Western Digital Corp. (NASDAQ:WDC) finished Friday with a subtraction of -$0.17 to close at $45.63, a downside of -0.37 percent. An average of 2,919,720 shares of common stock have been traded in the last five days. There was a gain of $0.49 in the past week, and it reached a new high 16 times over the past 12 months. The last 20 days have seen an average of 3,577,010 shares traded, while the 50-day average volume stands at 3,344,930.
WDC stock has increased by 7.31% in the last month. The company shares reached their 1-month lowest point of $41.66 on 08/30/23. With the stock rallying to its 52-week high on 09/20/23, shares of the company touched a low of $29.73 and a high of $46.89 in 52 weeks. It has reached a new high 16 times so far this year and achieved 44.63% or $14.08 in price. In spite of this, the price is down -2.69% from the 52-week high.
Insider Transactions
WDC stock investors should be aware that Western Digital Corp. (WDC) stock had its last reported insider trading activity 24 days ago on Sep 06.
Valuation Metrics
Western Digital Corp. (WDC) stock’s beta is 1.64. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.19, the price-to-book (PB) ratio at 1.35.
Financial Health
The quick ratio of Western Digital Corp. for the three months ended June 29 was 0.77, and the current ratio was 1.45, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.64 and a total debt to equity ratio of 0.76 for the quarter ending June 29. Its gross profit as reported stood at $1.89 billion compared to revenue of $12.32 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Western Digital Corp.’s return on assets was -6.73%.
Earnings Surprise
For the three-month period that ended June 29, Western Digital Corp. had $5.86 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$730.0 million in the quarter, while revenues were grew 141.23%. The analyst consensus anticipated Western Digital Corp.’s latest quarter earnings to come in at -$2.01 per share, but it turned out to be -$1.98, a 1.50% surprise. For the quarter, EBITDA amounted to -$461.0 million. Shareholders own equity worth $321.9 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Western Digital Corp. (WDC) price momentum. RSI 9-day as of the close on 29 September was 62.55%, suggesting the stock is Neutral, with historical volatility in this time frame at 30.05%.
As of today, WDC’s price is $44.98 +1.09% or $0.49 from its 5-day moving average. WDC is currently trading +1.40% higher than its 20-day SMA and +33.50% higher than its 100-day SMA. However, the stock’s current price level is +19.20% above the SMA50 and +26.01% above the SMA200.
The stochastic %K and %D were 66.60% and 57.32%, respectively, and the average true range (ATR) was 1.23. With the 14-day stochastic at 73.02% and the average true range at 1.25, the RSI (14) stands at 60.86%. The stock has reached 0.44 on the 9-day MACD Oscillator while the 14-day reading was at 1.01.
Analyst Ratings
Exane BNP Paribas upgraded Western Digital Corp. (NASDAQ: WDC) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Western Digital Corp. (WDC) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell WDC, while 12 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 11 others rate it as a “buy”.
What is WDC’s price target for the next 12 months?
Analysts predict a range of price targets between $31.00 and $60.00, with a median target of $46.00. Taking a look at these predictions, the average price target given by analysts for Western Digital Corp. (WDC) stock is $46.90.
