As of Friday close, Western Digital Corporation’s (NASDAQ:WDC) stock was up $0.7, moving up 1.58 percent to $45.14. The average number of shares traded per day over the past five days has been 4,556,180 shares. 3 times new highs have been achieved over the past 5 days, with a $1.54 gain in that time frame. In the last twenty days, the average volume was 3,832,880, while in the previous 50 days, it was 3,496,642.
Since last month, WDC stock rose 9.96%. Shares of the company fell to $38.84 on 08/25/23, the lowest level in the past month. A 52-week high of $46.89 was reached on 09/20/23 after having rallying from a 52-week low of $29.73. Since the beginning of this year, WDC’s stock price has risen by 43.07% or $13.59, and marked a new high 16 times. However, the stock has declined by -3.73% since its 52-week high.
WDC stock investors should be aware that Western Digital Corporation (WDC) stock had its last reported insider trading activity 17 days ago on Sep 06. Zamiska Gene M., the SVP & Princ. Acctg Officer of the company, disposed of 2,169 shares for $45.42 on Sep 06. It resulted in a $98,516 divestment by the insider.
Valuation Metrics
The stock’s beta is 1.65. Besides these, the trailing price-to-sales (P/S) ratio of 1.18, the price-to-book (PB) ratio of 1.32.
The latest dividend of $0.50 per share was paid out, remained unchanged from last year’s $0.50.
Financial Health
In the three months ended June 29, Western Digital Corporation’s quick ratio stood at 0.80, while its current ratio was 1.50, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.54, and the total debt-to-equity ratio was 0.65. On the profitability front, the trailing twelve-month gross margin is 15.30% percent. In the year ended June 29, EBITDA margin amounted to -2.14%, whereas operating margins totaled -10.40%. Based on annual data, WDC earned $1.89 billion in gross profit and brought in $12.32 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -8.00%. Return on equity (ROE) for the past 12 months was -14.80%.
In Western Digital Corporation’s quarter-end financial report for June 29, it reported total debt of $5.86 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. WDC’s revenue fell -69.46% to $2.8 billion during the quarter, while net income inched up to $2.67 billion. While analysts expected Western Digital Corporation to report -$2.01 quarterly earnings, the actual figure was -$1.98 per share, beating the consensus estimate by 1.50%. During the quarter, the company generated -$461.0 million in EBITDA. The liabilities of Western Digital Corporation were 13.58 billion at the end of its most recent quarter ended June 29, and its total debt was $7.35 billion. The value of shareholders’ equity is $321.9 million.
Technical Picture
This quick technical analysis looks at Western Digital Corporation’s (WDC) price momentum. With a historical volatility rate of 28.57%, the RSI 9-day stood at 61.60% on 22 September.
With respect to its five-day moving average, the current Western Digital Corporation price is up by +3.53% percent or $1.54. At present, WDC shares trade +13.22% above its 20-day simple moving average and +32.53% percent above its 100-day simple moving average. However, the stock is currently trading approximately +14.68% above its SMA50 and +29.75% above its SMA200.
Stochastic coefficient K was 61.17% and Stochastic coefficient D was 58.31%, while ATR was 1.42. Given the Stochastic reading of 62.53% for the 14-day period, the RSI (14) reading has been calculated as 60.31%. As of today, the MACD Oscillator reading stands at 1.12, while the 14-day reading stands at 1.03.
Analyst Ratings
Exane BNP Paribas upgraded its rating on Western Digital Corporation (NASDAQ: WDC) to an Outperform in a note to investors on September 20, 2023. The analysts firm previously had a Neutral rating on the stock.Western Digital Corporation (WDC) has been rated Overweight by analysts. According to 1 brokerage firm, WDC is a sell, and 12 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 3 analysts rate Western Digital Corporation stock as buy, with 11 recommending it as overweight.
With a median target price of $46.00, the current consensus forecast for the stock is $31.00 – $60.00. Based on these forecasts, analysts predict Western Digital Corporation (WDC) will achieve an average price target of $46.90.
