached a one-month low of $38.84. The stock touched a high of $45.67 on 02/02/23, after rallying from a low of $29.73 in 52 weeks. The price of WDC stock has risen by 31.70% or $10.00 this year, reaching a new high 12 times. Still, the stock price is down -9.02% from the 52-week high.
Insider Transactions
WDC stock investors should be aware that Western Digital Corporation (WDC) stock had its last reported insider trading activity 357 days ago on Sep 07. On Sep 07, SVP & Princ. Acctg Officer Zamiska Gene M. sold 2,169 shares at $40.90 each. This transaction resulted in the insider making $88,712.
Valuation Metrics
Beta for the stock is 1.67. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.10, the price-to-book (PB) ratio of 1.22.
Company paid $0.50 per share in dividends, remained unchanged from $0.50 last year.
Financial Health
For the three months ended June 29, Western Digital Corporation’s quick ratio was 0.80, while its current ratio was 1.50, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.54, and the total debt to equity ratio is 0.65. As far as profitability goes, gross margin for the trailing twelve months is 15.30% percent. Western Digital Corporation’s operating margin stood at -10.40% for the same period. Based on annual data, it had gross profit of $1.89 billion and revenue of $12.32 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. WDC’s return on assets (ROA) during the last 12 months has been -6.90%. There was a -8.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -14.80%.
Earnings Surprise
According to Western Digital Corporation’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.67 billion, while revenues fell by -69.46% to $2.8 billion. It was predicted that Western Digital Corporation’s quarterly earnings would be -$1.98, but it ended up being -$2.01, beating the consensus by 1.50%. EBITDA was -$461.0 million for the quarter. At the end of Western Digital Corporation’s most recent quarter ended June 29, its liabilities totaled 13.58 billion, while its total debt was $7.35 billion. Equity owned by shareholders amounts to $321.9 million.
Technical Picture
Here’s a quick look at Western Digital Corporation’s (WDC) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 56.08%, suggesting the stock is Neutral, with a 32.67% historical volatility rate.
The stochastic %K and %D were 45.36% and 31.86% respectively, while the average true range (ATR) was 1.16. Based on the 14-day stochastic reading of 62.59%, the RSI (14) reading is 54.73%. On the 9-day MACD Oscillator, the stock is at 0.35, and the 14-day reading is at -0.06.
Analyst Ratings
In a note to investors, UBS maintained its a Neutral rating on Western Digital Corporation (NASDAQ: WDC). However, the firm raised their price target to $35, indicating a possible decrease of -9.34% in the stock price. Analysts have assigned Western Digital Corporation (WDC) an Overweight rating. WDC is a stock that is recommended for selling by 1 brokerage firm, while 14 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 3 rates it overweight and 9 others recommend it as a buy.
What is WDC’s price target for the next 12 months?
The current consensus forecast for the stock is between $31.00 and $60.00, with a median target price of $45.00. In analyzing these forecasts, the average price target given by analysts for Western Digital Corporation (WDC) is $45.43.
